HK Stock Market Move | XPENG-W (09868) afternoon decline narrowed to less than 2%. Xiaopeng has obtained L3 level automatic driving road test license in Guangzhou City.

XPENG-W (09868) fell more than 5% at one point during trading hours, but the decline narrowed quickly in the afternoon. As of the time of writing, it was down 1.76% at HK$72.45, with a trading volume of HK$14.76 billion. On the news front, according to First Financial, Xiaopeng Motors has obtained an L3 level autonomous driving road test license in Guangzhou and has started normalized L3 road testing. This license is mainly used for conducting conditional autonomous driving tests on high-speed roads for intelligent networked vehicles in Guangzhou. It is reported that on December 15th, the Ministry of Industry and Information Technology approved two L3 level autonomous driving vehicle models, which belong to Changan and Jihu brands respectively. Next, these two models will conduct road trials in certain areas and roads in Chongqing and Beijing. GF Securities released a research report stating that this Ministry of Industry and Information Technology vehicle license marks the official entry of China into the L3 era of autonomous driving. Related car companies are expected to benefit from early deployment, and Xiaopeng Motors is recommended.