Xiaopeng Motor-W (09868) fell by more than 7%. As of press release, it was down 7.01% to HK$31.85, with a turnover of HK$405 million.
The Zhitong Finance App learned that Xiaopeng Automobile-W (09868) fell by more than 7%. As of press release, it was down 7.01% to HK$31.85, with a turnover of HK$405 million.
According to the news, Xiaopeng Motor will release its first quarter results after the market today. Guosheng Securities previously stated that looking ahead to 2024Q1, the company's performance is expected to be temporarily under pressure. 1) It guides delivery of 210-22,500 vehicles in Q1, up 15.2%-23.4% year on year, and 2) target revenue of 58-6.2 billion yuan, up 43.8%-53.7% year on year. In addition, Dongye Ideal Auto achieved revenue of 25.6 billion yuan in the first quarter, up 36.4% year on year and down 38.6% month on month; net profit was 591 million yuan, down 36.7% year on year and 89.7% month on month.
According to reports, Xiaopeng Motor adjusted prices for its models several times this year. The starting price of the Xiaopeng G6 was reduced to 189,900 yuan, the starting price of the Xiaopeng P7i was reduced by 15,000 yuan, and the Xiaopeng G9 was reduced by up to 20,000 yuan for a limited time. However, for four consecutive months this year, Xiaopeng Motor's monthly sales did not exceed 10,000. BOC International previously stated that the company's gross margin forecast for 2024 will remain low in single digits, mainly due to a more intense price war.