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XPeng Q3 2022 Earnings Snapshot

EV maker XPeng soars 47% on earnings release, when Covid Zero starts to change

XPeng is a leading smart EV company that designs, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy consumers. The company is headquartered in Guangzhou, with offices in Mountain View, California and has been publicly traded since August 2020.
XPeng Q3 2022 Earnings Snapshot
XPEV’s share price soars 47% following its Q3 2022 results and the company plans to implement cost control initiatives and improve operational efficiency. The management is confident to achieve improvement in both average selling price and delivery volumes.

Q3 2022 Financial Highlights:
• Quarterly revenues reached $0.92 billion, representing an increase of 19.3% year-over-year(YoY).
• Net loss was $0.33 billion for Q3 2022, compared with $0.22 billion for the same period of 2021    and $0.38 billion for Q2 2022.
• Total deliveries of vehicles were 29,570 in Q3 2022, representing an increase of 15% YoY.
• There were 5,811 vehicles delivered in November 2022. A total of 109,465 vehicles were delivered cumulatively in the first eleven months of 2022.
• Gross margin was 13.5% for Q3 2022, compared with 14.4% for the same period of 2021
• Cash and cash equivalents were $5.64 billion as of September 30, 2022
• On September 2022, XPENG received its third consecutive annual MSCI ESG rating of AA, ranking top among carmakers worldwide.
According to Morningstar, by December 1, 2022, XPEV's share had dropped over 75% since the start of 2022, underperforming the S&P 500 (.SPX), which is about a 15% decline in the same period.

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  • 阿姚朋友 : We are actually making or are undergoing this kind of organizational change, with a focus on our brand and marketing. Looking back, I mean, in the past, our brand, sales, and marketing focused mainly on sales, and more on boosting sales of our products, but looking ahead, we'll balance the different aspects of our brand, marketing, and sales through innovative measures, and we plan to actually reduce expenses to boost sales while increasing marketing expenses. Now, the second thing about organizational restructuring is that we plan — we want to integrate our organization and make it more efficient and effective. We plan to recruit highly qualified talents from different industries to improve our sales and marketing efficiency. Our goal is to introduce a series of measures to meet different challenges and improve our efficiency to adjust our product portfolio, achieve higher customer satisfaction, and adjust customer needs at the same time.

    Now, we're talking about our close relatives but we are confident that in the long run, we'll continue to make such adjustments to meet our medium- to long-term goals. THANK YOU. Let me add a few important points. The first is that we will have a more clear position on our brands and products. The second thing is that our goal is long-term gaming. We're not doing this for the short term. The third point is that we will be more proactive in our sales and marketing activities instead of being as reactive as we were in the past. The fourth and final point is that we will continue to be customer-oriented and focused on our customers.

  • Ah keong : There are two basic logics behind the automotive manufacturing industry today, especially for our original equipment manufacturers. The first is to use the barrel theory, which means you have to identify your weakest points as well as your strengths. Now, over the past few years, I think it's not just ourselves; many of our peers are doing their best to identify and improve their weaknesses in safety, product quality, service quality, and cost control. We're also doing our best. We're working to further improve the quality of our services as well as our product design, interior design, and smart cockpit and other space design. So, in the long run, one of the key competitive advantages is to actually define your goals, and I mean short- and long-term goals. You must make sure you understand your current focus, whether your goals are short term or long term. The second logic behind aut in the manufacturing industry is to define your customer mix or your target customer goals and your original goals. Now, over the past 2 to 3 years, XPeng has positioned itself as a long-term global company, and we are keen to expand. That's why over the next three years, we've built our plans for the next three years on this basis. I'm sorry, but today I won't be able to reveal more about our future lineup or market demand for specific models. However, I would like to mention that in the future, autonomous driving or ADAS technology will be standard in our future product lineup, with very consistent performance and very high quality features in our products. This is also our long-term goal - based on this, we will further improve our technical capabilities and do a better job of controlling costs so that we can provide our customers with high-quality products that are truly cost competitive, which will be reflected in our next generation of products. THANK YOU. Regarding the second part of your question, now our current organizational changes are mainly aimed at achieving two goals or focusing mainly on two aspects. The first is to make changes in our product planning, product development, and to improve efficiency and effectiveness when implementing our technology in future products while controlling — first, being able to identify real needs and control our investments in less valuable months. That's why we've invested so much to improve our electrical and electronic architectures, vehicle architectures, and powertrains and other systems. With these systems and integrations, we'll be able to truly deliver end-to-end solutions that deliver high quality products to our customers.

