HK Stock Market Move | XPENG-W(09868) falls by more than 4% again. Xiaopeng Motors denies rumors of producing thousands of self-driving rental cars per year.

XPENG-W (09868) fell by more than 4%, at the time of writing, it fell by 4.38%, to 81.95 Hong Kong dollars, with a turnover of 1.097 billion Hong Kong dollars. On the news front, on November 19, market news reported that Xiaopeng Motors will produce thousands of self-driving taxis annually between 2026 and 2027. In response, the relevant department of Xiaopeng Motors stated that the company verified the market news and found that the information was not disclosed by the official sources. Subsequently, the company contacted the news release source, who stated that the information came from a forecast analysis report and was not the actual production arrangement of Xiaopeng Motors. Therefore, the company determined that the rumor was not true. CMSC International released a research report stating that Xiaopeng Motors will promote a dual-energy strategy next year, expand the range-extended vehicle to explore new market space, accelerate overseas expansion, and have sufficient growth momentum in 2026. However, considering the intensifying industry competition, sales forecasts for 2025-2027 are reduced by 3%/6%/11%. At the same time, considering the increased investment in AI-related research and development, profit forecasts are adjusted to -14 billion/12 billion/37 billion RMB. The target price for Xiaopeng Motors is maintained at 115 Hong Kong dollars and 29 US dollars, with a "buy" rating.