← XPENG INC.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
| Net Income (Loss) Attributable to Parent | — | ($3.7b) | ($418.7m) | ($4.9b) | ($9.1b) | ($10.4b) | ($5.8b) | ($1.1b) | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($4.6b) | ($749.4m) | ($4.9b) | ($9.1b) | ($10.4b) | ($5.8b) | ($1.1b) | |
| Depreciation | — | $125.5m | $46.4m | $573.2m | $915.5m | $1.6b | $1.6b | $1.8b | |
| Amortization of Intangible Assets | $3.5m | $7.7m | $3.1m | $25.9m | $65.7m | $230.5m | $537.7m | $567.4m | |
| Depreciation of property, plant and equipment | $53.5m | $125.5m | $303.0m | $573.2m | $915.5m | $1.6b | $1.6b | $1.8b | |
| Amortization of right-of-use assets | $34.5m | $88.2m | $109.5m | $229.0m | $379.2m | $182.2m | $413.3m | $540.1m | |
| Amortization of land use rights | $4.1m | $5.3m | $5.3m | $9.6m | $50.3m | $48.8m | $49.9m | $75.8m | |
| Deferred Income Tax Expense (Benefit) | — | — | $0 | $0 | $0 | $18.8m | ($92.1m) | ($19.8m) | |
| Deferred tax liabilities | — | — | — | $0 | $0 | $18.8m | ($62.1m) | ($11.6m) | |
| Share-based Payment Arrangement, Noncash Expense | — | $517k | $152.7m | $379.9m | $710.5m | $550.5m | $473.7m | $564.3m | |
| Share-based Payment Arrangement, Expense | — | — | $996.4m | $379.9m | $710.5m | $550.5m | $473.7m | $416.2m | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | $0 | $0 | $26.4m | $8.7m | $0 | $885k | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of intangible assets | — | — | $0 | $0 | $26.4m | $8.7m | $0 | $885k | |
| Share-based compensation | $1.6m | $517k | $996.4m | $379.9m | $710.5m | $550.5m | $473.7m | $564.3m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $69.4m | ($1.2m) | ($945k) | ($36.5m) | ($15.7m) | ($4.9m) | ($21.8m) | ($26.0m) | |
| Gain (Loss) on Disposition of Intangible Assets | — | — | — | $0 | $0 | ($409k) | ($74k) | ($651k) | |
| Income (Loss) from Equity Method Investments | — | — | — | — | $4.1m | $54.7m | ($29.1m) | $30.9m | |
| Income Tax Expense (Benefit) | — | $1k | $187k | $26.0m | $24.7m | $36.8m | ($69.8m) | $13.6m | |
| Operating Lease, Expense | — | — | — | — | $22.8m | $40.2m | $0 | $0 | |
| Other Nonoperating Income (Expense) | — | $4.4m | $13.8m | $383.8m | $36.3m | $41.9m | $108.2m | $44.8m | |
| Share of results of equity method investees | — | — | $0 | $0 | ($4.1m) | ($54.7m) | $29.1m | ($30.9m) | |
| Operating lease liabilities | — | — | ($108.1m) | ($237.8m) | ($380.0m) | ($172.6m) | ($405.7m) | ($535.1m) | |
| Changes in operating assets and liabilities: | |||||||||
| Additional Financial Items | |||||||||
| Increase (Decrease) in Accounts Receivable | — | $504.6m | $91.3m | $1.6b | $1.2b | ($1.1b) | ($246.3m) | ($386.5m) | |
| Increase (Decrease) in Inventories | — | $394.3m | $150.4m | $1.9b | $2.5b | $2.4b | $1.1b | $5.8b | |
| Increase (Decrease) in Accounts Payable | — | $739.1m | $637.2m | $7.3b | $1.9b | $8.0b | $870.0m | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $11.8m | $8.4m | $12.4m | $313.6m | ($1.5b) | $97.1m | ($49.5m) | $286.0m | |
| General and Administrative Expense | — | $496.0m | $1.2b | $1.0b | $1.7b | $1.5b | $1.3b | $2.0b | |
| Goodwill | — | — | — | — | — | $34.1m | $34.1m | $34.1m | |
| Inventory Write-down | — | $109.5m | $14.2m | $162.4m | $220.3m | $1.1b | $943.7m | $555.4m | |
| Investment Income, Interest | — | $88.8m | $20.4m | $743.0m | $1.1b | $1.3b | $1.4b | $1.2b | |
| Operating Expenses | — | $3.2b | $712.1m | $9.4b | $11.9b | $11.8b | $13.3b | $17.2b | |
| Net loss | ($1.4b) | ($3.7b) | ($418.7m) | ($4.9b) | ($9.1b) | ($10.4b) | ($5.8b) | ($1.1b) | |
| Loss of disposal of intangible assets | — | — | — | $0 | $0 | $409k | $74k | $651k | |
