HK Stock Market Move | XPENG-W (09868) rises by over 4% again, VLA 2.0 performs smoothly, the company's new car cycle strong in 2026.

XPENG-W(09868) rose by more than 4%, up 4.13% at the time of writing, to HK$78.25, with a turnover of HK$8.91 billion. On the news front, recently, Xiaopeng Motors held an investor experience day for VLA 2.0 in Guangzhou. The Goldman Sachs team participated in discussions with Xiaopeng's General Intelligence Center leader and test drove the new P7 model equipped with the latest VLA 2.0 NGP version. In a research report, Goldman Sachs stated that during the test drive, the vehicle achieved smooth driving for over an hour without human intervention in complex scenarios including busy road conditions, narrow curves, mixed traffic with pedestrians and motorcycles, and smoothly completed core operations such as automatic lane changing. Guosheng believes that from the perspective of the company's car sales fundamentals, the company's new car cycle is strong in 2026, and there is hope to create another popular model in 2026. This year, Xiaopeng Motors will launch four new dual-energy vehicle models, including the large six-seat SUV GX and two Mona SUVs. The bank believes that the Mona series of products are positioned in a high-volume price range and, on the other hand, will bring better appearance and interior design capabilities with the help of the Juanma team. Meanwhile, the Mona SUV has the potential to continue to provide consumers with leading intelligent driving capabilities in the high-volume price range, replicating the success of the Mona sedan.