Revenue Performance: Total revenue rose to CNY 8.53 billion, up 25% YoY and 68.5% QoQ. Vehicle sales contributed CNY 7.84 billion, representing a 25.7% increase YoY and 77.3% QoQ.
Profitability Trends: Gross margin stood at -2.7%, significantly lower than 13.5% in Q3 2022, largely impacted by negative margins from legacy models. Operating loss was CNY 3.16 billion, reflecting broader industry pricing pressures and increased promotional costs.
Cash Flow Management: XPeng generated positive free cash flow of CNY 1 billion and had CNY 36.5 billion in cash and cash equivalents at quarter-end, indicating prudent cash management practices during challenging market conditions.
Balance Sheet Health: The current ratio is 1.44, suggesting solid liquidity, while total liabilities stand at CNY 41.75 billion against total assets of CNY 70.54 billion, reflecting a debt-to-equity ratio of 0.49, indicating a relatively manageable debt level compared to equity.