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2026-07-17 11:59:20 Citi published a research report covering XPENG-W (09868.HK), which launched the MONA L03 compact SUV yesterday (16th). According to the company, non-refundable orders breached 20,000 units within seven minutes of launch. The starting price of the MONA L03 is RMB123,800, RMB20,000 lower than the pre-sale price. The model offers both BEV and EREV powertrain options, and is equipped with its self-developed Turing chip. Citi expected XPENG-W's sales growth, including domestic and export markets, to outstrip peers entering 2H26. The broker noted that XPENG-W recently completed the first overseas localized validation of its Turing AI intelligent driving system in Europe, becoming the first Chinese automaker to deploy a unified AI model in both China and Europe to support ADAS. The company foresaw its VLA2.0 autonomous driving system to be delivered in Europe in 2027, and projected monthly production capacity for its humanoid robot "IRON" to reach 1,000 units by the end of 2026 before launching globally in 2027. Moreover, XPENG-W's Robotaxi officially rolled off the production line in May 2026 and entered internal testing, with trial operations predicted to commence within 2026. Citi set the Hong Kong stock target price at HKD87.7 and the US stock target price for XPeng Inc. (XPEV.US) at USD22.5, while maintaining a Buy rating. Among high-beta stocks, the broker preferred LEAPMOTOR (09863.HK) and XPENG-W. Based on earnings forecast revision trends, the broker was more optimistic on CHERY AUTO (09973.HK), GEELY AUTO (00175.HK) and BYD COMPANY (01211.HK). Meanwhile, the broker maintained Sell ratings on GWMOTOR (02333.HK) and SERES (09927.HK). XPENG-W opened flat today (17th), with the stock hitting a trough of HKD51.75. It last quoted at HKD51.8, down 8.4%, with turnover of 13.0568 million shares involving HKD696 million. ~ AASTOCKS Financial News Website: www.aastocks.com | |