XPeng Inc. Sponsored ADR (XPEV) Increases Despite Market Slip: Here's What You Need to Know
Xpeng Opens Its 1st Showroom in HK
Since sales began on May 17, Xpeng has received more than 500 orders in Hong Kong, with the first deliveries of the G6 set to begin in the third quarter. For details, please visit CnEVPost.
Beijing Offers Extra 20,000 EV Quotas in 1st Relaxation of Car Purchase Policy Since 2011
The 20,000 quotas are additional to the original 80,000 quotas and can only be used to purchase purely electric vehicles. For details, please visit CnEVPost.
Cui Dongshu: Purchasing enthusiasm is gradually released. In June, the retail penetration rate of electric vehicles reached 49%.
Cui Dongshu stated in an article that in the second quarter, the domestic retail penetration rate of electric vehicles increased by 13 percentage points year-on-year, reaching 49% in June.
Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).
CITIC Securities pointed out that as regulations for self-driving industry on both national and local levels gradually improve, each link in the industry chain is expected to accelerate technology research and development and product deployment, benefiting the intelligent automotive industry chain.
Express News | Shares of Chinese Stocks Are Trading Lower Amid Reports Suggesting the Biden Administration Is Considering Chip Sale Restrictions on China, Which Could Drive US-China Tensions
WiseStock Hong Kong Stock Analysis | Market sentiment is good due to Trump's words and actions, with expectations for acquisitions of innovative drugs.
Capital markets are no exception, quickly switching to Trump's victory mode. His every word and move affects the market's emotions.
Major bank rating: Bank of America Merrill Lynch lowered Xpeng's target price to HKD 45.6 and lowered sales forecasts for the next two years.
Bank of America Securities' research report suggests that Xpeng's sales volume will benefit from the launch of new models and the introduction of redesigned G6 and G9 models in the first half of the year, with some improvement starting from the second half of the year. Xpeng plans to launch the first model MO3 of its MONA series in August, and the P7+ model in the fourth quarter. These two models are expected to help Xpeng's monthly delivery volume increase from 0.1 million vehicles in June to 0.2 million vehicles at the end of this year. The bank pointed out that the company is expected to begin receiving technical service income from Volkswagen for its EEA platforms starting from the third quarter. The Bank estimated that Xpeng's delivery volume in the second quarter is about 0.03 million vehicles, an increase of 30% year-on-year, which is slightly lower than the bank's expected 0.031 million vehicles.
Bank of America Securities reiterated its "buy" rating on Xpeng-W(09868) and lowered its target price to HKD 45.6.
Bank of America Securities lowered its sales forecast for Xpeng-W (09868) for the next two years by 12% and 7%, respectively.
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XPeng Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 07/16/2024 32.2% B of A Securities $12.7 → $11.7 Maintains Buy 06/25/2024 -6.21% Citigroup $7.7 → $8.3
BofA Securities Maintains XPeng(XPEV.US) With Buy Rating, Cuts Target Price to $11.7
BofA Securities analyst Ming-Hsun Lee maintains $XPeng(XPEV.US)$ with a buy rating, and adjusts the target price from $12.7 to $11.7.According to TipRanks data, the analyst has a success rate of 25.8%
Some auto stocks rose against the market, Guangzhou Automobile Group (02238) rose by 1.79%. The car market in June increased steadily compared to the previous month, and new energy continued its high growth rate.
Some auto stocks rose against the trend, with Guangzhou Automobile Group (02238) up 1.79%, Geely Auto (00175) up 1.09%, Xpeng (09868) up 1.06%, Brilliance Chi (01114) up 1.04%, and Leapmotor (09863) follow the trend. Data released by the China Association of Automobile Manufacturers shows that the mainland passenger vehicle market recorded production and sales of 2.177 million and 2.15 million vehicles in June this year, up 6.2% and 6.7% respectively from the previous month, but down 1.9% and 2.3% respectively from the same period last year. A research report from Dongguan Securities pointed out that the auto market in June was in a positive trend.
Top Gap Ups and Downs on Monday: PDD, COIN, JD and More
Gaps can show signals that something important has happened to the fundamental or the psychology of traders that accompanies this market movement.
Statistics of capital trend for the Connect of China-HK Stock Connect(T+2) on July 16th.
Capital trend of ChiNext Stock Connect on July 16th.
Express News | PDD Holdings Down 3.3%, Baidu Down 6.3%
Express News | U.S.-Listed Shares of Chinese Firms Fall as Bets of Trump's White House Return Rise
Express News | Ishares China Large Cap ETF Down 1.9%, Kraneshares CSI China Internet ETF Down 3.1%
Express News | Li Auto Down 4.9%, JD.com Slips 4.4%, NIO Falls 6.4%, Xpeng Losses 5.8%
Changjiang Securities: Analysis of Europe's Electric Vehicle Subsidies and Financial and Tax Policies.
Since 2023, many countries in Europe have tightened their subsidies for electric vehicles, coupled with the impact of rising raw material prices, resulting in a significant slowdown in the growth rate of electric vehicle sales in Europe.