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Zscaler Appoints Chris Kozup as Chief Marketing Officer

Former Aruba, Cisco, and Nutanix Executive to Lead Marketing Strategy and Expansion for Next Phase of Growth

SAN JOSE, Nov. 12, 2020 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today announced Chris Kozup has been appointed Chief Marketing Officer. Kozup is responsible for global marketing strategy and execution. With more than 20 years in the industry, Kozup brings extensive enterprise technology marketing expertise to help Zscaler realize its next phase of growth. Kozup will report directly to Jay Chaudhry, Zscaler’s Chairman and Chief Executive Officer.

“Zscaler is at the forefront of helping customers achieve their digital transformation goals through an industry leading, cloud-native approach to securing users, applications and data. Chris’s successful track record as a marketing executive and his customer-centric mindset make him the ideal leader to help further accelerate Zscaler’s growth,” said Chaudhry. “I am excited to welcome Chris to the team and to partner with him to extend our customer reach and engagement.”

Kozup was most recently Chief Marketing Officer at Aruba, a Hewlett Packard Enterprise Company, where he was responsible for the strategy and execution of global marketing, implementing scalable and sustainable marketing programs for awareness, digital demand generation, sales enablement, channel marketing, and influencer communities. He also led marketing teams at industry-leading high-tech companies such as Nutanix and Cisco. Earlier in his career, Chris was an industry analyst at the META Group responsible for advising enterprise organizations on IT best practices.

“It has been inspiring to watch Zscaler help thousands of organizations ensure the safety and productivity of their workforce while accelerating their digital transformation efforts over the past year,” said Kozup. “Zscaler’s vision has been to build the world’s most scalable cloud security platform to secure a mobile and remote workforce, and I am thrilled to be joining the team that has helped so many companies achieve these goals.”

About Zscaler

Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

Zscaler™, Zscaler Zero Trust Exchange™, Zscaler Internet Access™, and Zscaler Private Access™, ZIA™, and ZPA™ and Zscaler B2B™ are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

Media Contact:

Natalia Wodecki
[email protected]

Investor Relations Contact:

Bill Choi, CFA
[email protected]

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Natuzzi S.P.A. Announces Release Date For 2020 Third Quarter and First Nine Months Financial Results

Natuzzi S.P.A. Announces Release Date For 2020 Third Quarter and First Nine Months Financial Results

SANTERAMO IN COLLE, Bari, Italy–(BUSINESS WIRE)–
Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or the “Company”) will disclose 2020 third quarter and first nine months financial results on Friday November 27, 2020, after market close.

A copy of the press release will be filed with the U.S. Securities and Exchange Commission and also available at https://www.natuzzigroup.com/en-EN/ir/investors.html under the “SEC Filings” section.

About Natuzzi S.p.A.

Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is Italy’s largest furniture house and one of the most important global players in the furniture industry with an extensive manufacturing footprint and a global retail network. Natuzzi is the Italian lifestyle best-known brand in the upholstered furnishings sector worldwide (Brand Awareness Monitoring Report – Ipsos 2018) and has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), OHSAS 18001 certified (Safety on the Workplace) and FSC® certified (Forest Stewardship Council).

NATUZZI INVESTOR RELATIONS

Piero Direnzo | tel. +39.080.8820.812 | [email protected]

NATUZZI CORPORATE COMMUNICATION

Vito Basile (Press Office) | tel. +39.080.8820.676 | [email protected]

KEYWORDS: Europe United States Italy North America

INDUSTRY KEYWORDS: Professional Services Retail Other Professional Services Other Retail Home Goods Manufacturing Other Manufacturing

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Yeahka Achieves Stellar Latest Performance and Continues to Expand Its Marketing Services

PR Newswire

HONG KONG, Nov. 12, 2020 /PRNewswire/ — YEAHKA LIMITED (“Yeahka” or the “Company”, stock code: 9923.HK), a leading technology platform in China, recently announced an agreement to acquire a 42.5% stake in Beijing Chuangxinzhong Technology Co., Ltd. (“Chuangxinzhong”) to accelerate expansion of its marketing services. 

As China’s macro-economy recovers after Covid-19, as of October 31, 2020, Yeahka presents a stellar record of key operational performance, building a solid foundation for future development:

  • The number of total impressions on Yeahka’s precision marketing platform from July 1 to October 31, 2020 has nearly doubled compared with the first half of this year;
  • As of October 31, 2020, the number of active payment service customers has rebounded to pre-pandemic level. The number of consumers reached via the Company’s payment service approached 600 million and has continued to grow quarter-to-quarter;
  • The number of App-based transaction counts during July and October 2020 has continued to increase rapidly, with growth exceeding 30% over the first half of the year.

The cooperation between Yeahka and Chuangxinzhong will enable the Company to achieve more effective marketing services for digital content, as well as to further improve the Company’s Data Management Platform (DMP) driven by artificial intelligence and machine learning through diversified media channels, which will in turn help customers achieve more precision advertising, and facilitate sustainable and rapid development of the Company’s precision marketing business.

The Company currently intends to acquire an additional 42.5% equity interest of Chuangxinzhong going forward, and further announcements about the additional acquisition will be made by the Company when and if necessary. For further details about the acquisition, please refer to the Company’s announcement on the Hong Kong Stock Exchange dated November 9, 2020.

About YEAHKA LIMITED (9923.HK)

Yeahka is a leading payment-based technology platform in China providing payment and technology-enabled business services to merchants and consumers. According to Oliver Wyman, we are the second largest non-bank independent QR code payment service provider in China, with approximately 14.0% market share in terms of transaction count in 2019. The Company’s value proposition is a cohesive ecosystem that enables seamless, convenient and reliable payment transactions between merchants and consumers, and leveraging its vast customer base and data assets accumulated from payment services, to further offer a rich variety of technology-enabled business services, including (i) merchant SaaS products, which help customers improve their operational efficiency, (ii) marketing services, allowing customers to effectively reach their target markets, and (iii) fintech services, which cater to customers’ financial needs.

 

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SOURCE Yeahka

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A strong recovery, and we’re ready for 2021

PR Newswire

STOCKHOLM, Nov. 12, 2020 /PRNewswire/ —

  • EBITDA for the quarter was SEK 27.0 million, double the figure from the previous quarter and on a level with the corresponding quarter in the previous year. 
  • Pronounced increase in sales in key European markets, for example Germany and Sweden. Allgon has reorganised and adapted aspects of its sales operation in order to use digital channels to safeguard its sales and service functions. 
  • Continued preparations to enable the organisation to manoeuvre around any restrictions brought about by the pandemic. If a second wave impacts the market significantly, we will be ready for it.
  • As of the last of September, WSI has been sold to Sigma Connectivity as a further step to refine Allgon’s operations towards industrial radio control.

