Jinwu Financial News | According to Changjiang Securities Research Report, Xiaopeng Motor (09868) announced sales volume for November 2024. In November, the company delivered a total of 30,895 new cars, up 54.2% year on year and 29.2% month on month. From January to November 2024, the company delivered a total of 0.153 million new cars, an increase of 26.2% over the previous year. In November, the first 0.03 million vehicle was delivered in a single month, reaching a record high for 3 consecutive months, and the M03 delivered more than 10,000 in a single month.
According to the bank, the company continues to lead the way in intelligent driving. With channel changes and the strengthening of the marketing system, the company's sales volume is expected to increase steadily as the new vehicle cycle begins. MONAM03 and P7+ start the company's new car cycle. The effects of scale improvement, platform and technology cost reduction will be further reflected. The business model expansion combined with software profits continues to grow, and the company's future profits are highly flexible. The company's revenue in 2024 is estimated to be 41.5 billion yuan, corresponding to PS2.0X. Volkswagen Software's revenue reflects significant improvements in financial performance. The company is expected to enter an inflection point in the new car cycle and maintain a “buy” rating.
