Xpeng Inc 6-K, filed May 14, 2021

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

FORM 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

May 2021

CommissionFile Number: 001-39466

XPENG INC.

No. 8 Songgang Road, Changxing Street

Cencun, Tianhe District, Guangzhou

Guangdong 510640

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒        Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ☐            No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

TABLE OF CONTENTS

Exhibit 99.1	Press release: XPeng Reports First Quarter 2021 Unaudited Financial Results

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

XPENG INC.
By:	/s/ Hongdi Brian Gu
Name:	Hongdi Brian Gu
Title:	Vice Chairman and President

Date: May 14, 2021

3

EX-99.1

Exhibit 99.1

XPeng Reports First Quarter 2021 Unaudited Financial Results

•	Quarterly total revenues reached RMB2,950.9 million, a 616.1% increase year-over-year<br>
•	Quarterly vehicle deliveries were 13,340 units
---	---
•	Quarterly gross margin reached 11.2%
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GUANGZHOU, China, May 13, 2021 (BUSINESS WIRE) — XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its unaudited financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Operational Highlights

•	Deliveries of vehicles reached 13,340 in the first quarter of 2021, representing an increase of 487.4%<br>from 2,271 in the corresponding period of 2020 and an increase of 2.9% from 12,964 in the fourth quarter of 2020.
•	Among the total P7s delivered as of the quarter, 96% can support XPILOT 2.5 or XPILOT 3.0.
---	---
•	As of **** March 31, 2021, **** XPeng’s physical sales and service network consisted of a****total of 178 stores and 61 service centers, covering 70 cities.
---	---
•	As of March 31, 2021, XPeng-branded super charging stations expanded to 172, covering 60 cities.<br>
---	---

First Quarter 2021 Financial Highlights

•	Total revenues were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing<br>an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.
•	Revenues from vehicle sales were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021,<br>representing an increase of 655.2% from RMB372.2 million for the same period of 2020, and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020.
---	---
•	Gross margin was 11.2% for the first quarter of 2021, compared with negative 4.8% for the same period of<br>2020 and 7.4% for the fourth quarter of 2020. ****
---	---
•	Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was<br>10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020.
---	---
•	Net loss was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with<br>RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred<br>shares, non-GAAP net loss was RMB696.3 million (US$106.3 million) in the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the<br>fourth quarter of 2020.
---	---
•	Net loss attributable to ordinary shareholders of XPeng Inc. was RMB786.6 million (US$120.1 million)<br>for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020. Excluding share-based compensation expenses, fair value change on derivative liabilities related<br>to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng Inc. was RMB696.3 million<br>(US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.
---	---

1

•	Basic and diluted net loss per American depositary share (ADS)*^^were both RMB0.99 (US$0.15) for the first quarter of 2021. Non-GAAP basic and diluted net loss per ADS^^*were both RMB0.88 (US$0.13) for the first quarter of 2021. Each ADS represents two Class A ordinary shares.
•	Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-termdeposits were RMB36,201.0 million (US$5,525.4 million) as of March 31, 2021.
---	---

“The first quarter kicked off a great start to 2021 with a record-breaking vehicle deliveries notwithstanding seasonally slower demand for automobiles and the semiconductor shortage,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Our strong momentum in the quarter was propelled by our industry-leading full-stack autonomous driving technology, solid differentiated product strategy and our vision to lead Smart EV development and transformation.

“Notably, since releasing OTA updates for XPILOT 3.0 in late January, we are now recognizing revenues from our proprietary XPILOT software. As we continue to grow with rapid technology iterations powered by our full-stack in-house R&D capabilities and strong closed-loop data capabilities, I believe that XPILOT’s software monetization will become recurring revenues as part of the revenues from our vehicle sales.

“Rapid software iterations also support our ability to continuously introduce new vehicle models featuring more powerful hardware. The debut of the P5, the world’s first mass-produced LiDAR-equipped Smart EV, underlines our mission to shape the mobility experience of the future.

“Looking ahead, we remain dedicated to our long-term strategic roadmap and technology innovations to fuel Smart EV transformation. Additionally, we will continue long-term investments in building out our sales, service and charging facilities, as well as our production and supply chain capabilities to support vigorous growth over the next few years,” Mr. He added.