Third quarter 2020

   

  • Net sales totalled SEK 121.8 (126.1) million, a decrease of 3.4 percent compared to the corresponding quarter in the previous year. 
  • EBITDA in the quarter amounted to SEK 27.0 (26.8) million, representing an EBITDA margin of 22.2 (21.3) percent. 
  • Operating profit amounted to SEK 20.1 (20.7) million, representing an operating margin of 16.5 (16.4) percent. 
  • Earnings for the quarter amounted to SEK 8.8 (15.0) million, giving an earning per share of SEK 0.16 (0.27). 
  • The cash flow from operating activities amounted to SEK -4.9 (7.8) million. 

January to September 2020

           

  • Net sales totalled SEK 370.9 (391.8) million, a decrease of 5.3 percent compared to the corresponding period in the previous year. 
  • EBITDA in the period amounted to SEK 61.7 (73.9) million, representing an EBITDA margin of 16.6 (18.9) percent. 
  • Operating profit amounted to SEK 11.5 (54.6) million, representing an operating margin of 3.1 (13.9) percent. 
  • Earnings for the period amounted to SEK -18.0 (30.5) million, giving an earnings per share of SEK -0.32 (0.54). 
  • The cash flow from operating activities was SEK 22.0 (50.4) million. 

 

CEOs comments

Allgon is experiencing a continuing recovery in the sector. The demand for radio control solutions for machinery, installations and cranes is increasing month by month. With our 10,000 customers, our business is on a firm foundation. We know, however, that the pandemic may spring surprises and we have prepared ourselves accordingly. We have managed to maintain our cash levels, kept costs under control and established contingency plans, leading to a strong result for the third quarter. 

With the economy fluctuating, the sector has increasingly recognised the need to streamline and also safeguard production and service. Of course, investments can be postponed if new temporary concerns arise. Despite this, we are seeing a genuine demand for technology, software and service that immediately give measurable results. This is very apparent in our two subsidiaries Tele Radio and Åkerströms.

In the past year, the strength we have in our broad customer base in five continents has been particularly noticeable. When a sector or a region is more defensive, other sectors or countries act as a counterbalance. Currently, demand is strongest in major exporting regions such as southern Germany, Sweden, the Netherlands and Switzerland. Sectors that are doing particularly well are construction, offshore wind power, specialist vehicles and machinery for the construction industry. These are all typical customers who need to be able to control, fine-tune and assess machinery, cranes and installations 24 hours a day. In some markets and sectors, there has been less demand and business has been sluggish. This is particularly the case with customers in the United Kingdom and the automotive, oil and shipping sectors. We have acquired new customers, mainly in our newest markets including Brazil, France and Russia. 

Alongside this, we are continuing to put measures in place to enable us to cope with any setback in the global recovery. We have made sure that Allgon and our suppliers are able to act as quickly and decisively as we did in the spring. In regard to our customer relationships, some of which go back for several decades, we are well placed to develop business whatever the state of the economy. 

Increased digitalisation

By moving towards a more digitally-based way of working, we will ensure we are less affected by restrictions arising from the pandemic, and we will increasingly undertake meetings and deliver adaptations, service functions, sales and training using this approach. This is most apparent in more mature countries such as Sweden, the United States and Finland where IT infrastructure is most advanced.  In the United States, for example, we have used digital channels to strike deals with brand new customers and install systems remotely. This could be indicative of the way we work in the future. For example, we have adapted our physical maintenance services for customers to the new socially-distanced circumstances. Our new mobile service unit for maintenance and service at our customers’ sites has had a very positive reception. And our new software that collects process data from machinery is now installed at two major companies in Sweden, Boliden and SSAB. This is yet another area in which we can introduce successful developmental projects into all markets.

I have been hugely impressed by Allgon’s employees in the past few quarters. Colleagues with experience of global crises have provided stability and a long-term perspective. Dedicated younger employees, meanwhile, have contributed fresh energy and creative solutions. 
Not all competitors in our sector have got through the year so successfully, and so we have been able to win new customers in countries such as the Netherlands and Italy. 

Our expansion continues

Allgon believes that there are major opportunities within industrial radio control for the company to grow and become the global leader. Our growth strategy centres on organic growth and selective acquisitions that complement our company. It remains our objective to establish a new subsidiary for Tele Radio during the year. Production in China and Vietnam is in full swing. We have moved some aspects of production between factories to further improve efficiency and resilience. 
One important element of our work during the year has been the streamlining process that will enable Allgon to focus solely on its core activity of industrial radio control. During the quarter, Allgon has sold a further niche subsidiary, and industrial radio control now accounts for 90 percent of turnover. The remaining operation, Smarteq Wireless, has performed well and has won a pioneering order in the V2X (Vehicle-to-everything) field, i.e. communication between vehicles or between vehicles and their surroundings. 

In summary, in the third quarter, despite an unsettled and challenging market, we have generated new business in radio control while continuing our streamlining process. We have also exercised restraint in terms of expenditure, leading to strong results. Allgon’s mantra of “offering a safe, user-friendly work environment for our customers” will continue to resonate in everything we do. And, whatever direction the economy takes, we will be the premier company for our customers, employees and suppliers. 

We are working very hard to deliver a reconfigured Allgon, ready to take the steps needed to continue developing and growing the business. We are already looking forward to 2021.

Johan Hårdén, CEO & President, Allgon

Stockholm, Sweden, 12 November 2020

The complete report can be downloaded at https://allgon.se/en/investors/reports/

This disclosure contains information that Allgon AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-11-202008:30 CET.

