HK Stock Market Move | XPENG-W(09868) rises by over 4% again, with Xiaopeng GX selling nearly 25,000 units in the first 12 hours of listing. Lyon is optimistic about GX's support for profit margins.

XPENG-W(09868) rose more than 4%, as of press time, up 4.04% to HK$63.05, with a turnover of HK$6.04 billion. In terms of news, on May 20th, the Xiao Peng GX officially launched. This model is China's first mass-produced Robotaxi prototype vehicle with a level 4 autonomous driving standard. In terms of price, the Xiao Peng GX's top-of-the-line model is priced at 349,800 yuan for a limited time, which is 5,000 yuan lower than the pre-sale price. According to the company's official Weibo news, there were 24,863 orders for the GX within 12 hours of its launch. Citigroup predicts that the mature stage monthly sales volume of this model could reach 8,000 to 9,000 units. Lyon believes that the GX could optimize the Xiao Peng product lineup, support profit margins, and help achieve the market's forecast of approximately 453,000 units sold by 2026. The firm reiterated its "outperform" rating, with an H-share target price of HK$80.