  • 矜重的比尔 : At next year's P7, the goal is to launch an upgraded version to reflect technological advancements, particularly the ones you've seen on G9. As a result, the P7 will have the same advanced autonomous driving architecture, as well as faster charging and higher voltage capabilities, as well as many other upgrades and fixes that will address some of the shortcomings we have received feedback on. In fact, benefiting from platform development, since many of these advancements are simply shared modularity and platform development, we are actually able to control the costs of the new P7 and thus maintain profits similar to the current version. Additionally, some models of the current P7 version will continue to be sold along with the updated P7. So, actually I'd say, a high-end or upgraded version of the P7. As a result, I think we are confident we can launch a more competitive P7 that reflects our top technical capabilities while maintaining the price segment and profitability of this series of P7 series.

  • 矜重的比尔 : Based on investment over the past few years, Xiaopeng has laid out three powerful model platforms, including the completed E platform and the third-generation F platform and H platform scheduled to be completed next year, laying a solid technical foundation for product upgrades and iterations. The models on these platforms will share power systems, intelligent driving systems, chassis and electronic and electrical architectures, as well as corresponding supply chains and manufacturing capabilities, etc. on a large scale. Thanks to the layout of production capacity in the early stages, the company's capital expenditure demand will drop significantly in the next few years compared to this year, and the cash flow situation is expected to improve further.

  • 103047546 : According to Xiaopeng Motor's Q3 earnings call, large-scale delivery of Xiaopeng's flagship SUV model, the G9, began at the end of October. He Xiaopeng, chairman and CEO of Xiaopeng Motor, said that although the G9 needs to overcome the challenges of the epidemic and rising production capacity in the short term, with its solid battery life and charging speed exceeding all electric models on the market, the G9's user reputation is gradually expanding. I am confident that the G9 will be the top three in the market for more than 300,000 pure electric SUVs, and next year, as word of mouth accumulates, the gap with the first place will be further narrowed.

  • 103047546 : He Xiaopeng said at Xiaopeng Motor's Q3 performance meeting that in order to strengthen product competitiveness and increase sales, management will listen more effectively to user needs, simplify product configuration choices, and enhance the attractiveness of products in hardware and software. In response, Xiaopeng Motor is further promoting organizational change. He Xiaopeng himself will focus more on Xiaopeng Motor's strategy, product planning and R&D, promote organizational change and upgrading, and drastically reduce the direct participation of individuals in ecological enterprises. Xia Heng, co-founder and president of Xiaopeng Motor, will also resign as executive director of the board of directors, focusing more on products.

  • VivaChe83 : I was just about to say the same thing. 😜 Chinese writing....love it. Be nice to learn how to read, write and speak in Chinese one day.

  • Milk The Cow : Heard that they making more losses on Q3 Shocked?
    If it's continuing to make loss, then just forget about it Emm or except u are a good trader Trick.

    Me is "neither", so it does not really matters to me Grin.
    By the way, I did not really read the 3Q report, just did a rough glance through the news.
    I just look at the 2Q result from moomoo & it does not look that good... so, forget about look at the 3Q report when there's a news mentioning loss on 3Q Emm.
    Moomoo are late on the 3Q report update on the financial category...

  • Silverbat : Don't believe her!

  • All-in-NioXpeng : Believe the Shorts at Moomoo are experiencing major short squeeze here.

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