Furui: Reiterates "Buy" rating for XPENG-W (09868) with a target price of 70.8 Hong Kong dollars.

Furui released a research report stating that XPENG-W (09868) first artificial intelligence AI car "Xiaopeng P7+" may be a "game changer", indicating the strong product cycle expansion of the company. The target price of its Hong Kong stocks has been raised from 47.2 Hong Kong dollars to 70.8 Hong Kong dollars, and reiterated a "buy" rating. The report stated that the pricing of "Xiaopeng P7+" is attractive, with an estimated monthly sales volume of 10,000 units, and the monthly sales volume is expected to exceed 30,000 units by the end of the year. In order to reflect the optimistic sales forecast, Furui has adjusted the per-share loss forecast for Xiaopeng Automobile for this year and next year to 3.7 yuan and 0.6 yuan respectively.