On November 23, Xiaopeng Automobile announced the third quarter of 2021 financial report. Xiaopeng Automobile’s third-quarter revenue was 5.72 billion yuan, a year-on-year increase of 187.4%, and a month-on-month increase of 52.1%; sales revenue was 5.46 billion yuan, a year-on-year increase of 187.7%, and a month-on-month increase of 52.3%; gross profit margin for automobile sales was 13.6%, higher than 2021 11% in the second quarter of 2010 and 3.2% in the third quarter of 2020.
Xiaopeng Motors
In the third quarter, Xiaopeng Automobile’s R&D expenditure was 1.264 billion yuan, which doubled from the same period last year and increased by 46.4% from the second quarter, with a R&D expense ratio of 22%. As of the end of the third quarter, Xiaopeng's R&D team had more than 4,000 people, an increase of more than 100% from the end of 2020.
However, due to the increase in research and development expenditures, Xiaopeng Automobile’s operating profit declined continuously from the second quarter to the third quarter, with a net loss of 1.59 billion yuan in the third quarter and a net loss of 1.148.8 billion yuan in the same period last year.
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In terms of cash flow, at the end of the third quarter, Xiaopeng Motors' cash reserves reached 45.36 billion yuan.
He Xiaopeng, Chairman and CEO of Xiaopeng Motors, said: "In the third quarter, our growth set another record, and it was the highest delivery volume among the new car-making forces in China. This outstanding performance proves that the market recognizes our independent research and development of software and hardware. Differentiated value."
Xiaopeng Motors
According to the delivery data previously released by Xiaopeng Motors, in the third quarter, the cumulative delivery of Xiaopeng Motors was 25,666, an increase of 47.5% month-on-month and a year-on-year increase of 199.2%. The single-quarter delivery volume was close to the full-year delivery volume of 2020; the first three quarters , Xiaopeng Motors has delivered a total of 56,404 vehicles, which is twice the delivery volume of last year.
In October of this year, Xiaopeng Motors delivered a total of 10,138 vehicles, a year-on-year increase of 233%. It overcame industry-specific chip supply challenges and delivered more than 10,000 vehicles for two consecutive months.
In the first 10 months of this year, Xiaopeng Motors has delivered 66,542 vehicles, which is nearly four times that of the same period last year. As of the end of October this year, the historical cumulative delivery volume of Xiaopeng Motors has exceeded 100,000 vehicles.
Xiaopeng Motors
Xiaopeng Motors said that looking forward to the fourth quarter, the company's delivery volume is expected to reach 34,500 to 36,500 vehicles, and total revenue is expected to be 7.1 billion to 7.5 billion yuan.
Battery Network noted that on November 10, Wei Lai, also a new force in car-building, released its third-quarter financial report. The financial report shows that in the third quarter, the company achieved revenue of 9.81 billion yuan, cash reserves of 47 billion yuan, research and development expenses of 1.19 billion yuan, and delivered 24,439 vehicles to a new high. The fourth quarter is expected to deliver 23,500 to 25,500 vehicles. The company said that in 2022, it will further increase its investment in product research and development, capacity enhancement, charging and replacement, and sales and service networks.
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