Today, Xiaopeng Motors W (09868. HK) saw its stock price rise after announcing its 2023 performance. As of noon trading, it rose 3.27% to HKD 41.1.
Note: The trend of Xiaopeng Motors - W
In terms of news, Xiaopeng Motors announced its full year and fourth quarter financial reports for 2023 yesterday. In 2023, Xiaopeng Automobile achieved a revenue of 30.68 billion yuan, a year-on-year increase of 14.2%; The net loss was 10.38 billion yuan, compared to 9.14 billion yuan in 2022, with a year-on-year increase of 13.6%; The annual gross profit margin of automobiles is -1.6%.
Note: The annual performance of Xiaopeng Motors
At first glance, Xiaopeng Motors did not show significant growth in performance in 2023. However, based on the fourth quarter performance of the company, the revenue was RMB 13.05 billion, an increase of 153.9% compared to the same period in 2022; The net loss was RMB 1.348 billion, a year-on-year decrease of 42.9%; The gross profit margin of automobiles is 4.1%.
Note: Q4 performance of Xiaopeng Motors
More noteworthy is that He Xiaopeng stated at the Q4 2023 financial performance meeting of Xiaopeng Motors that from a cash flow perspective, the positive free cash flow in the second half of last year exceeded 6 billion yuan, and for the first time, the operating cash flow for the whole year turned positive.
As of the end of 2023, the cash on hand exceeded 45 billion yuan. As of the end of 2022, the company's cash was 38.25 billion yuan.
Xiaopeng Motors will enter the 10-15 million market
In addition to several key indicators rebounding in the fourth quarter, He Xiaopeng stated that Peng Automobile will officially launch a new brand at the Beijing Auto Show in April, officially entering the 100000 to 150000 yuan automotive market. The first model will be launched and delivered in the third quarter of this year. It is reported that the new brand name is MONA.
The market has long heard of this news. At the Q3 2023 performance meeting, He Xiaopeng stated that the research and development progress of the first A-level intelligent pure electric sedan (project code: MONA) of the new brand, which is in strategic cooperation with Didi, is smooth and is expected to be launched in the third quarter of 2024. In the future, Xiaopeng Motors will be the first to launch models that support autonomous driving in the mainstream 150000 yuan market segment, and widen the intergenerational gap with models in the same price range.
How does the market look in the first quarter of this year?
Xiaopeng Motors predicts that its total revenue in the first quarter of 2024 will range from 5.8 billion yuan to 6.2 billion yuan, with a delivery volume of 21000 to 22500 vehicles. Faced with fierce market competition, He Xiaopeng, CEO of Xiaopeng Motors, stated that the period from 2024 to 2027 will be the knockout stage for China's intelligent electric vehicles, and this year is the starting point for the industry to enter "high-intensity competition".