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The operation cost of Xiaopeng automobile’s Q3 financial report in 2020 is flawed, and the official response will be investigated for legal responsibility

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The following is the The operation cost of Xiaopeng automobile’s Q3 financial report in 2020 is flawed, and the official response will be investigated for legal responsibility recommended by recordtrend.com. And this article belongs to the classification: New energy vehicle industry, Smart car, Automobile industry, Industry information.

Tiktok tiktok city sells the vehicle to the used car dealer after the “brother around the earth” in the shaking platform, and then sends it to the three or four line car rental company. Take Xiaopeng G3 as an example, its landing price is 170000 yuan, but the price bought by second-hand car dealers is about 110000 yuan. In the financial report, Xiaopeng included the discount price of the middleman’s turnover into the operating cost. “Yuge around the earth” doubts that the operating cost of Xiaopeng automobile in the third quarter of 2020 is as high as 1.2 billion, which is flawed.

Xiaopeng automobile statement said: “recently, we found that tiktok users continuously released a lot of false information, and no doubt about the operation of Xiaopeng car, and speculation. This kind of behavior has seriously damaged the reputation of Xiaopeng automobile and caused very bad public opinion influence. In this regard, our company will reserve the right to investigate the legal responsibility of relevant responsible persons, so as to protect the legitimate rights and interests of Xiaopeng automobile. “

According to media reports, Li Pengcheng, vice president of Xiaopeng automobile and general manager of brand public relations, also said in the circle of friends: “we are willing to” take our P7 as a reward “to seek effective clues

In some industry groups, some friends think this is a common practice in the automobile industry, and the price of selling inventory will be much lower than the normal price. There are also group friends who think that it is a good thing for some people to come forward and question, which has a certain guarantee for retail investors.

For the content of Xiaopeng automobile’s statement, some industry insiders have commented that Xiaopeng automobile is a little extreme, which may attract the attention of short selling institutions.

According to sina science and technology data, Xiaopeng automobile（ NYSE:XPEV ）In the third quarter of 2020 released on November 12, the total revenue was 1.990.1 billion yuan (about 293.1 million US dollars), an increase of 342.5% compared with the third quarter of 2019 and 236.9% compared with the second quarter of 2020. The net loss was RMB 1148.8 million (US $169.2 million), compared with 776.3 million yuan in the same period of the previous year and 146.0 million yuan in the second quarter of this year. Not according to non GAAP, the adjusted net loss was RMB 864.9 million (about US $127.4 million), compared with RMB 750.8 million in the same period of last year and 769.5 million in the second quarter of this year.

In the third quarter of 2020, Xiaopeng automobile delivered 8578 vehicles, an increase of 265.8% compared with 2345 vehicles in the same period of last year, and an increase of 165.7% compared with 3228 vehicles in the second quarter of this year.

Auto sales were RMB 3486.1 million (about US $493.4 million), up 146.5% from the third quarter of 2019 and 177.6% from the first quarter of 2020. Gross profit margin on auto sales was 9.7%, compared with – 24.1% in the third quarter of 2019 and – 7.4% in the first quarter of 2020.

The p7 delivered 6210 units, compared with 325 in the second quarter of this year.

Of all P7 delivered this quarter, 98% can support xpilot 2.5 or xpilot 3.0.

As of September 30, 2020, the physical sales and service network of Xiaopeng automobile is composed of 116 stores and 50 service centers, covering 58 cities.

As of September 30, 2020, the number of Xiaopeng brand super charging stations has been expanded to 135, covering 50 cities.

Summary of financial results for the third quarter:

Total revenue was 1.990.1 billion yuan (about 293.1 million US dollars), an increase of 342.5% compared with the third quarter of 2019 and 236.9% compared with the second quarter of 2020.

Revenue from auto sales was RMB 1898 million (US $279.6 million), an increase of 376.0% from RMB 398.8 million in the third quarter of 2019 and 250.8% from RMB 541.1 million in the second quarter of 2020.

The gross margin was 4.6%, compared with – 10.1% in the third quarter of 2019 and – 2.7% in the second quarter of 2020. Gross profit margin on auto sales was 3.2%, compared with – 10.8% in the third quarter of 2019 and – 5.6% in the second quarter of 2020.

The net loss was RMB 1148.8 million (US $169.2 million), compared with 776.3 million yuan in the same period of the previous year and 146.0 million yuan in the second quarter of this year.

Not according to non GAAP, the adjusted net loss was RMB 864.9 million (about US $127.4 million), compared with RMB 750.8 million in the same period of last year, and RMB 769.5 million in the second quarter of this year.

Third quarter performance analysis:

Total revenue was 1.990.1 million yuan (US $293.1 million), an increase of 342.5% from RMB 449.7 million yuan in the third quarter of 2019 and 236.9% compared with 590.8 million yuan in the second quarter of 2020.

