Movement Alert|XPeng Group-W Intraday Decline 3.34%, Auto Sector Broadly Weakens as Goldman Sachs Cuts China Vehicle Sales Forecast

Market Focus10:03

On June 26, XPeng Group-W declined 3.34% in regular trading, trading at 46.22 HKD/share, with turnover of HKD 118 million, extending its recent streak of consecutive losses.

On the news front, Goldman Sachs noted that the earnings downgrade trend for China's auto industry is accelerating, cutting its domestic passenger vehicle sales forecast by 5% and projecting a 9% year-over-year decline in domestic retail passenger vehicle sales. Industry data showed that domestic auto sales fell over 19.5% year-over-year in the first five months, indicating continued deterioration in sector sentiment.

At the company level, XPeng reported a Q1 net loss of RMB 1.784 billion, with revenue declining 17.6% year-over-year and vehicle deliveries dropping 33.3% year-over-year, undermining market confidence in its near-term profitability recovery.

Within the Automobile Manufacturers sector, the overall sector declined broadly. Among individual stocks, BYD Company down 4.6%, Li Auto-W down 2.7%, Geely Auto down 1.68%, Leapmotor down 5.22%, NIO-SW down 4.56%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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