| Current expected credit loss of accounts receivable | — | $3.8m | $6.2m | $16.2m | $11.4m | $18.2m | $20.3m | $66.2m | |
| Current expected credit loss (gain) of installment payment receivables | — | $833k | $3.5m | $50.0m | $44.0m | $47.4m | ($16.7m) | $63.2m | |
| Current expected credit loss (gain) of other current assets | — | $0 | $369k | $3.6m | $12.3m | $4.8m | $1.9m | ($3.1m) | |
| Inventory write-downs | $0 | $109.5m | $92.6m | $162.4m | $220.3m | $1.1b | $943.7m | $555.4m | |
| Exchange (gain) loss from foreign currency transactions | $11.8m | ($8.4m) | ($81.2m) | ($313.6m) | $1.5b | ($97.1m) | $49.5m | ($286.0m) | |
| Interest income | ($55.9m) | ($66.8m) | ($65.7m) | ($351.9m) | ($237.7m) | ($352.2m) | ($40.2m) | ($168.3m) | |
| Fair value loss on derivative assets or derivative liabilities | ($254.4m) | ($27.7m) | ($208.7m) | ($79.3m) | ($59.4m) | $410.4m | $0 | $0 | |
| Fair value (gain) loss on derivative liability relating to the contingent consideration | — | — | — | $0 | $0 | ($29.3m) | ($234.2m) | $117.3m | |
| Investment loss (gain) on long-term investments | — | — | — | ($591.5m) | ($25.1m) | $224.4m | $262.0m | ($500.5m) | |
| Accounts and notes receivable | ($35.4m) | ($504.6m) | ($595.9m) | ($1.6b) | ($1.2b) | $1.1b | $246.3m | $386.5m | |
| Inventory | ($137.9m) | ($394.3m) | ($981.5m) | ($1.9b) | ($2.5b) | ($2.4b) | ($1.1b) | ($5.8b) | |
| Amounts due from related parties | ($27.0m) | $4.4m | $21.9m | ($32.1m) | ($14.3m) | $34.2m | ($30.8m) | ($58.5m) | |
| Prepayments and other current assets | ($277.7m) | ($418.1m) | ($792.9m) | ($652.0m) | ($219.1m) | $329.7m | ($321.1m) | ($2.2b) | |
| Other non-current assets | ($24.7m) | ($5.6m) | ($30.8m) | ($68.1m) | ($23.1m) | $150.9m | ($40.2m) | ($34.4m) | |
| Accounts payable | — | — | — | — | — | $6.2b | $1.7b | $2.8b | |
| Notes payable | — | — | — | — | — | $1.8b | ($820.4m) | $11.3b | |
| Deferred revenue | $2.4m | $83.1m | $34.2m | $588.9m | $186.0m | $216.7m | $798.5m | $570.6m | |
| Accruals and other liabilities | $324.8m | $520.5m | $723.0m | $2.3b | $119.3m | $1.1b | $1.5b | $3.4b | |
| Other non-current liabilities | $0 | $26.2m | $266.9m | $187.9m | $237.1m | $443.5m | $95.3m | ($904.4m) | |
| Installment payment receivables | — | ($156.6m) | ($401.2m) | ($2.2b) | ($776.6m) | ($1.5b) | ($2.1b) | ($3.1b) | |
| Amounts due to related parties | $0 | $678k | $11.4m | $12.9m | ($17.7m) | $1.4m | $5.9m | ($8.3m) | |
| Income taxes payable | $0 | $0 | $185k | $21.5m | $4.9m | ($21.9m) | $8.8m | $30.2m | |
| Maturity (Placement) of short-term deposits | — | $760.0m | ($979.9m) | ($24.9b) | $11.9b | $5.4b | ($3.0b) | $1.2b | |
| (Placement) Maturity of long-term deposits | — | — | — | — | ($3.8b) | ($2.5b) | $5.2b | ($2.2b) | |
| Placement of restricted short-term deposits | — | — | — | — | $0 | ($1.0b) | ($588.0m) | ($619.1m) | |
| Maturity of restricted short-term deposits | — | — | — | — | $0 | $1.0b | $558.0m | $433.1m | |
| Placement of restricted long-term deposits | — | — | — | — | $0 | ($580.0m) | ($1.1b) | ($550.0m) | |
| Receipt of government subsidy related to assets | $2.0m | $83.2m | $243.8m | $13.0m | $166.3m | $111.9m | $19.2m | $60.5m | |
| Purchase of intangible assets | ($47.5m) | ($76.8m) | ($426.1m) | ($288.1m) | ($98.0m) | ($124.8m) | ($196.9m) | ($191.2m) | |
| Purchase of land use rights | ($191.6m) | $0 | $0 | ($223.1m) | ($306.0m) | ($90.3m) | ($4.9m) | $0 | |
| Disposal of long-term investments | — | — | $16.0m | $0 | $165.0m | $0 | $0 | $82.4m | |
| Cash paid for long-term investments | $0 | $0 | ($1.0m) | ($959.9m) | ($618.8m) | ($188.7m) | ($144.2m) | ($103.0m) | |
