小鹏集团-W2025年度报告

（於開曼群島註冊成立以不同投票權控制的有限公司） 紐交所代號: XPEV港交所代號: 9868 2025年度報告 235642126150155200220227230232234236339341 20251231 2025429,4452024190,068125.9%20251231721255202512313,1592,10820251231767.220241231408.787.7%20251231683.820241231358.390.8%2025123118.9%2024123114.3%2025123112.8%202412318.3%2025123111.42024123157.9202512314.62024123155.52025123111.42024123157.9202512314.62024123155.520251.206.1220250.603.06A20250.485.8720250.242.9320251231476.620241231419.6ii 2026123 2026120,0112026215,2562026327,415202633162,682 VLA 202632The FutureVLAVLA 1995 2015ADAS20233XNGP202311XNGP 201812 20253G6G92025 20254X9202520257G720258P7202511X920261P7+G6G92026G7P7+20263G6•20264MONA M032026 MONA M03 ()2,815CLTC510640P7 ()3,008CLTC702820P7+ ()3,000CLTC6157251,550 SUV G6 ()2,890CLTC6251,704G7 ()2,890CLTC6027021,704G9 ()2,998CLTC625725 MPV X9 ()3,160CLTC6507501,602 ADASOTA 20251231721255 2022480kWS4202512313,1592,654505S4S5222 2026331 202330,676.1202440,866.3202576,719.72023141,6012024190,0682025429,44520242025125.9%20231.5%202414.3%202518.9% ADASADAS P7 P7P720205202011P720213P720233P7P7i20243P7i P7 20258P7P7800VSiC5C G9 20229G9SUV202210 G9800V(SiC)400V 2025320261G920252026 G6G6 20236G6SUV20237 G6SEPA 2.0800VSiC(CIB) 2025320261G62025202620263G6 X9X9 20241X9MPV X9SEPA2.0800VSiCCIBX9X9XOS Tianji 20249X920254X92025 202511X9X9800VSiC5C MONA M03 20248MONAMONA M03MONA M0320248MONAM032,815CLTC502620MONA M03 20264MONA M032026 P7+P7+ 202411P7+5,0563,000P7+P7+ADAS 202612026P7+P7+2026P7+800VSiC5CCLTC1,550 G7G7 20257G7G7G7ADAS800VSiC5C 202612026G7G7G7CLTC1,704 ADAS ADASADAS 2021OTA(NGP)-VPAXPILOT 3.02022XNGPXNGP20233XNGP202311XNGP 202457ADAS20248202411P7+20251OTAADAS20263VLA XOS Tianji XOS TianjiXDock(SR)XOS Tianji20241XOS TianjiX9 202452020247NFC20251 (VCU)OTA LFP 20229G9800VSiC400VG92025X9 SEPA 2.0 20234SEPA 2.0SEPA 2.0 SEPA 2.01,8003,200SEPA 2.0(CIB) 20237SEPA 2.0G6 20251231721255 202012G3 20229480kW S4S4S5800V5C202512313,1592,654505S4S5222 20251542020,0002025114BPPulse42030,000 2025923Charge+ OTA 20234ADAS 2023726G9ADASB202312694,079,255A705.6 2024229B2024417ChinaMain(CMP)20262024722CMPMEB20251542020,0002025815 2023827Da Vinci Auto Co. LimitedAXiaoju Smart Auto Co. LimitedXiaoju Smart Auto Co. Limited2023111358,164,217A2024813SOP4,636,447AMONA M03A 2026331 2025 ADAS (i)(ii) 202320242025123113,55015,36419,88420251231 2025123119,499385 600,0002067440,000370,000220,000207020249,100 63,0002070117,00068,0002061 1,000,00020722021720263312025123158.0 1,100,000974,000 MONA M03P7P7+P7+G6G6G7G7G9X9X9 2023122024720247 2024630 201931520191226202011(i)(ii)(iii)(iv) 202496202411120242024202512152026212025 202011 2015622720157102720181210201911027 201716201771202072439 39 200973200991202292920221112001123 20154222016–20202016202020172018201620%20192020201640% 2016122920171150%2019202020%20182019 202042320202022 20202020202210%20%30%20020201231202112312020 201712262018112020123120204162021112022123120229182023123120236192024112025123130,0002026112027123115,000 2014714201592920151092015–2020202010202021–20352020201672520221102023720 2024202420262025620271020259242025–202720272800 2025614 20179272023629202381 1993222201812292012102220193220201123(OTA)OTAOTA202011OTAOTA20201231OTA2025225OTAOTA 201745201771 90302022329 2022415OTAOTA(i)(ii)(iii)3 2025225OTAOTAOTAOTA 199310312013 2021727202191(i)(ii)(iii)(iv)(v)524 20231117L3L4 (i)(ii)(iii)(iv) 2024726 200092520162620196 200920177 20002011 2006(i)(ii)(iii)(iv) 202420224720225150%202448 2013101 202111 20201112202111 5(i)(ii)(iii)(iv)(v)(vi)(vii)(viii)(ix) 200012282009827(i)(ii) (iii)(iv)(v)(vi) 201571 201611720176120251028(i)(ii)(iii) 202161020219 2021730202191(i)(ii) 2021712202191 20218202021111(i)(ii)(iii)(i)(ii)(iii)(iv)(v)(vi)(vii) (i)(ii)(iii)(iv) 20211228202221510010(i)(ii)(iii)(iv)(v)(vi)(vii) 2022772022912023222202361 102024322 2024924202511 19842020201020216120216115 1991202011502013130 1982201920022014 20178242017111 19942018200762920121228 2011712018122919992019 2008 20125959201320152 13 201531919191620166191616 201713(i)(ii)3 20191023282820231241,000 2025912(i)(ii)(iii) 10%50% 201437373737 201513373737 201222007337 2008112018122925%10%15%25% 10%(a)(b)10%5%2009220201823201841 20241225202611 20184420185117%11%20185116%10%20194116%10%20194113%9% 2006882006982009622 202176 20232172023331 33(i)(ii)(iii)(iv)3 20232242023331 AA AA ADAS AA 202321720233312020820201220217 2022 PCAOBHFCA A 2015201811G3SUV2022122026331MONA M03P7P7+P7+G6G6G7G7G9X9X9 ADASADAS 202330,676.1202440,866.3202576,719.72023141,6012024190,0682025429,445 ADAS ADASADASADASADASADAS20234G9 SUV202512L3L320261ADASADASADASADASADAS ADASADASADAS ADAS20231117202320232023125 ADAS202472620241231202541202512020252282025917L2ADASADAS (i)(ii) 20241202420241220255 ADAS2023202420255,276.66,456.79,490.020232024202517.2%15.8%12.4%ADASADAS ADAS XNGPXOS Tianji XOS Tianji 20248 20248 2