Shulou(Shulou.com)11/24 Report--

CTOnews.com October 10 news, there is news today, Xiaopeng announced that the head of the procurement department suspended, a number of employees to cooperate with the investigation. It is said that the incident began with Xiaopeng's internal supply chain anti-corruption, involving a number of levels, as well as police intervention.

In response to the news that a number of employees cooperated with the investigation, Xiaopeng Automobile said in response to Caixin: the company's action is a normal act of fighting corruption and promoting integrity, and it will not be tolerated when corruption is found and corrected together. This incident involves a small area and does not affect business and production links.

According to the public information of CTOnews.com, Xiaopeng announced the adjustment of its supply chain business at the end of 2022 in order to improve the refinement of cost control and the compliance of the financial system. Xiaopeng merged the original supply chain Services Department, Marketing Services Purchasing Department and parts Purchasing Department into the Purchasing Department, while the new department was headed by Li Feng, vice president of Xiaopeng Automobile.

In fact, Xiaopeng management has repeatedly made it clear that it will make further efforts to strengthen cost control and improve operational efficiency. In addition, Xiaopeng hopes to improve its cash flow by reducing capital expenditure and increasing product sales.

For example, in August this year, Xiaopeng Motor said on a conference call in the second quarter of 2023: we are very confident that we will achieve the target of reducing overall costs by 25% by the end of 2024 and will exceed this target in a number of individual areas. these cost reduction measures will significantly improve the gross profit margin in 2024 while greatly improving the competitiveness of products.

According to Xiaopeng's latest financial report, Xiaopeng's revenue in the second quarter of 2023 was 5.06 billion yuan, down 31.9% from a year earlier and up 25.5% from a month earlier. Xiaopeng's auto sales revenue in the second quarter of 2023 was 4.42 billion yuan, down 36.2 percent from the same period in 2022 and 25.9 percent higher than the first quarter of 2023.

In addition, Xiaopeng's gross profit margin was minus 3.9% in the second quarter of 2023, compared with 10.9% in the same period in 2022 and 1.7% in the first quarter of 2023. Vehicle gross profit margin (that is, gross profit or loss as a percentage of car sales revenue) was negative 8.6% in the second quarter of 2023, compared with 9.1% in the same period in 2022 and minus 2.5% in the first quarter of 2023.

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