 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/allgon-ab/r/a-strong-recovery–and-we-re-ready-for-2021,c3235616

The following files are available for download:

Contact :

Johan Hårdén

Ceo

+46 733 85 92 19

[email protected]

 

 

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SOURCE Allgon AB

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Biofrontera AG resolves mandatory conversion of subordinated mandatory convertible bonds

Leverkusen, Germany, Nov. 12, 2020 (GLOBE NEWSWIRE) — Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, has issued a 1.00% qualified subordinated mandatory convertible bond 2020/2021 (ISIN: DE000A3E4548 / WKN: A3E454) in August 2020. Within the scope of the issuance, 2,638,150 qualified subordinated mandatory convertible bearer bonds (“Bonds”) with a nominal value of EUR 3.00 each were issued. The term of the Bonds began on August 20, 2020 and will end on December 20, 2021. Pursuant to Section 8 (2) of the Bond terms and conditions, however, the Company is entitled to a mandatory conversion at any time without limitation in time after the price of the Company’s share has exceeded EUR 4.50 (“Mandatory Conversion Trigger Price”). The Mandatory Conversion Trigger Price was exceeded after the commencement of the term of the Bonds.

The Management Board with the approval of the Supervisory Board decided today to exercise the right to mandatory conversion pursuant to Section 8 (2) of the Bond terms and conditions. The notice of mandatory conversion will be published shortly in the Federal Gazette.

Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen

ISIN: DE0006046113
WKN: 604611

Contact: Biofrontera AG
Tel.: +49 (0214) 87 63 2 0, Fax.: +49 (0214) 87 63 290
E-mail: [email protected]

Forward Looking Statements:

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate” and “intend,” among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section “Risk Factors,” and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.

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Pershing Square Capital Management, L.P. Selects Northern Trust for Multi-Jurisdictional Fund Administration Services

Pershing Square Capital Management, L.P. Selects Northern Trust for Multi-Jurisdictional Fund Administration Services

GUERNSEY–(BUSINESS WIRE)–
Northern Trust (Nasdaq: NTRS) was recently appointed to provide fund administration services for Pershing Square Capital Management, L.P. (“Pershing Square”). Under the mandate, Northern Trust will support Pershing Square’s Guernsey, Cayman and Delaware domiciled funds.

“Northern Trust has all the capabilities we were looking for in our administration partner,” said Pershing Square chief financial officer Michael Gonnella. “Northern Trust is able to execute the complex daily, weekly and monthly requirements for our funds and deliver seamless service across geographies and products.”

“We’re very excited to begin this relationship with Pershing Square,” said Jeff Boyd, chief executive officer, Northern Trust Hedge Fund Services. “We pride ourselves on our global reputation and are thrilled to support Pershing Square’s investment business with a consistent high-quality service across regions.”

Dave Sauvarin, country head, Channel Islands, Northern Trust, said: “We are delighted that Northern Trust in Guernsey has been named Administrator and Company Secretary to Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) and look forward to playing an important role in this multi-jurisdictional relationship with Pershing Square.”

Northern Trust offers an extensive range of asset servicing solutions for many of the world’s leading asset managers and asset owners across sectors including private equity, private debt, real estate, infrastructure and hedge funds. Its broad range of services includes fund administration, depositary, custody, middle office, banking, treasury and sophisticated reporting solutions.

About Pershing Square Capital Management, L.P.

Pershing Square Capital Management, L.P. (“PSCM”) is an investment adviser registered with the U.S. Securities and Exchange Commission and based in New York. PSCM was formed in 2003 under the laws of the State of Delaware in the United States. PSCM has assets under administration of US $9.4B as of September 30, 2020.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2020, Northern Trust had assets under custody/administration of US $13.1 trillion, and assets under management of US $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene

+44 (0) 20 7982 2176

[email protected]

Marcel Klebba

+44 (0) 207 982 1994

[email protected]

US & Canada:

John O’Connell

+1 312 444 2388

John_O’[email protected]

KEYWORDS: North America United States United Kingdom Europe Guernsey Illinois

INDUSTRY KEYWORDS: Consulting Banking Professional Services Finance

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Renesas Launches New “Sustainability at Renesas” Website

Renesas Launches New “Sustainability at Renesas” Website

Introducing Renesas’ Initiatives Contributing to the Development of Sustainable Society

TOKYO–(BUSINESS WIRE)–
Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, today launched a new sustainability website, “Sustainability at Renesas”, that provides all stakeholders with information on Renesas’ commitments and initiatives on realizing a sustainable society. Visit http://www.renesas.com/sustainability to view the company’s new sustainability reporting website and learn more.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201112005453/en/

Sustainability at Renesas (Graphic: Business Wire)

Sustainability at Renesas (Graphic: Business Wire)

“In the midst of the current COVID-19 global pandemic, Renesas remains even more committed to the contributions we make to realizing a sustainable society,” said Hidetoshi Shibata, President and CEO at Renesas. “Renesas has been providing various non-financial information through Corporate Governance Reports and Environmental Reports. We launched the new Sustainability website today to provide our stakeholders with easy access to information regarding our Environmental, Social and Governance (ESG) efforts. We will continue to report the progress of our commitments on our website to meet the needs of all of our stakeholders in order to have our direction and efforts better understood.”

The new sustainability website addresses 8 topics that the company has identified as its key drivers of sustained value: Our Business; Environment; Our People; Supply Chain; Innovation; Governance; Quality; and Giving Back to the Community, each category introducing our efforts to realizing a sustainable society. The “Sustainable Products and Solutions” in the Our Business category highlights our products and solutions that contribute to realizing a society that is energy efficient and is safe and secure.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.

(Remarks) All registered trademarks or trademarks are the property of their respective owners.

Japan

Kyoko Okamoto

Renesas Electronics Corporation

+ 81-3-6773-3001

[email protected]

KEYWORDS: Japan Asia Pacific

INDUSTRY KEYWORDS: Electronic Design Automation Semiconductor Environment Technology Software Internet Hardware

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Sustainability at Renesas (Graphic: Business Wire)
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Georgia Capital PLC 3Q20 and 9M20 Results

Georgia Capital PLC 3Q20 and 9M20 Results

TBILISI, Georgia–(BUSINESS WIRE)–
Georgia Capital PLC (“the Group”) has published today its third quarter and first nine months 2020 financial results.

