HK Stock Market Move | XPENG-W(09868) intraday surge more than 6% with total annual delivery volume of 190,000 vehicles in 2024 and sales target of 350,000 vehicles this year.

XPENG-W(09868) rose by over 6% during the trading day, and as of the time of writing, it has risen by 3.39% to 51.8 Hong Kong dollars, with a trading volume of 6.81 billion Hong Kong dollars. On the news front, in December 2024, Xiaopeng Motors delivered a total of 36,695 smart electric vehicles, an 82% year-on-year increase and a 19% increase from the previous month. Among them, the delivery volume of Xiaopeng MONA M03 exceeded 15,000 units, and the delivery volume of Xiaopeng P7+ exceeded 10,000 units. In the fourth quarter of 2024, Xiaopeng Motors delivered a total of 91,507 smart electric vehicles, a 52% increase from the same period last year. The total delivery volume for the full year of 2024 reached 190,068 units, a 34% year-on-year increase. Dahua Research published a report stating that Xiaopeng Motors' fourth-quarter car delivery volume increased by 52% year-on-year and 97% month-on-month, exceeding the company's management guidance and the bank's expectations. In addition, the performance exceeding expectations in the fourth quarter pushed the company's total annual delivery volume for 2024 to approximately 190,000 units, slightly higher than the company's and the bank's expectations. Looking ahead, Xiaopeng's target is to deliver 350,000 cars this year, significantly higher than Dahua Research's estimate of 230,000 units. The bank pointed out that Xiaopeng's high sales target for this year is due to strong sales of its budget model MonaM03, as well as the introduction of other budget models under the Mona sub-brand.