BUZZ-China's Xpeng slips after results, Citi sees risks ahead

Reuters11-20 11:31
BUZZ-China's Xpeng slips after results, Citi sees risks ahead

** Hong Kong shares of Chinese electric vehicle maker XPeng 9868.HK slip 4.5% to HK$49.6, on track for biggest one-day pct decline since Nov. 14

** Stock on course to snap two sessions of gains; fourth biggest pct loser in Hang Seng China Enterprises Index .HSCE which is down 0.1%

** U.S.-listed shares XPEV.N fell 3.8% on Tuesday

** Xpeng 9868.HK forecast fourth-quarter revenue above Wall Street estimates on Tuesday, as a refreshed product line-up and improving domestic market help the company see higher demand

** Co's revenue for the third quarter ended Sept. 30 was 10.10 bln yuan ($1.39 bln), beating estimates of 9.77 bln yuan

** Citi, with "neutral" rating, says Xpeng delivered a set of in-line consensus 3Q result and 4Q guidance but significant downside risks ahead, including pressure from declining average selling price and threat from model launches of key EV players

** Hang Seng Commerce & Industry Index .HSNC eases 0.3% and Hang Seng Index .HSI slips 0.2%

** Xpeng Hong Kong stock down 10% YTD

($1 = 7.2402 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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