Revenue from services and other aspects was 92.1 million yuan (US $13.6 million), up 80.8% from 50.9 million yuan in the same period of 2019, and 85.4% higher than 49.7 million yuan in the second quarter of 2020.

The cost of sales was 1.898.6 million yuan (US $279.6 million), an increase of 283.5% compared with 495.0 million yuan in the same period of 2019, and 212.8% higher than that of 607 million yuan in the second quarter of 2020.

The gross margin was 4.6%, compared with – 10.1% in the third quarter of 2019 and – 2.7% in the second quarter of 2020.

Gross profit margin on auto sales was 3.2%, compared with – 10.8% in the third quarter of 2019 and – 5.6% in the second quarter of 2020.

R & D expenditure was 635.4 million yuan (about 93.6 million US dollars), 46.1% higher than 435 million yuan in the same period of 2019, and 98.7% higher than 318.8 million yuan in the second quarter of 2020.

Sales, general and administrative expenses amounted to RMB 1203.8 million (approximately US $177.3 million), an increase of 320.8% over RMB 286.0 million in the same period of 2019, and 152.3% higher than RMB 477.1 million in the second quarter of 2020.

The operating loss was RMB 1744.2 million (US $256.9 million), compared with RMB 761.5 million in the same period of 2019 and RMB 779.1 million in the second quarter of 2020. The operating loss, which is not in accordance with non GAAP, was RMB 826.6 million (US $121.2 million), compared with RMB 761.4 million in the same period of 2019 and RMB 779.1 million in the second quarter of 2020.

The net loss was RMB 1148.8 million (US $169.2 million), compared with 776.3 million yuan in the same period of the previous year and 146.0 million yuan in the second quarter of this year.

In addition to non GAAP, the adjusted net loss was RMB 864.9 million (about US $127.4 million), compared with RMB 750.8 million in the same period of last year and RMB 769.5 million in the second quarter of this year.

The net loss attributable to ordinary shareholders of Xiaopeng automobile was RMB 2025.8 million (approximately US $298.4 million), compared with RMB 982.6 million in the same period of 2019 and RMB 1145.5 million in the second quarter of 2020.

The net loss attributable to common shareholders of Xiaopeng automobile was RMB 864.9 million (approximately US $127.4 million), compared with RMB 750.8 million in the same period of 2019 and RMB 769.5 million in the second quarter of 2020, which is not in accordance with us general accounting standards (non GAAP).

The basic and diluted net loss per ads was RMB 5.07 (approximately US $0.75), compared with RMB 5.62 in the third quarter of 2019 and RMB 6.29 in the second quarter of 2020.

In addition to non GAAP, the basic and diluted net loss per ads was RMB 2.16 (approximately US $0.32), compared with RMB 4.30 in the third quarter of 2019 and RMB 4.24 in the second quarter of 2020.

As of September 30, 2020, the total amount of cash, cash equivalents, restricted cash and short-term investment held by Xiaopeng automobile was RMB 19.998.4 billion (about US $2945.4 million), compared with RMB 28156 million as of December 31, 2019. This growth was mainly due to the IPO and C + round financing in August 2020.

Performance Outlook:

Xiaopeng auto expects to deliver about 10000 vehicles in the fourth quarter of 2020, with a year-on-year increase of 210.8%.

The total revenue will reach about 2.2 billion yuan, with a year-on-year increase of 243.7%.

More reading: Xiaopeng automobile: revenue of 3q20 was 1.99 billion yuan, with a year-on-year growth of 342.5%. Xiaopeng: 4224 sets were delivered in November 2020, a record high. In November 2020, the market value of Xiaopeng automobile exceeded $50 billion, surpassing that of Honda motor. Qin released financial reports in the first, second and third quarters of 2017 Yunmi’s Q3 net profit in 2020 was 34.9 million yuan, with a year-on-year decrease of 52%. Interesting headlines: revenue in the second quarter of 2020 was 1.44 billion yuan, which exceeded the expectation. The trade desk released the second quarter financial report in 2020, and the customer retention rate still remained above 95%. After six consecutive quarters of profit decline, focus media has gone out of the trough? Media review: Alibaba ushers in “shining moment” multi engine driven solid growth in the first quarter of fiscal year 2021 Interesting headlines: the R & D investment in 2020q1 is as high as 281 million yuan. Interesting headlines: 1q20 revenue is 1.412 billion yuan, with a year-on-year increase of 26.2%. Comprehensive quarterly average monthly active users reach 138 million yuan, with a year-on-year increase of 24.2%. Tuniu financial report: in 2020, Q3 revenue is 124 million yuan, with a year-on-year decrease of 85.46%

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