HK Stock Market Move | XPENG-W(09868) rose nearly 4% today and will disclose its third-quarter report. JP Morgan is optimistic about its gross profit margin expansion.

XPENG-W (09868) rose nearly 4%, up 3.98% at the time of publication, to 52.2 Hong Kong dollars, with a turnover of 9.56 billion Hong Kong dollars. On the news front, Xiaopeng Motors will release its third-quarter report today. Morgan Stanley's research report pointed out that the gross profit margin is expected to expand, while sales, general, and marketing expenses remain flat. The bank expects management to guide fourth-quarter deliveries to reach 80,000 vehicles. As for 2025, the bank estimates that Xiaopeng Motors will see a 119% increase in sales volume to 392,000 vehicles. In addition, the bank predicts that P7+ sales will reach 10,000 units in December, with total sales reaching 124,000 units by 2025. Management is expected to provide more details on next year's new models at the quarterly results meeting. UBS released a research report stating that they believe P7+ and M03 will help Xiaopeng achieve 30,000 deliveries in November, and that the success of P7+ and M03 proves that Xiaopeng's affordable ADAS strategy is working. Furu pointed out that the "Xiaopeng P7+" pricing is attractive and is expected to achieve monthly sales of 10,000 units, with estimated monthly sales exceeding 30,000 units by the end of the year. This is to reflect a more optimistic sales forecast.