XPENG-W Shares Surge More Than 3% in Afternoon Trading as CLSA Reiterates "Outperform" Rating

Deep News05-22

XPENG-W (09868) saw its intraday gains exceed 4%. At the time of writing, the stock was up 3.22%, trading at HK$62.55 with a turnover of HK$957 million.

On May 20, the XPeng GX officially launched. This model is China's first pre-installed, mass-produced Robotaxi prototype vehicle, built to L4 autonomous driving standards. Regarding pricing, the limited-time top-tier price for the XPeng GX is RMB 349,800, which is RMB 50,000 lower than the pre-sale price. According to the company's official social media account, the GX received 24,863 confirmed orders within 12 hours of its launch. Citigroup estimates that the model could achieve monthly sales of 8,000 to 9,000 units at maturity.

CLSA believes the GX should optimize XPeng's product mix, support profit margins, and contribute to the bank's forecast of approximately 453,000 unit sales for the company in 2026. The firm reiterated its "Outperform" rating with an H-share target price of HK$80.

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