On September 2, XPENG-W fell 3.11% in regular trading, trading at HK$43.04/share, with turnover of HK$150 million. The decline followed the company's disclosure that August deliveries totaled 39,107 vehicles, representing a year-over-year increase of just 4%, significantly underperforming rival new energy vehicle makers.

The modest delivery growth stands in stark contrast to peers in the same period — Leapmotor surged 80.7% YoY, Jikr rose 109.8%, Li Auto climbed 32.1%, and NIO gained 14.5%. XPENG-W's first-half deliveries had already declined 15.8% YoY as it digested a high base from the prior year's 126% annual growth. July and August deliveries stabilized above 38,000 units, but the recovery pace remains slow. On the product front, the company launched pre-sales of its G9L flagship SUV on August 11 and obtained a driverless Robotaxi testing permit in Guangzhou.

The broader automobile manufacturing sector was under pressure, with NIO-SW down 5.41%, LI AUTO-W down 3.99%, GEELY AUTO down 2.85%, BYD COMPANY down 2.72%, and LEAPMOTOR down 0.22%.

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