HK Stock Market Move | XPENG-W(09868) rises more than 5%, the company announces to accelerate the globalization process and has recently received positive reviews from multiple institutions.

XPENG-W (09868) rose more than 5%, as of the time of publication, it rose by 5.05% to 75.9 Hong Kong dollars, with a turnover of 9.42 billion Hong Kong dollars. On the news front, according to Xiaopeng Motors' Weibo on February 24th, Xiaopeng Motors announced it is speeding up its globalization process, proposing a leading strategic direction in the global market: covering 60 countries and regions by 2025, aiming to be among the top three global new energy exports by 2027, and achieving half of its sales from overseas by 2033. By 2025, the Turing AI driving will be launched globally, bringing China's ten years of smart driving experience to the world, and the super-fast charging network will be deployed globally. Goldman Sachs released a research report stating that Xiaopeng Motors delivered 92,000 new energy passenger vehicles in the last quarter of last year, an increase of 52% year-on-year and 97% quarter-on-quarter. The market share of new energy passenger vehicles in mainland China increased from 1.5% in the previous quarter to 2.4%, primarily driven by MONAM03 and P7+. The bank maintains a "neutral" rating on Xiaopeng Motors, with a target price raised from 50 Hong Kong dollars to 57 Hong Kong dollars. Credit Suisse pointed out that, based on public information, the company is the only Chinese electric vehicle manufacturer currently developing humanoid robots. Although research and development resources are spread across multiple projects, it also reflects the management's commitment to AI technology. The bank believes that the management emphasizing the application of AI in the next quarterly earnings conference call will be a near-term stock price catalyst.