AutoBeta(AutoBeta.net)05/24 Report--

Today, Xiaopeng announced its results for the first quarter of this year. According to the financial report, the company's revenue in the first quarter was 7.45 billion yuan, an increase of 152.6 percent over the same period last year, with a net loss of 1.7 billion yuan in the first quarter. By the end of the first quarter, the operating loss had narrowed by 21.0 percent, and the cash reserve reached 41.7 billion yuan. The delivery volume in the second quarter is expected to be 31000-34000 units, and revenue is expected to be 6.8 billion-7.5 billion yuan. Delivery is expected to range from 31000 to 34000 vehicles in the second quarter.

On the performance of the first quarter, he Xiaopeng said: "our first quarter results are a strong start to 2022." The demand for our high-quality electric vehicle products is strong, and our self-research technology continues to lead the industry. " Excellent self-research technology development capabilities and proactive supply chain management enable us to respond to supply chain challenges more efficiently. Although affected by the shortage of semiconductors and the COVID-19 epidemic, we are still confident of expanding our market share. "

According to relevant data, the delivery volume of Xiaopeng cars in April was 9002, an increase of 74.9 percent over the same period last year and a drop of 41.6 percent from the previous month, including 3714 for Xiaopeng P7, 3564 for Xiaopeng P5 and 1724 for Xiaopeng G3. From January to March, Xiaopeng delivered a total of 34561 new cars. Although Xiaopeng's delivery volume is still firmly in the forefront of the new car-building forces in terms of sales in recent months, it is worth noting that its vehicle gross margin is also lower than that of Xilai and ideal cars.

In 2021, Xiaopeng has an operating loss of 6.58 billion yuan and a gross profit margin of 11.5%, which is lower than that of Lulai and ideal cars. However, there is also a reason for Xiaopeng's low gross profit margin. At present, Xiaopeng has G3, P5 and P7 models on sale, of which the G3 and P5 start at less than 200000 yuan, while the P7 starts at 239900 yuan. By contrast, the selling price of Ulai's models on sale is basically more than 300000 yuan, while the ideal ONE price of ideal car is also higher than 300000 yuan. In addition, the increase in Xiaopeng's loss is also related to R & D investment. according to relevant data, Xiaopeng spent 4.114 billion yuan on R & D in 2021, which is lower than 4.591 billion yuan of Lulai but higher than 3.296 billion yuan of ideal car. However, if you look at the proportion of R & D investment in revenue, Xiaopeng's R & D investment ratio is 19.6%, higher than NIO's 12.7% and the ideal 12.2%.

Except in early May, Wei Xiaoli was added to the "pre-drawn list" by the Securities and Exchange Regulatory Commission (SEC). Affected by the news, the share prices of NIO, Xiaopeng and ideal fell sharply on the same day. It is understood that according to the details of the Foreign Company Accountability Act published by the US SEC, foreign listed companies have failed to submit the reports required by the US listed companies Accounting Supervisory Board for three consecutive years, and SEC has the right to delist them from the exchange. These companies can provide evidence to SEC before the application deadline to prove that they are not eligible for delisting, and the companies concerned have 15 working days to appeal against SEC's decision, and if the appeal is rejected, the first year of inspection will eventually determine non-compliance. Of course, if it cannot be proved, it will be included in the definite delisting list.

In addition to being included in the "pre-picked list", Xiaopeng has recently been exposed to destroy about 20 new graduates. In response to this matter, Xiaopeng Motor responded: recently, due to the post adjustment and performance optimization of some departments, involving a small number of fresh graduates and related staff adjustment, Xiaopeng Automobile will continue to communicate and properly deal with it.

Judging from the sales list of New Power in April, all brands are in a "late spring" situation. The main reason is that the epidemic has led to the suspension of production of upstream parts suppliers, and Xiaopeng Motor has also been greatly affected. In April, the delivery volume of Xiaopeng cars was 9002, an increase of 74.9 percent over the same period last year and a decrease of 41.6 percent from the previous month, including 3714 for Xiaopeng P7, 3564 for Xiaopeng P5 and 1724 for Xiaopeng G3. On April 14, he Xiaopeng, chairman of Xiaopeng Motor, also said, "if Shanghai and surrounding supply chain enterprises cannot find a way to dynamically resume work and production, all vehicle factories in China may have to stop production in May." It can be seen that, under the attack from many aspects, such as the epidemic and the supply of spare parts, domestic car companies have been living unsatisfactorily recently.

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