“XPeng’s robust performance in the first quarter of 2021 demonstrates our strong capabilities to make differentiated Smart EVs that appeal to various needs of a large and growing customer base,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Thanks to our record-breaking deliveries in this quarter, our revenues reached RMB2,950.9 million in Q1, representing year-over-year growth of 616.1%. We also witnessed further improvement in our profitability. In particular, our gross margin continued the upward trend and reached 11.2% in the quarter.

“Additionally, the revenue realized from our proprietary software reflect that we are at the forefront of the industry in autonomous driving software subscription. Moreover, our sound financial condition and strong cash position enable us to better execute our growth strategies, cement competitive advantages and grasp enormous growth opportunities in the Smart EV sector,” Dr. Gu concluded.

2

Recent Developments

Deliveries in April 2021

Total Smart EV deliveries reached 5,147 units in April 2021, representing a 285.3% increase year-over-year. The April deliveries consisted of 2,995 P7s, XPeng’s smart sports sedan, and 2,152 G3s, XPeng’s compact smart SUV. As of April 30, 2021, year-to-date deliveries reached 18,487 units, representing a 412.5% increase year-over-year.

New Smart EV Manufacturing Base

On April 8, 2021, XPeng entered into a cooperation agreement with the City of Wuhan to develop and build the XPeng Motors Wuhan Smart EV Manufacturing Base (“Wuhan Base”).

Supported by the Wuhan government, XPeng will commence the construction of the new Wuhan Base, featuring manufacturing and powertrain plants as well as R&D facilities. With an annual capacity by 100,000 units, the Wuhan Base will further bolster XPeng’s ability to capture growing consumer demand for Smart EVs.

Expanding into China’s major auto manufacturing hub with strong local government support is another landmark in XPeng’s strategic development, and cements its leadership position in the Smart EV sector.

Debut of Third Production Model

In April 2021, XPeng debuted its third production model, the XPeng P5 smart sedan, which is the world’s first mass-produced Smart EV equipped with automotive-grade LiDAR technology. Powered by XPeng’s full-stack in-house developed autonomous driving technology – XPILOT and intelligent in-car operating system – Xmart OS, the P5 will provide users with market-leading Smart EV driving experience on the XPILOT 3.5 and the Xmart OS 3.0.

Forming NewStrategic Partnership

On April 15, 2021, XPeng entered into a Memorandum of Understanding with Zhongsheng Group to establish a long-term strategic partnership to deliver both XPeng’s industry-leading Smart EV products and Zhongsheng’s high quality services to consumers, in order to further boost the Smart EV transformation in China.

First Quarter 2021 Unaudited Financial Results

Total revenues were RMB2,950.9 million (US$450.4 million) for the first quarter of 2021, representing an increase of 616.1% from RMB412.1 million for the same period of 2020 and an increase of 3.5% from RMB2,851.4 million for the fourth quarter of 2020.

Revenues fromvehicle sales were RMB2,810.3 million (US$428.9 million) for the first quarter of 2021, representing an increase of 655.2% from RMB372.2 million for the same period of 2020 and an increase of 2.7% from RMB2,735.4 million for the fourth quarter of 2020. The year-over-year increase was mainly due to delivery of the P7, which started at the end of June 2020. The quarter-over-quarter increase was primarily attributable to the revenue recognition on XPILOT 3.0 software in the first quarter of 2021 since the functionality was delivered to an accumulated group of software purchasers, partially offset by the lower government subsidy for the new energy vehicle starting from January this year.

Revenues from services and others were RMB140.6 million (US$21.5 million) for the first quarter of 2021, representing an increase of 252.2% from RMB39.9 million for the same period of 2020 and an increase of 21.3% from RMB115.9 million for the fourth quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to higher sales of parts, accessories, and services in line with higher accumulated vehicle sales.

3

Cost of sales was RMB2,621.1 million (US$400.1 million) for the first quarter of 2021, representing an increase of 506.8% from RMB431.9 million for the same period of 2020, and a decrease of 0.7% from RMB2,640.8 million for the fourth quarter of 2020. The year-over-year increase was mainly due to the increase of vehicle deliveries as described above, while the quarter-over-quarter decrease was mainly due to favorable material cost reduction.

