On March 28, Xiaopeng Motors announced its unaudited financial data for the fourth quarter and full year ended December 31, 2021.
In terms of deliveries, total vehicle deliveries in the fourth quarter of 2021 were 41,751 units, up 222% from 12,964 units in the same period in 2020 and up 63% from 25,666 units in the third quarter of 2021. In November and December 2021, deliveries exceeded 15,000 units for two consecutive months.
Among them, P7 deliveries in the fourth quarter of 2021 were 21,342 units, an increase of 150% from 8,527 units in the same period in 2020. P7 orders continue to grow. After mass production began in October 2021, P5 deliveries maintained a steady growth momentum, reaching 5,030 units in December 2021. More than 50% of the total P5 delivered in the fourth quarter of 2021 can support XPILOT 3.0 or XPILOT 3.5. Xiaopeng Motors' fourth production model, the flagship smart SUV G9, debuted at the Guangzhou International Automobile Exhibition on November 19, 2021. The G9 is expected to be officially available in the third quarter of 2022.
Mr. He Xiaopeng, Chairman and CEO of Xiaopeng Motors, said: "We recorded considerable growth in 2021, with deliveries reaching new highs in the fourth quarter, led by the best-selling P7 models and the newly launched P5 family sedan. Coupled with the rapidly increasing penetration of electric vehicles in China and our highly competitive products, our total deliveries more than tripled year-on-year throughout the year and in the fourth quarter. In addition, our sales service and supercharging network is expanding rapidly, and the pace of new product launches is accelerating, paving the way for us to further penetrate the mid-to-high-end market, where the demand for our products is huge and has been in short supply. ”
As of December 31, 2021, Xiaopeng Automobile's sales stores continued to expand rapidly, including 357 operating stores covering 129 cities. Xiaopeng Automobile's brand super charging station has been expanded to 772 seats, covering 308 cities in China, providing a more comprehensive charging network.
In terms of the most watched revenue, Xiaopeng Motors' total revenue for the fourth quarter of 2021 was RMB8.56 billion (US$1.34 billion), an increase of 200.1% from the same period in 2020 and an increase of 49.6% from the third quarter of 2021, and the sales revenue of automobiles was RMB8.19 billion (US$1.28 billion), an increase of 199.3% from the same period in 2020 and an increase of 49.9% from the third quarter of 2021; gross profit margin was 12.0%, compared to the comparative term, For the same period in 2020, it was 7.4% and the gross profit margin of automobiles (i.e. gross profit from automobile sales as a percentage of revenue from automobile sales) was 10.9%, compared to 6.8% for the same period in 2020.
As of December 31, 2021, Xiaopeng Motors' cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits were RMB43.54 billion (US$6.83 billion), compared to RMB35.34 billion as of December 31, 2020 and RMB45.36 billion as of September 30, 2021.
Gu Hongdi, honorary vice chairman and president of Xiaopeng Motors, said, "With the accelerated delivery of our three models, we will have revenue of more than RMB 20 billion in 2021. In particular, we recorded significant growth in the fourth quarter, with revenue reaching RMB8.6 billion, up 200.1% year-on-year. With the strong models we sell, the planned launch of new models based on the new platform, and the leading position in technology, we are confident of continued growth and structural improvement in gross margin." ”
It is reported that Xiaopeng Automobile took advantage of the Spring Festival shutdown period at the end of January to upgrade the technology of the Zhaoqing plant, and the Zhaoqing plant has resumed production in mid-February as scheduled. The upgrade has enabled the delivery of a large number of on-hand orders accumulated from 2021 to early 2022.
In the first quarter of 2022, Xiaopeng Motors expects vehicle deliveries to range from 33,500 to 34,000 units, up approximately 151.1% to 154.9% year-on-year, and total revenue to be between RMB7.2 billion and RMB7.3 billion, or approximately 144.0% to 147.4% year-on-year.