CICC Securities: Maintains "Buy" Rating on Xpeng Motors-W (09868.HK) with Overall Gross Margin Reaching a Historic High

According to the financial news app, China Securities, CICC released a research report stating that it maintains a "buy" rating for XPeng Motors-W (09868.HK) and a target price of 134.69 Hong Kong dollars. XPeng's revenue in the third quarter showed steady growth, with a historical high comprehensive gross profit margin of 20.1% and a continued narrowing of net losses. The company expects delivery volume and revenue to further increase in the fourth quarter, benefiting from mass production of new platforms and the penetration of intelligent driving technology. The mid-term profitability is expected to continue to improve.