XPeng 3Q Net Loss Likely Widened on Weaker Deliveries, Margins -- Market Talk

Dow Jones2022-11-18

0335 GMT - XPeng's net loss likely widened in 3Q, due to a decline in electric-vehicle deliveries and narrower margins, CGS-CIMB analyst Ray Kwok says in a note. Revenue growth for the quarter is estimated at 17%, given deliveries of 29,600 units, which is the low end of company guidance, he says. Low production efficiency and higher R&D expenses for new model launches likely weighed on margins, Kwok says. CGS-CIMB lowers the H-share target price of XPeng to HK$79.62 from HK$148.4 while keeping an add rating, as it expects deliveries to improve in 2H next year thanks to a larger product portfolio. XPeng's H-shares are at HK$32.40. It is set to report 3Q results on Nov. 30.(clarence.leong@wsj.com)

(END) Dow Jones Newswires

November 17, 2022 22:35 ET (03:35 GMT)

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