On March 19th, Xiaopeng Motors released its fourth-quarter financial report for 2023.
The data shows that in the fourth quarter, a total of 60,158 units of smart electric vehicles were delivered, generating revenue exceeding 13 billion RMB, a year-on-year increase of 154%.
The gross profit margin significantly improved to 6.2%, an increase of nearly 9 percentage points compared to the previous quarter, with an automotive gross profit margin reaching 4.1%, up more than 10 percentage points sequentially.
The net loss for the fourth quarter was 1.35 billion RMB, compared to a net loss of 2.36 billion RMB in the same period last year and a net loss of 3.89 billion RMB in the previous quarter.
For the full year of 2023, Xiaopeng Motors' total revenue was 30.68 billion RMB, a year-on-year increase of 14.2%; the net loss was 10.38 billion RMB, compared to 9.14 billion RMB in 2022.
As of the end of the fourth quarter, Xiaopeng Motors' cash reserves reached 45.7 billion RMB, an increase of over 9.2 billion RMB compared to the previous quarter and over 7.4 billion RMB compared to the same period last year, once again reaching a historical high.
For the first quarter of 2024, Xiaopeng Motors expects vehicle deliveries to range between 21,000 and 22,500 units, representing a year-on-year increase of approximately 15.2% to 23.4%, with total revenue expected to be between 5.8 billion RMB and 6.2 billion RMB, a year-on-year increase of approximately 43.8% to 53.7%.
As of the end of last year, Xiaopeng Motors had a total of 500 stores, covering 181 cities, with 1,108 self-operated charging stations, including 902 Xiaopeng Motors' self-operated super charging stations and 206 destination charging stations.
Furthermore, Xiaopeng is poised to enter the 100,000 to 150,000 RMB global automotive market, with a new brand set to be launched, aiming to create the first AI smart driving car for young people.
