Understanding the Market | XPENG-W opened 15% higher, P7+ officially launched with over 10,000 orders in 12 minutes

XPENG-W opened 15% higher, and as of the time of writing, it has risen 15% to HKD 57.5, with a trading volume of HKD 58.6558 million. On the news front, on the evening of November 7th, XPeng held a press conference to officially launch the XPeng P7+. This model features a single motor rear-wheel drive across the entire range and is equipped with lithium iron phosphate battery packs of 60.7 kWh and 76.3 kWh, with a maximum CLTC range of 725 kilometers. The starting price is RMB 186,800, which is a reduction of RMB 23,000 from the pre-sale price. He Xiaopeng announced on Weibo that within 12 minutes of the XPeng P7+ launch, over 10,000 units were pre-ordered, setting a new record for the fastest pre-order speed in XPeng's history. It is reported that after the price announcement for the XPeng P7+, the servers experienced congestion. XPeng's official statement indicated that the traffic was 20 times that of the MONA launch, and they are currently handling the situation urgently. CICC's previous research report pointed out that they believe the launch of the P7+ will drive XPeng's sales growth, and they currently expect the P7+ to help the company enter the larger growth potential market of the RMB 200,000 level, maintaining an "outperforming the industry" rating and profit forecasts for this year and next