KEY POINTS

  • NAV per share up 19.5% in 3Q20

    • The first time valuation of GHG as a wholly owned private company, performed by an independent valuation company, contributed growth of 36% in NAV per share
    • NAV per share was negatively impacted by valuation of our listed asset and FX loss on GCAP net debt
  • Solid 3Q20 results across our portfolio, with aggregated revenues growing 4.7% y-o-y in 3Q20 (up 6.9% y-o-y in 9M20)
  • Outstanding growth in aggregated net operating cash flow generation, up 125.1% in 3Q20 and up 106.2% in 9M20
  • GEL 10m dividends collected from private businesses in 3Q20 (Water Utility – GEL 5m; P&C Insurance – GEL 5m)
  • Aggregated cash balances of portfolio companies almost doubled in 9M20 to GEL 361m at 30-Sep-20 (GEL 282m at 30-Jun-20 and GEL 183m at 31-Dec-19)
  • GCAP liquidity remained high at GEL 267m, down only 4.6% in 3Q20 notwithstanding US$ 9m coupon payment

The results announcement together with the supplementary financial information (Excel file) is available on the Group’s website at https://georgiacapital.ge/ir/financial-results. Additionally, the members of Georgia Capital management team will host a virtual Investor Day today for analysts and investors. An investor/analyst webinar, organised by the Group, will be held today, at 11:00 UK / 12:00 CET / 6:00 U.S Eastern Time. Please register for the webinar at Registration link.

Management Commentary

“Against the challenging economic backdrop created by COVID-19, Georgia Capital’s performance during the third quarter of 2020 has been robust. This performance reflects the high level of resilience of our private portfolio companies and continued delivery on our strategic priorities.”

This announcement contains forward-looking statements, including, but not limited to, statements concerning expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position and future operations and development. Although Georgia Capital PLC believes that the expectations and opinions reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations and opinions will prove to have been correct.

Irakli Gilauri

Chairman and Chief Executive

[email protected]

Giorgi Alpaidze

Chief Financial Officer
+995 322 005 000

[email protected]

Nino Rekhviashvili

Head of Investor Relations

+995 322 005 045

[email protected]

KEYWORDS: Georgia United States United Kingdom North America Asia Pacific Europe

INDUSTRY KEYWORDS: Professional Services Finance

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XPeng Reports Third Quarter 2020 Unaudited Financial Results

XPeng Reports Third Quarter 2020 Unaudited Financial Results

GUANGZHOU, China–(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 third quarter ended September 30, 2020.

Third Quarter 2020 Operational Highlights

  • Deliveries of vehicles reached 8,578, representing an increase of 265.8% from 2,345 in the third quarter of 2019 and an increase of 165.7% from 3,228 in the second quarter of 2020.
  • Deliveries of the P71reached 6,210, compared with 325 in the second quarter of 2020.
  • Among the total P7s delivered for the quarter, 98% can support XPILOT 2.5 or XPILOT 3.0.
  • As ofSeptember 30, 2020,XPeng’s physical sales and service network consisted of atotal of 116 stores and 50 service centers, covering 58 cities.
  • As of September 30, 2020, Xpeng-branded super charging stations expanded to 135, covering 50 cities.

1 XPeng started mass delivery of the P7 in late June 2020.

Third Quarter 2020 Financial Highlights

  • Total revenues were RMB1,990.1 million (US$293.1 million) for the third quarter of 2020, representing an increase of 342.5% from RMB449.7 million for the same period of 2019 and an increase of 236.9% from RMB590.8 million for the second quarter of 2020.
  • Revenues from vehicle sales were RMB1,898.0 million (US$279.6 million) for the third quarter of 2020, representing an increase of 376.0% from RMB398.8 million for the same period of 2019, and an increase of 250.8% from RMB541.1 million for the second quarter of 2020.
  • Gross margin was 4.6% for the third quarter of 2020, compared with negative 10.1% for the same period of 2019 and negative 2.7% for the second quarter of 2020.
  • Vehicle margin, which is gross profit or gross loss of vehicle sales as a percentage of revenues from vehicle sales, was 3.2% for the third quarter of 2020, compared to negative 10.8% for the same period of 2019 and negative 5.6% for the second quarter of 2020.
  • Net loss was RMB1,148.8 million (US$169.2 million) for the third quarter of 2020, compared with RMB776.3 million for the same period of 2019 and RMB146.0 million for the second quarter of 2020. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB864.9 million (US$127.4 million) in the third quarter of 2020, compared with RMB750.8 million for the same period of 2019 and RMB769.5 million for the second quarter of 2020.
  • Net loss attributable to ordinary shareholders of XPeng Inc. was RMB2,025.8 million (US$298.4 million) for the third quarter of 2020, compared with RMB982.6 million for the same period of 2019 and RMB1,141.5 million in the second quarter of 2020. Fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value were non-cash events and will no longer recur after the listing of the Company on the New York Stock Exchange on August 27, 2020. Excluding 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, non-GAAP net loss attributable to ordinary shareholders of XPeng Inc. was RMB864.9 million (US$127.4 million) for the third quarter of 2020, compared with RMB750.8 million for the same period of 2019 and RMB769.5 million for the second quarter of 2020.
  • Basic and diluted net loss per American depositary share (ADS)were both RMB5.07 (US$0.75) for the third quarter of 2020. Non-GAAP basic and diluted net loss per ADSwere both RMB2.16 (US$0.32) for the third quarter of 2020. Each ADS represents two Class A ordinary shares.
  • Cash and cash equivalents, restricted cash and short-term investments were RMB19,998.4 million (US$2,945.4 million) as of September 30, 2020.

“In our first quarter as a public company we achieved strong operating and financial results, highlighted by the rapid growth in deliveries of our P7 Smart EV,” said Mr. He Xiaopeng, Chairman and CEO of XPeng.

“Our commitment to innovation through end-to-end in-house R&D and data-driven capabilities is the cornerstone of our business. This will not only keep XPeng at the forefront of the technologies of Smart EV but also position us well in capturing the significant growth potential in the Smart EV industry. Looking ahead, XPeng will continue to capitalize on its core strengths in technology, while heightening sales and marketing efforts, further enhancing manufacturing capability, and developing our global strategy,” Mr. He concluded.

Following its official launch in April this year, P7 deliveries helped to more than triple the total Smart EV delivery number in the third quarter, fueling a 342.5% increase in total revenues, on a year-over-year basis.

“The robust results we achieved in the third quarter, from delivery numbers, production ramp-up, and advancement in R&D, to expansion plans for the new factory and overseas business, reflect the strong market appeal of our products, the resonance of our strategy, and our ability to adeptly execute our operational plan,” said Dr. Brian Gu, Vice Chairman and President of XPeng. “Achieving our first positive gross profit also underscores our growth and our ability to realize economies of scale.”

Closing Initial Public Offering (“IPO”)

The Company closed its initial public offering of 114,693,333 American depositary shares (“ADSs”), each representing two Class A ordinary shares, on August 31, 2020. At a price to the public of US$15.00 per ADS, the total offering size was over US$1.72 billion. The number of ADSs issued at closing included the exercise in full of the underwriters’ option to purchase 14,959,999 additional ADSs to cover over-allotments.

