Zhitong App learned that XPENG-W (09868) surged by over 5%, as of the time of publication, it rose by 4.89% to HKD 39.65, with a turnover of HKD 92.2449 million.
On the news front, XPeng's Chairman and CEO, He Xiaopeng, announced that XPeng is about to launch a brand new brand, officially entering the global 100-150 thousand level automobile market, aiming to provide young people with a truly AI smart driving car. He mentioned that XPeng will upgrade its &#34;AI technology core smart driving&#34; this year, with a planned annual investment of 3.5 billion yuan in intelligent R&amp;D and the recruitment of 4,000 new employees. In addition, in the second quarter of this year, Xiaopeng's AI smart driving large model will officially be &#34;on board&#34;, making it the first mass-produced and deployed AI and cognitive engine for vehicles in the automotive industry.
According to a research report from Shenwan Hongyuan, the company's smart driving capabilities are leading, with the potential to deeply participate in the domestic high-end smart driving development wave; profitability will significantly improve after cost reduction and efficiency enhancement; and it is about to usher in a big year for products in 2024 and 2025. The report also pointed out that XPeng is still in a period of losses before the large-scale volume expansion, but with the continuous advancement of cost reduction and efficiency enhancement measures and the contribution of new models to sales volume, it is expected to quickly achieve a reduction in losses.

XPEV

09868

XPeng-W surged more than 5%, as of the time of writing, it increased by 4.89% to HKD 39.65, with a trading volume of HKD 92.2449 million.

Zhitong

XPeng

XPENG-W

Hong Kong Stock Market Update: XPENG-W surged over 5% as it is about to launch a brand new model. The intelligent driving flagship model is set to officially hit the road in the second quarter.