On August 4, XPENG-W declined 3.02% in regular trading, trading at 47.86 HKD/share, with turnover of HKD 125 million. The stock continued its downward trajectory following weak July delivery data and persistent quality controversies.
On the news front, XPeng reported July deliveries of 38,027 vehicles, representing only approximately 4% year-over-year growth and a 5.23% month-over-month decline, significantly lagging the broader EV sector momentum. Additionally, XPeng initiated a recall of 33,473 X9 vehicles due to front air spring airtightness defects caused by manufacturing process fluctuations, while the Ministry of Industry and Information Technology conducted on-site product safety inspections at XPeng's Zhaoqing facility. Citi forecasts Q3 total deliveries of approximately 130,000 units, below market expectations of 150,000, citing slower-than-expected L03 production ramp-up and potential cannibalization of M03 sales. The bank maintains a Buy rating with a target price of HKD 87.7.
Within the Automobile Manufacturers sector, GEELY AUTO down 1.89%, BYD COMPANY down 0.26%, LI AUTO-W down 1.54%, SERES down 3.17%, LEAPMOTOR down 0.74%.
(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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