Recent Developments

Deliveries in October 2020

Total Smart EV deliveries reached 3,040 units in October 2020, representing a 229.0% increase year-over-year. The deliveries consisted of 2,104 P7s, XPeng’s smart sports sedan, and 936 G3s, XPeng’s compact smart SUV. As of October 31, 2020, a cumulative total of 8,639 P7s were delivered.

New Smart EV Manufacturing Base

On September 28, 2020, the Company announced the cooperation agreement (“Cooperation Agreement”) with Guangzhou GET Investment Holdings Co., Ltd, a wholly owned investment company of Guangzhou Economic and Technological Development Zone (“GETDZ”), for developing and building a new Smart EV manufacturing base (“Smart EV Manufacturing Base”) for XPeng in Guangzhou. Pursuant to the cooperation agreement, Guangzhou GET Investment will invest RMB4 billion to support the development and construction of the Smart EV Manufacturing Base in the GETDZ.

The Smart EV Manufacturing Base is expected to commence production by December 2022 and will provide a comprehensive range of facilities for R&D, manufacturing, vehicle testing, sales and other smart mobility functions.

The Cooperation Agreement marks another milestone in XPeng’s strategy to expand its manufacturing capabilities, and bolsters the Company’s leadership position in the Smart EV market. In addition to its wholly owned plant in Zhaoqing, Guangdong province, which has an annual production capacity of 100,000 units, XPeng’s new Smart EV Manufacturing Base in Guangzhou will significantly expand the Company’s production capacity and accelerate XPeng’s momentum to achieve its goals in innovation, technological advancement and growth.

XPeng 2020 Tech Day

On October 24, 2020, XPeng held its second annual Tech Day where it showcased its differentiated end-to-end R&D capabilities, featuring an array of cutting-edge autonomous driving and in-car smart technologies. These innovative features include Navigation Guided Pilot (NGP) for highways and memory auto parking for carparks, both are features of XPILOT 3.0, our upcoming advanced autonomous driving system. In conjunction with this event, XPeng also launched another OTA upgrade to its Xmart OS operating system, which features a prominent in-car voice system that is able to engage in continuous driver-vehicle dialogues.

Third Quarter 2020 Unaudited Financial Results

Total revenues were RMB1,990.1 million (US$293.1 million) for the third quarter of 2020, representing an increase of 342.5% from RMB449.7 million for the same period of 2019 and an increase of 236.9% from RMB590.8 million for the second quarter of 2020.

Revenues from vehicle sales were RMB1,898.0 million (US$279.6 million) for the third quarter of 2020, representing an increase of 376.0% from RMB398.8 million for the same period of 2019 and an increase of 250.8% from RMB541.1 million for the second quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly due to the acceleration in deliveries of the P7 since we began its mass delivery in late June this year.

Revenues from services and others were RMB92.1 million (US$13.6 million) for the third quarter of 2020, representing an increase of 80.8% from RMB50.9 million for the same period of 2019 and an increase of 85.4% from RMB49.7 million for the second quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly attributed to the increased revenue recognized from the after-sales services which was associated with the increase in the accumulated number of vehicles we delivered.

Cost of sales was RMB1,898.6 million (US$279.6 million) for the third quarter of 2020, representing an increase of 283.5% from RMB495.0 million for the same period of 2019, and an increase of 212.8% from RMB607.0 million for the second quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly due to the increase in the number of vehicles delivered as described above.

Gross margin was 4.6% for the third quarter of 2020, compared to negative 10.1% and negative 2.7% for the third quarter of 2019 and the second quarter of 2020, respectively.

Vehicle margin was 3.2% for the third quarter of 2020, compared to negative 10.8% for the same period of 2019 and negative 5.6% for the second quarter of 2020, primarily due to better product mix, decrease in material costs and improvement of manufacturing efficiency.

Research and development expenseswere RMB635.4 million (US$93.6 million) for the third quarter of 2020, representing an increase of 46.1% from RMB435.0 million for the same period of 2019 and an increase of 98.7% from RMB319.8 million for the second quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly due to a significant amount of share-based compensation expenses recognized related to the share-based awards granted to the Company’s employees with a performance condition of an IPO. Excluding the share-based compensation expenses, (i) research and development expenses decreased year-over-year primarily because the Company incurred significant amounts of expenses relating to the development of the P7 in the same period of 2019, and (ii) research and development expenses increased quarter-over-quarter mainly due to the increase in design and development expenses relating to the development of the new model to be launched next year.

Selling, general and administrative expenses were RMB1,203.8 million (US$177.3 million) for the third quarter of 2020, representing an increase of 320.8% from RMB286.0 million for the same period of 2019 and an increase of 152.3% from RMB477.1 million for the second quarter of 2020. The year-over-year and the quarter-over-quarter increases were mainly due to a significant amount of share-based compensation expenses recognized for the reason mentioned above. Excluding the share-based compensation expenses, the increases mainly resulted from the higher marketing, promotional and advertising expenses to support new vehicle sales.

Loss from operations was RMB1,744.2 million (US$256.9 million) for the third quarter of 2020, compared with RMB761.5 million for the same period of 2019 and RMB779.1 million for the second quarter of 2020.

Non-GAAP loss from operations, which excludes share-based compensation expenses, was RMB822.6 million (US$121.2 million) in the third quarter, compared with RMB761.4 million for the same period of 2019 and RMB779.1 million for the second quarter of 2020.

Net loss was RMB1,148.8 million (US$169.2 million) for the third quarter of 2020, compared with RMB776.3 million for the same period of 2019 and RMB146.0 million for the second 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 RMB864.9 million (US$127.4 million) for the third quarter of 2020, compared with RMB750.8 million for the same period of 2019 and RMB769.5 million for the second quarter of 2020.

Net loss attributable to ordinary shareholders of XPeng Inc. was RMB2,025.8 million (US$298.4 million) for the third quarter of 2020, compared with RMB982.6 million for the same period of 2019 and RMB1,141.5 million in the second 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 RMB864.9 million (US$127.4 million) for the third quarter of 2020, compared with RMB750.8 million for the same period of 2019 and RMB769.5 million for the second quarter of 2020.

Basic and diluted net loss per ADSwere both RMB5.07 (US$0.75) for the third quarter of 2020, compared to RMB5.62 for the third quarter of 2019 and RMB6.29 for the second quarter of 2020.