| Cash paid for an asset acquisition, net of cash acquired | — | — | — | $0 | $0 | ($509.9m) | $0 | $0 | |
| Purchase of retained asset-backed notes and securities | — | — | — | — | — | $0 | $0 | ($80.2m) | |
| Proceeds from maturities of retained asset-backed notes and securities | — | — | — | — | — | $0 | $0 | $27.6m | |
| Proceeds from issuance of ordinary shares to Volkswagen Group | — | — | — | $0 | $0 | $5.0b | $0 | $0 | |
| Proceeds from borrowings | $1.2b | $1.6b | $1.0b | $840.1m | $6.8b | $8.3b | $10.7b | $8.9b | |
| Repayments of borrowings | ($320.0m) | ($748.1m) | ($1.4b) | ($982.9m) | ($681.7m) | ($5.2b) | ($9.5b) | ($8.3b) | |
| Repayments of amounts to a related party | $0 | $0 | ($1.1b) | $0 | $0 | $0 | ($27.4m) | $0 | |
| Repayments of finance lease liabilities | — | — | $0 | $0 | ($15.4m) | ($113.9m) | ($31.8m) | ($61.8m) | |
| Cash paid for an asset acquisition | — | — | — | $0 | $0 | ($710.5m) | $0 | $0 | |
| Cash acquired relating to an asset acquisition | — | — | — | $0 | $0 | $200.6m | $0 | $0 | |
| Ordinary shares issued for the acquisition of DiDi's smart auto business | — | — | — | $0 | $0 | $3.1b | $0 | $0 | |
| Fair value of contingent consideration relating to the acquisition of DiDi's smart auto business | — | — | — | $0 | $0 | $694.4m | $0 | $0 | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | — | $27.7m | $208.7m | $79.3m | $59.4m | ($410.4m) | $0 | $0 | |
| Net Cash Provided by (Used in) Operating Activities | ($1.6b) | ($3.6b) | ($21.4m) | ($1.1b) | ($8.2b) | $956.2m | ($2.0b) | $8.3b | |
| Cash flows from investing activities: | |||||||||
| Payments to Acquire Property, Plant, and Equipment | ($770.3m) | $1.8b | $123.5m | $2.3b | $4.3b | $2.1b | $2.2b | $3.2b | |
| Cash acquired relating to a business combination | — | — | — | $0 | $0 | $684.2m | $0 | $0 | |
| Maturity (Placement) of short-term investments | ($1.9b) | $1.9b | ($2.3b) | $62.3m | $1.6b | $524.2m | $62.8m | ($2.3b) | |
| Net Cash Provided by (Used in) Investing Activities | — | $740.3m | ($675.3m) | ($33.1b) | $4.8b | $631.2m | ($1.3b) | ($7.3b) | |
| Cash flows from financing activities: | |||||||||
| Repayment of debt from third party investors | — | — | $0 | $0 | ($98.0m) | $0 | ($500.0m) | $0 | |
| Proceeds from Noncontrolling Interests | — | $98.0m | $0 | $1.7b | — | — | — | — | |
| Dividends Payable | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Cash Provided by (Used in) Financing Activities | $6.7b | $3.6b | $5.3b | $14.6b | $6.0b | $8.0b | $669.3m | $514.8m | |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | ($14.8m) | $5.1m | ($650.1m) | ($363.3m) | $461.7m | ($14.6m) | $35.7m | $222.6m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($14.8m) | $776.2m | $4.5b | ($19.9b) | $3.1b | $9.6b | ($2.6b) | $1.7b | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $1.5b | $776.2m | $29.1b | ($19.9b) | $3.1b | $9.6b | ($2.6b) | $1.7b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($14.8m) | $369.0m | $4.8b | $11.6b | $14.7b | $24.3b | $21.7b | $23.4b | |
| Cash, Cash Equivalents, and Short-term Investments | — | $1.9b | $29.2b | $11.0b | $14.6b | $21.1b | $18.6b | $17.3b | |
| Cash, cash equivalents and restricted cash at beginning of the year | $1.6b | $2.4b | $31.5b | $11.6b | $14.7b | $24.3b | $21.7b | $23.4b | |
| Supplemental disclosure of cash flow information: | |||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | ($29.7m) | $26.4m | $11.7m | $126.1m | $162.5m | $306.7m | $465.0m | $503.7m | |
| Income Taxes Paid, Net | — | — | — | $0 | $36.1m | $25.7m | ($33.6m) | $17.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.