XPeng (XPEV) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 24, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello ladies and gentlemen. Thank you for standing by for the first quarter 2023 earnings conference call for XPeng Inc.

At this time, all participants are in listen-only mode. After management’s remarks, there will be a question and answer session. Today’s conference call is being recorded.

I will now turn the call over to your host, Mr. Alex Xie, Head of Investor Relations of the company. Please go ahead, Alex.

Alex Xie

Thank you. Hello everyone and welcome to XPeng’s first quarter 2023 earnings conference call. Our financial and operating results were issued via newswire services earlier today and are available online. You can also view the earnings press release by visiting the IR section of our website at ir.xiaopeng.com.

Participants on today’s call from our management will include co-Founder, Chairman and CEO, Mr. He Xiaopeng, Vice Chairman and President, Dr. Brian Gu, Vice President of Finance, Mr. Dennis Lu, Vice President of Corporate Finance and Investments, Mr. Charles Zhang, and myself. Management will begin with prepared remarks and the call will conclude with a Q&A session.

A webcast replay of this conference call will be available on the IR section of our website.

Before we continue, please note that today’s discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties; as such, the company’s results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the relevant public filings of the company as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements except as required under applicable law.

Please also note that XPeng’s earnings press release and this conference call include disclosure of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. XPeng’s earnings press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures.

I will now turn the call over to our co-Founder, Chairman and CEO, Mr. He Xiaopeng. Please go ahead.

Xiaopeng He

[translated] Hi everyone. Beginning in the first quarter of 2023 facing future competition, XPeng has centered around change. With that in mind, I took action to make considerable changes to XPeng’s business plan, organizational structure and management team. As a result, some senior management who completed their mission on our journey from zero to one have stepped down. Nonetheless, more new talent full of energy and entrepreneurial passion have quickly stepped up and taken on leadership positions through both internal promotions and external recruitment.