Non-GAAP basic and diluted net loss per ADSwere both RMB2.16 (US$0.32) for the third quarter of 2020, compared to RMB4.30 for the third quarter of 2019 and RMB4.24 for the second quarter of 2020.

Balance Sheets

As of September 30, 2020, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB19,998.4 million (US$2,945.4 million), compared to RMB2,815.6 million as of December 31, 2019. The increase was primarily due to net proceeds received from the Company’s IPO in August 2020 and Series C+ round financing.

Business Outlook

For the fourth quarter of 2020, the Company expects:

  • Deliveries of vehicles to be approximately 10,000 vehicles, representing a year-over-year increase of approximately 210.8%.
  • Total revenues to be approximately RMB2,200 million, representing a year-over-year increase of approximately 243.7%.

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 November 12, 2020 (9:00 PM Beijing/Hong Kong time on November 12, 2020).

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

 

 

United States:

 

+1-833-350-1333

 

 

United Kingdom

 

+44-0203-547-8612

 

 

International:

 

+1-236-389-2427

 

 

Hong Kong, China:

 

+852-3012-6671

 

 

Mainland China:

 

400-820-9391

 

 

Conference ID:

 

7269200

Participants should dial-in at least 5 minutes before the scheduled start time to be connected to the call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.xiaopeng.com.

A replay of the conference call will be accessible approximately two hours after the conclusion of the call until November 19, 2020, by dialing the following telephone numbers:

United States:

+1-800-585-8367

International:

+1-416-621-4642

Replay Access Code:

7269200

About XPeng Inc.

XPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley, and San Diego in the U.S. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss per weighted average number of ordinary shares and non-GAAP basic loss per ADS, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and/or accretion on preferred shares to redemption value, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

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 RMB6.7896 to US$1.00, the exchange rate on September 30, 2020 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.

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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

 

 

As of

 

 

December 31, 2019

 

September 30, 2020

 

September 30, 2020

 

 

(audited)

 

(unaudited)

 

(unaudited)

 

 

RMB

 

RMB

 

USD

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

1,946,931

 

12,221,210

 

1,799,990

Restricted cash

 

460,812

 

2,008,811

 

295,866

Short-term investments

 

407,844

 

5,768,347

 

849,586

Accounts receivable, net

 

539,199

 

893,567

 

131,608

Current portion of finance lease

receivables, net

 

45,836

 

61,649

 

9,080

Inventory

 

454,116

 

860,919

 

126,800

Amounts due from related parties

 

22,605

 

8,441

 

1,243

Prepayments and other current assets

 

1,083,307

 

1,438,787

 

211,910

Total current assets

 

4,960,650

 

23,261,731

 

3,426,083

 

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

 

Property, plant and equipment, net

 

3,229,952

 

3,107,556

 

457,694

Right-of-use assets

 

440,097

 

402,641

 

59,303

Intangible assets, net

 

117,932

 

607,340

 

89,452

Land use rights, net

 

255,257

 

251,265

 

37,007

Finance lease receivables, net

 

109,965

 

104,154

 

15,340

Other non-current assets

 

137,512

 

60,905

 

8,970

Long-term investments

 

–

 

1,000

 

147

Total non-current assets

 

4,290,715

 

4,534,861

 

667,913

Total assets

 

9,251,365

 

27,796,592

 

4,093,996

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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

 

 

As of

 

 

December 31, 2019

 

September 30, 2020

 

September 30, 2020

 

 

(audited)

 

(unaudited)

 

(unaudited)

 

 

RMB

 

RMB

 

USD

Liabilities

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Short-term borrowings

 

419,950

 

227,900

 

33,566

Accounts and notes payable

 

953,946

 

3,491,965

 

514,311

Amount due to a related party

 

678

 

8,301

 

1,223

Current portion of lease liabilities

 

90,740

 

100,174

 

14,754

Current portion of deferred revenue

 

16,382

 

72,034

 

10,609

Current portion of long-term

borrowings

 

60,000

 

52,500

 

7,732

Accruals and other liabilities

 

1,755,995

 

1,979,582

 

291,562

Total current liabilities

 

3,297,691

 

5,932,456

 

873,757

Non-current liabilities

 

 

 

 

 

 

Long-term borrowings

 

1,690,000

 

1,667,490

 

245,595

Lease liabilities

 

361,404

 

309,065

 

45,520

Deferred revenue

 

69,116

 

85,157

 

12,542

Other non-current liabilities

 

73,015

 

56,844

 

8,372

Derivative liabilities

 

897,091

 

17,570

 

2,588

Total non-current liabilities

 

3,090,626

 

2,136,126

 

314,617

Total liabilities

 

6,388,317

 

8,068,582

 

1,188,374

 

 

 

 

 

 

 

Mezzanine Equity

 

 

 

 

 

 

Convertible redeemable preferred

shares

 

9,693,478

 

–

 

–

Total mezzanine equity

 

9,693,478

 

–

 

–

 

 

 

 

 

 

 

Shareholder’s equity

 

 

 

 

 

 

Class A Ordinary shares

 

2

 

56

 

8

Class B Ordinary shares

 

19

 

26

 

4

Class C Ordinary shares

–

 

12

 

2

Additional paid in capital

–

 

30,427,485

 

4,481,484

Accumulated other comprehensive

loss

(5,948)

 

(164,567)

 

(24,238)

Accumulated deficit

(6,824,503)

 

(10,535,002)

 

(1,551,638)

Total shareholders’ equity

 

(6,830,430)

 

19,728,010

 

2,905,622

Noncontrolling interests

 

-　

 

–

 

–

Total shareholders’ equity

 

(6,830,430)

 

19,728,010

 

2,905,622

Total liabilities, mezzanine equity

and shareholders’ equity

 

9,251,365

 

27,796,592

 

4,093,996

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

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

 

 

Three Months Ended

 

 

September 30, 2019

 

June 30, 2020

 

September 30, 2020

 

September 30, 2020

 

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

 

RMB

 

RMB

 

RMB

 

USD

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

 

 

-Vehicle sales

 

398,775

 

541,118

 

1,898,041

 

279,551

 

-Services and others

 

50,942

 

49,663

 

92,078

 

13,562

 

Total revenues

 

449,717

 

590,781

 

1,990,119

 

293,113

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

 

 

 

 

 

 

 

-Vehicle sales

 

(441,728)

 

(571,400)

 

(1,836,756)

 

(270,525)

