Understanding the Market | XPENG-W rose over 3% as MONAM03 and P7+ kick off the company's new vehicle cycle, with significant profit flexibility in the future

Zhitong
2024.12.04 02:06
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XPENG-W rose over 3%, as of the time of writing, it rose 2.87%, reported at HKD 50.15, with a transaction volume of HKD 341 million. Changjiang Securities released a research report indicating that XPeng Motors announced its November 2024 sales figures. In November, the company delivered a total of 30,895 new vehicles, a year-on-year increase of 54.2% and a month-on-month increase of 29.2%. From January to November 2024, the company cumulatively delivered 153,000 new vehicles, a year-on-year increase of 26.2%. The monthly delivery in November broke 30,000 for the first time, setting a historical high for three consecutive months, with the M03 monthly delivery exceeding 10,000 again. The report continued to state that the company's intelligent driving remains leading, and with channel transformation and strengthened marketing systems, coupled with the launch of strong new vehicle cycles, the company's sales are expected to steadily increase. The MONAM03 and P7+ mark the start of the company's new vehicle cycle. Scale enhancement, platform and technology cost reduction effects will further manifest, along with the expansion of the software profitability business model and continuous growth overseas, the company's future profitability has significant elasticity. The company is expected to have a revenue of 41.5 billion yuan in 2024, corresponding to a PS of 2.0X, with substantial improvement in financial performance reflected in software revenue, and the company is likely to enter a turning point in the new vehicle cycle, maintaining a "Buy" rating

According to Zhitong Finance APP, XPeng-W (09868) rose over 3%, and as of the time of writing, it increased by 2.87% to HKD 50.15, with a transaction volume of HKD 341 million.

Changjiang Securities released a research report indicating that XPeng announced its November 2024 sales figures. In November, the company delivered a total of 30,895 new vehicles, a year-on-year increase of 54.2% and a month-on-month increase of 29.2%. From January to November 2024, the company cumulatively delivered 153,000 new vehicles, a year-on-year increase of 26.2%. November's single-month deliveries broke 30,000 for the first time, setting a historical high for three consecutive months, with M03 single-month deliveries exceeding 10,000 again.

The firm further stated that the company's intelligent driving continues to lead the market. With channel transformation and strengthened marketing systems, coupled with the launch of strong new vehicle cycles, the company's sales are expected to steadily increase. The MONAM03 and P7+ mark the beginning of the company's new vehicle cycle. Scale enhancement, platform and technology cost reduction effects will further manifest, along with the expansion of the software profitability business model and continuous growth overseas, providing significant elasticity for the company's future profitability. The company is expected to achieve revenue of 41.5 billion yuan in 2024, corresponding to a PS2.0X, with substantial improvements in financial performance reflected in its software revenue. The company is likely to enter a turning point in its new vehicle cycle, maintaining a "Buy" rating

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