Gross margin was 11.2% for the first quarter of 2021, compared to negative 4.8% and 7.4% for the first quarter of 2020 and the fourth quarter of 2020, respectively.

Vehiclemargin was 10.1% for the first quarter of 2021, compared to negative 5.3% for the same period of 2020 and 6.8% for the fourth quarter of 2020. The improvement was primarily attributable to material cost reduction and revenue recognition of XPILOT software sales.

Research and development expenses were RMB535.1 million (US$81.7 million) for the first quarter of 2021, representing an increase of 72.2% from RMB310.8 million for the same period of 2020 and an increase of 16.3% from RMB460.0 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, (ii) higher expenses relating to the P5 development, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter increase was mainly due to (i) the increase in employee compensation in line with increasing engineering staff, and (ii) higher expenses relating to the development of the P5.

Selling, general and administrative expenses were RMB720.8 million (US$110.0 million) for the first quarter of 2021, representing an increase of 124.0% from RMB321.8 million for the same period of 2020 and a decrease of 21.5% from RMB917.9 million for the fourth quarter of 2020. The year-over-year increase was mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, (ii) the expansion of our sales network and associated personnel cost, lease expenses for sales and service stores, and commission for the franchised stores, and (iii) share-based compensation expenses recognized in the first quarter of 2021. The quarter-over-quarter decrease was mainly due to lower marketing, promotional and advertising expenses compared with peak sales season in the fourth quarter.

Loss from operations was RMB903.9 million (US$138.0 million) for the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,121.2 million for the fourth quarter of 2020.

Non-GAAP loss from operations, which excludes share-based compensation expenses, was RMB813.7 million (US$124.2 million) in the first quarter of 2021, compared with RMB649.3 million for the same period of 2020 and RMB1,046.4 million for the fourth quarter of 2020.

Net loss was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB649.8 million for the same period of 2020 and RMB787.4 million for the fourth quarter of 2020.

Non-GAAP net loss, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.

4

Net loss attributable to ordinary shareholders of XPeng Inc. was RMB786.6 million (US$120.1 million) for the first quarter of 2021, compared with RMB935.1 million for the same period of 2020 and RMB787.4 million in the fourth quarter of 2020.

Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc., which excludes share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, **** was RMB696.3 million (US$106.3 million) for the first quarter of 2021, compared with RMB644.8 million for the same period of 2020 and RMB712.6 million for the fourth quarter of 2020.

Basic and diluted net lossper ADS*^^*were both RMB0.99 (US$0.15) for the first quarter of 2021, compared to RMB5.16 for the first quarter of 2020 and RMB1.05 for the fourth quarter of 2020. ****

Non-GAAP basic and diluted net loss per ADS*^^*were both RMB0.88 (US$0.13) for the first quarter of 2021, compared to RMB3.56 for the first quarter of 2020 and RMB0.95 for the fourth quarter of 2020.

Balance Sheets

As of March 31, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB36,201.0 million (US$5,525.4 million), compared to RMB35,342.1 million as of December 31, 2020.

Business Outlook

For the second quarter of 2021, the Company expects:

•	Deliveries of vehicles to be between 15,500 and 16,000 vehicles, representing a year-over-year increase of<br>approximately 380.2% to 395.7%.
•	Total revenues to be between RMB3.4 billion and RMB3.5 billion, representing a year-over-year<br>increase of approximately 475.5% to 492.4%.
---	---

The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.

Conference Call

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 13, 2021 (8:00 PM Beijing/Hong Kong time on May 13, 2021).

Dial-in details for the earnings conference call are as follows:

United States:	+1-833-350-1333
United Kingdom	+44-203-547-8612
International:	+1-236-389-2427
Hong Kong, China:	+852-3012-6671
Mainland China:	400-820-9391
Conference ID:	7159369

5

For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of GAAP and non-GAAP Results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.5518 to US$1.00, the exchange rate on March 31, 2021 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPeng’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPeng’s goal and strategies; XPeng’s expansion plans; XPeng’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPeng’s expectations regarding demand for, and market acceptance of, its products and services; XPeng’s expectations regarding its relationships with customers, contract manufacturer, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPeng’s filings with the SEC. All information provided in this press release is as of the date of this press release, and XPeng does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contacts:

For Investor Enquiries

IR Department

XPeng Inc.