 

-Services and others

 

(53,293)

 

(35,624)

 

(61,822)

 

(9,105)

 

Total cost of sales

 

(495,021)

 

(607,024)

 

(1,898,578)

 

(279,630)

 

 

 

 

 

 

 

 

 

 

 

Gross loss

 

(45,304)

 

(16,243)

 

91,541

 

13,483

 

Operating expenses

 

 

 

 

 

 

 

 

 

Research and development

 

(435,002)

 

(319,796)

 

(635,373)

 

(93,580)

 

Selling, general and administrative

expenses

 

(286,049)

 

(477,149)

 

(1,203,792)

 

(177,299)

 

Total operating expenses

 

(721,051)

 

(796,945)

 

(1,839,165)

 

(270,879)

 

Other income

 

4,808

 

34,096

 

3,440

 

507

 

Loss from operations

 

(761,547)

 

(779,092)

 

(1,744,184)

 

(256,889)

 

Interest income

 

22,575

 

10,295

 

23,216

 

3,419

 

Interest expense

 

(10,468)

 

(7,676)

 

(3,926)

 

(578)

 

Fair value (loss)/gain on derivative

liabilities

 

(25,364)

 

623,410

 

620,209

 

91,347

 

Other non-operating (loss)/income, net

 

(1,472)

 

7,021

 

(44,070)

 

(6,491)

 

Loss before income taxes

 

(776,276)

 

(146,042)

 

(1,148,755)

 

(169,192)

 

Income tax expenses

 

–

 

–

 

(6)

 

(1)

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

(776,276)

 

(146,042)

 

(1,148,761)

 

(169,193)

 

Accretion on Preferred Shares to redemption value

 

(206,328)

 

(995,444)

 

(877,007)

 

(129,169)

 

Net loss attributable to ordinary shareholders of XPeng Inc.

 

(982,604)

 

(1,141,486)

 

(2,025,768)

 

(298,362)

 

Net loss

 

(776,276)

 

(146,042)

 

(1,148,761)

 

(169,193)

 

Other comprehensive loss

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment, net of nil tax

 

30,621

 

(3,423)

 

(143,220)

 

(21,094)

 

Total other comprehensive loss

 

30,621

 

(3,423)

 

(143,220)

 

(21,094)

 

Total comprehensive loss

 

(745,655)

　

(149,465)

　

(1,291,981)

 

(190,287)

 

 

 

 

 

 

 

 

 

 

 

Accretion on Preferred Shares to redemption value

 

(206,328)

　

(995,444)

　

(877,007)

 

(129,169)

 

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

 

(951,983)

　

(1,144,909)

　

(2,168,988)

 

(319,456)

 

XPENG INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

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

 

 

Three Months Ended

 

 

September 30, 2019

 

June 30, 2020

 

September 30, 2020

 

September 30, 2020

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

RMB

 

RMB

 

RMB

 

USD

Weighted average number of ordinary shares used in computing net loss per share

 

 

 

 

 

 

 

 

Basic and diluted

 

349,414,050

 

362,747,375

 

799,364,696

 

799,364,696

 

 

 

 

 

 

 

 

 

Net loss per share attributable to ordinary shareholders

 

 

 

 

 

 

 

 

Basic and diluted

 

(2.81)

 

(3.15)

 

(2.53)

 

(0.37)

 

 

 

 

 

 

 

 

 

Weighted average number of ADS used in computing net loss per ADS

 

 

 

 

 

 

 

 

Basic and diluted

 

174,707,025

 

181,373,688

 

399,682,348

 

399,682,348

 

 

 

 

 

 

 

 

 

Net loss per ADS attributable to ordinary shareholders

 

 

 

 

 

 

 

 

Basic and diluted

 

(5.62)

 

(6.29)

 

(5.07)

 

(0.75)

XPENG INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

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

 

 

Three Months Ended

 

 

September 30, 2019

 

June 30, 2020

 

September 30, 2020

 

September 30, 2020

 

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

(unaudited)

 

 

RMB

 

RMB

 

RMB

 

USD

Loss from operations

 

(761,547)

 

(779,092)

 

(1,744,184)

 

(256,889)

Share-based compensation expenses

 

130

 

–

 

921,610

 

135,738

Non-GAAP loss from operations

 

(761,417)

 

(779,092)

 

(822,574)

 

(121,151)

Net loss

 

(776,276)

 

(146,042)

 

(1,148,761)

 

(169,193)

Fair value change on derivative

liabilities

 

25,364

 

(623,410)

 

(637,779)

 

(93,935)

Share-based compensation expenses

 

130

 

–

 

921,610

 

135,738

Non-GAAP net (loss)/Gain

 

(750,782)

 

(769,452)

 

(864,930)

 

(127,390)

 

 

 

 

 

 

 

 

 

Net loss attributable to ordinary shareholders

 

(982,604)

 

(1,141,486)

 

(2,025,768)

 

(298,362)

Fair value change on derivative

liabilities

 

25,364

 

(623,410)

 

(637,779)

 

(93,935)

Share-based compensation

expenses

 

130

 

–

 

921,610

 

135,738

Accretion on Preferred Shares to redemption value

 

206,328

 

995,444

 

877,007

 

129,169

Non-GAAP net loss attributable to ordinary shareholders of XPeng Inc.

 

(750,782)

 

(769,452)

 

(864,930)

 

(127,390)

 
Weighted average number of ordinary shares used in calculating Non-GAAP net loss per share

 

 

 

 

 

 

 

 

Basic and diluted

 

349,414,050

 

362,747,375

 

799,364,696

 

799,364,696

 
Non-GAAP net loss per ordinary share

 

 

 

 

 

 

 

 

Basic and diluted

 

(2.15)

 

(2.12)

 

(1.08)

 

(0.16)

 
Weighted average number of ADS used in calculating Non-GAAP net loss per ADS
Basic and diluted

174,707,025

181,373,688

399,682,348

399,682,348

Non-GAAP net loss per ADS
Basic and diluted

(4.30)

(4.24)

(2.16)

(0.32)

 

For Investor Enquiries

IR Department

XPeng Inc.

E-mail: [email protected]

Jenny Cai

The Piacente Group

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

E-mail: [email protected]

For Media Enquiries

Marie Cheung

XPeng Inc.

