Shanghai (ZXZC)- The New York-listed Xpeng Motors announced its gross margin for the fourth quarter of 2020 (Q4) stood at 7.4%, versus negative 6.6% for the prior-year period and 4.6% for the third quarter last year.

The company's Q4 revenues zoomed up 345.5% year on year to 2,851.4 million yuan ($437.0 million). During the same period, the revenues from vehicle sales were 2,735.4 million yuan ($419.2 million), soaring 375.7% from the year-ago period.

The startup noted that it still faced a net loss of 787.4 million yuan ($120.7 million) for the Q4 2020. The Q4 net loss attributable to ordinary shareholders reached 787.4 million yuan ($120.7 million), compared with 1,354.6 million yuan for the same period of 2019 and 2,025.8 million yuan for the previous quarter.

For fiscal year of 2020, Xpeng Motors earned 5,844.3 million yuan ($895.7 million) in revenues, representing a year-over-year leap of 151.8%. The annual revenues from vehicle sales jumped 155.5% from a year earlier to 5,546.8 million yuan ($850.1 million).

The gross margin stood at 4.6% for the year of 2020, compared with negative 24% for the year of 2019.

The startup announced the annual net loss attributable to ordinary shareholders reached 4,889.7 million yuan ($749.4 million).

In addition, Xpeng Motors delivered 27,041 new vehicles (+112.5% YoY) throughout 2020, including 15,062 P7 smart EVs. The deliveries for the fourth quarter amounted to 12,964 vehicles, rising 302.9% year over year and 51.1% quarter over quarter.