E-mail: ir@xiaopeng.com

Jenny Cai

The Piacente Group

Tel: +1-212-481-2050 or +86-10-6508-0677

E-mail: xpeng@tpg-ir.com

For Media Enquiries

Marie Cheung

XPeng Inc.

Tel: +852 9750 5170 / +86 1550 7577 546

E-mail: mariecheung@xiaopeng.com

7

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data)

	As of
	31 December, 2020		31 March, 2021		31 March, 2021
	(audited)		(unaudited)		(unaudited)
	RMB		RMB
Assets
Current assets:
Cash and cash equivalents		29,209,388		31,061,085
Restricted cash		2,332,145		1,779,251
Short-term deposits		979,897		988,711
Short-term investments		2,820,711		1,468,158
Derivative assets		105,183		—
Accounts receivable, net		1,128,892		1,374,655
Current portion of finance lease receivables, net		156,069		253,951
Inventory		1,343,025		1,933,180
Amounts due from related parties		682		588
Prepayments and other current assets		1,603,286		1,788,035
Total current assets		39,679,278		40,647,614
Non-current assets:
Property, plant and equipment, net		3,081,502		3,174,344
Right-of-use<br>assets		461,184		662,268
Intangible assets, net		607,781		604,006
Land use rights, net		249,934		382,307
Finance lease receivables, net		397,467		684,053
Long-term deposits		—		903,781
Other non-current assets		228,633		86,805
Long-term investments		1,000		25,551
Total non-current assets		5,027,501		6,523,115
Total assets		44,706,779		47,170,729

All values are in US Dollars.

8

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data)

	As of
	31 December, 2020			31 March, 2021			31 March, 2021
	(audited)			(unaudited)			(unaudited)
	RMB			RMB
Liabilities
Current liabilities
Short-term borrowings		127,900			7,900
Accounts and notes payable		5,111,745			5,897,486
Amount due to a related party		12,062			13,829
Current portion of lease liabilities		119,565			172,481
Current portion of deferred revenue		163,617			126,552
Current portion of long-term borrowings		45,000			—
Accruals and other liabilities		2,256,165			2,838,829
Income taxes payable		1,209			—
Derivative liabilities		—			8,798
Total current liabilities		7,837,263			9,065,875
Non-current liabilities
Long-term borrowings		1,645,000			1,600,000
Lease liabilities		352,501			490,560
Deferred revenue		144,767			206,924
Other non-current liabilities		297,439			1,972,754
Total non-current liabilities		2,439,707			4,270,238
Total liabilities		10,276,970			13,336,113
Shareholder’s equity
Class A Ordinary shares		63			66
Class B Ordinary shares		26			26
Class C Ordinary shares		12			12
Additional paid in capital		46,482,512			46,572,785
Accumulated other comprehensive loss		(730,381	)		(629,289	)		)
Accumulated deficit		(11,322,423	)		(12,108,984	)		)
Total shareholders’ equity		34,429,809			33,834,616
Noncontrolling interests		—			—
Total shareholders’ equity		34,429,809			33,834,616
Total liabilities and shareholders’ equity		44,706,779			47,170,729

All values are in US Dollars.

9

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All amounts in thousands, except for share and per share data)