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

E-mail: [email protected]

KEYWORDS: China Asia Pacific

INDUSTRY KEYWORDS: General Automotive Aftermarket Automotive Alternative Vehicles/Fuels

MEDIA:

Posted on

TELUS launches fresh new TELUS Agriculture business to digitally transform the global food system

Global-leading innovators across the world have been brought together under one business to optimize food production and contribute to a better yield of food supply to meet the ever-growing requirements of our hungry planet

TELUS Agriculture acquires AFS Technologies, a global leader in sales and distribution solutions to the consumer goods market; and Agrian, a unified management platform for precision, agronomy, sustainability, analytics, and compliance

VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) — Today, TELUS announced the launch of TELUS Agriculture, a new business unit dedicated to providing innovative solutions to support the agriculture industry with connected technology. TELUS Agriculture optimizes the food value chain by leveraging data in new ways to increase efficiency, production, and yields, delivering better food outcomes for businesses and the end consumer. Connecting each piece of the agriculture value chain empowers farmers and ranchers, the agri-business industry, and agri-food, consumer goods and retail companies to leverage advanced data systems and artificial intelligence to streamline operations, improve food traceability, and provide consumers with fresher and healthier food. TELUS Agriculture currently supports more than 100 million acres of agricultural land, backed by a team of more than 1,200 experts across Canada, the USA, Mexico, Brazil, the United Kingdom, Slovakia, Armenia, Germany, China, and Australia.

“The launch of TELUS Agriculture reflects TELUS’ unwavering commitment to our social purpose to leverage our world-leading technology to create remarkable human and social outcomes as, together, we help to protect and improve the global food system,” said Darren Entwistle, President and CEO of TELUS. “By means of our technology innovation, artificial intelligence and human compassion, we will help farmers and ranchers produce food for the world’s ever-expanding population more efficiently, safely and in a more environmentally friendly manner. Our efforts to optimize food production will contribute to a better yield of food supply to meet the ever-growing requirements of our hungry planet. From farm to fork, by digitizing the entire value chain and linking these technologies together for the first time, we will facilitate a secure exchange of information to allow farmers and ranchers, agri-business organizations, the agri-food industry and the consumer to make smarter decisions. Importantly, we are striving to provide innovative solutions to advance the agriculture sector on a worldwide basis, whilst positioning Canada as a preferred global supplier of safe, sustainable food. TELUS Agriculture is the latest addition to our unique portfolio of compelling growth assets, which includes TELUS International and TELUS Health and will leverage our team’s expertise in technology and digital transformation. TELUS Agriculture will make a significant contribution to this fast-growing portfolio, driving strong financial and operating performance as well as material shareholder value creation. Moreover, our Agriculture strategy also represents another significant investment in the communities where we live, work and serve, supporting TELUS’ world leadership in social capitalism.”

Over the course of the last year, TELUS has completed several key acquisitions, assembling a suite of assets that is unmatched in the agriculture industry. Together under TELUS Agriculture, our team now has the expertise, experience, and relationships to connect every participant in the agriculture value chain, from seed manufacturers and farmers through to grocery stores and restaurants.

“TELUS Agriculture is tackling agriculture and agri-food’s complex data management challenges by linking systems together in new ways. Connecting the value chain and building solutions that make it convenient and valuable to shift to digital will help our customers drive industry-wide profitability while delivering better, healthier products to the consumer,” said Francois Gratton, EVP and Group President TELUS and Chair TELUS Health and TELUS Agriculture.

“The agriculture industry has long waited for a solution that not only optimizes the food supply chain, but provides benefit to each contributor along the way, and we are confident that TELUS Agriculture can provide these solutions. While we are humbled to be in a position to make such an impact, we are more driven than ever to deliver on that promise for the industry at-large,” said Thad Armbruster, CEO, TKXS.

In addition, today, TELUS Agriculture is proud to announce our most recent cornerstone acquisitions, global sales and distribution solutions powerhouse AFS Technologies and SaaS farm management platform Agrian. Tampa, Florida-based AFS Technologies is a global leader in delivering value to the consumer goods industry with purpose-built integrated business planning, trade promotion management, and supply-chain management technology that drives efficiency, improves agility, and increases profitability. Fresno, California-based Agrian combines the industry’s deepest label resource with a holistic platform that manages precision agriculture, agronomy, sustainability, analytics, and compliance with striking ease and effectiveness. With the addition of AFS and Agrian, TELUS Agriculture is now a global leader with customers in more than 50 countries.

“2020 has been a year of uncertainty for most, and that holds especially true for the consumer goods and agri-food industry. The global pandemic has not only drastically impacted the supply chain, but highlighted the urgency to tackle existing challenges,” said Richard Nicholas CEO, AFS. “With TELUS Agriculture, we are helping companies achieve improved continuity of supply, protect their brand, and drive efficiency and profitability, all while delivering better, healthier products in a sustainable way to the consumer.”

By bringing together innovative, market-leading companies at each stage of the value chain, TELUS Agriculture has built incredible scale and scope in the industry to be uniquely positioned to transform collaboration across the global agriculture industry as an independent player. This includes a billion acres of historical acre data and 170 million acres of real-time data across the most diverse crop markets in the world that can be leveraged to build industry leading AI and machine learning-based insights. At launch, the companies acquired include:

Acquisitions


  • AFS Technologies
     – Florida, USA – Comprised of AFS, Exceedra and Ignition, a global leader in supply chain management, and sales and distribution

  • AGIntegrated
     – Pennsylvania, USA – Seamless API integration

  • Agrian
     – California, USA – Unified management platform for precision, agronomy, sustainability, analytics, and compliance

  • Decisive Farming
     – Alberta, Canada – Precision agronomy and farm management expertise

  • Farm At Hand
     – British Columbia, Canada – Simplified farm management software

  • Muddy Boots
     – Ross-on-Wye, United Kingdom – Farm-to-food traceability and supply chain management

  • TKXS
     – North Carolina, USA – Custom data and program management

  • Feedlot Health Management Solutions
    * – Alberta, Canada – Critical insights and data-based knowledge

Partnerships


  • Hummingbird
     – London, United Kingdom – Advanced imagery analytics

For full details about TELUS Agriculture, please visit telus.com/agriculture.

*TELUS has entered into an agreement to acquire Feedlot Health Management Solutions. Transaction closing is subject to satisfaction of certain conditions precedent.

About TELUS

TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with $15.3 billion in annual revenue and 15.7 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada’s largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.

Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than $700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.

For more information about TELUS, please visit telus.com, follow us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.

Media Contact

Doug Self
[email protected]
+1-403-616-8741