	Three Months Ended
	March 31, 2020			December 31, 2020			March 31, 2021			March 31, 2021
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	RMB			RMB			RMB
Revenues
-Vehicle sales		372,151			2,735,444			2,810,347
-Services and others		39,918			115,908			140,579
Total revenues		412,069			2,851,352			2,950,926
Cost of sales
-Vehicle sales		(391,736	)		(2,550,587	)		(2,525,808	)		)
-Services and others		(40,206	)		(90,201	)		(95,277	)		)
Total cost of sales		(431,942	)		(2,640,788	)		(2,621,085	)		)
Gross (loss)/profit		(19,873	)		210,564			329,841
Operating expenses
Research and development expenses		(310,782	)		(459,955	)		(535,114	)		)
Selling, general and administrative expenses		(321,825	)		(917,883	)		(720,821	)		)
Total operating expenses		(632,607	)		(1,377,838	)		(1,255,935	)		)
Other income		3,197			46,097			22,161
Loss from operations		(649,283	)		(1,121,177	)		(903,933	)		)
Interest income		10,658			88,867			135,102
Interest expense		(8,278	)		(2,571	)		(1,142	)		)
Fair value (loss)/gain on derivative liabilities		(4,968	)		123,374			(1,808	)		)
Other non-operating income/(loss), net		2,110			125,303			(14,780	)		)
Loss before income taxes		(649,761	)		(786,204	)		(786,561	)		)
Income tax expenses		—			(1,217	)		—
Net loss		(649,761	)		(787,421	)		(786,561	)		)
Accretion on Preferred Shares to redemption value		(285,293	)		—			—
Net loss attributable to ordinary shareholders of XPeng Inc.		(935,054	)		(787,421	)		(786,561	)		)
Net loss		(649,761	)		(787,421	)		(786,561	)		)
Other comprehensive loss
Foreign currency translation adjustment, net of nil tax		(11,976	)		(565,814	)		101,092
Total other comprehensive loss		(11,976	)		(565,814	)		101,092
Total comprehensive loss		(661,737	)		(1,353,235	)		(685,469	)		)
Accretion on Preferred Shares to redemption value		(285,293	)		—			—
Comprehensive loss attributable to ordinary shareholders of XPeng Inc.		(947,030	)		(1,353,235	)		(685,469	)		)

All values are in US Dollars.

10

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(All amounts in thousands, except for share and per share data)

	Three Months Ended
	March 31, 2020			December 31, 2020			March 31, 2021			March 31, 2021
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	RMB			RMB			RMB
Weighted average number of ordinary shares used in computing net loss per share
Basic and diluted		362,747,375			1,495,225,306			1,586,718,206
Net loss per share attributable to ordinary shareholders
Basic and diluted		(2.58	)		(0.53	)		(0.50	)		)
Weighted average number of ADS used in computing net loss per share
Basic and diluted		181,373,688			747,612,653			793,359,103
Net loss per ADS attributable to ordinary shareholders
Basic and diluted		(5.16	)		(1.05	)		(0.99	)		)

All values are in US Dollars.

11

XPENG INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share and per share data)

	Three Months Ended
	March 31, 2020			December 31, 2020			March 31, 2021			March 31, 2021
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
	RMB			RMB			RMB
Loss from operations		(649,283	)		(1,121,177	)		(903,933	)		)
Share-based compensation expenses		—			74,807			90,276
Non-GAAP loss from operations		(649,283	)		(1,046,370	)		(813,657	)		)
Net loss		(649,761	)		(787,421	)		(786,561	)		)
Fair value gain of convertible redeemable preferred shares		4,968			—			—
Share-based compensation expenses		—			74,807			90,276
Non-GAAP net (loss)/Gain		(644,793	)		(712,614	)		(696,285	)		)
Net loss attributable to ordinary shareholders		(935,054	)		(787,421	)		(786,561	)		)
Fair value gain of convertible redeemable preferred shares		4,968			—			—
Share-based compensation expenses		—			74,807			90,276
Accretion on Preferred Shares to redemption value		285,293			—			—
Non-GAAP net loss attributable to ordinary shareholdersof XPeng Inc.		(644,793	)		(712,614	)		(696,285	)		)
Weighted average number of ordinary shares used in calculatingNon-GAAP net loss per share
Basic and diluted		362,747,375			1,495,225,306			1,586,718,206
Non-GAAP net loss per ordinary share
Basic and diluted		(1.78	)		(0.48	)		(0.44	)		)
Weighted average number of ADS used in calculatingNon-GAAP net loss per share
Basic and diluted		181,373,688			747,612,653			793,359,103
Non-GAAP net loss per ADS
Basic and diluted		(3.56	)		(0.95	)		(0.88	)		)

All values are in US Dollars.

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