XPENG-W (09868) surged over 9% at market open, reaching HK$100.8 with a trading volume of HK$120 million by press time. The rally follows the company's recent showcase of four key applications in "Physical AI" at its 2025 Tech Day, including the second-generation VLA model, XPENG Robotaxi, the new IRON humanoid robot, and the HT Aero flying car. Notably, the debut of its female robot with hyper-realistic human-like movements has drawn significant attention.

CITIC Securities noted that from now through 2026, as XPENG's VLA and robotics technologies enter mass production, the company will transition from a "new-energy vehicle maker" to a "tech firm pioneering Physical AI." This technological edge in exploring uncharted domains, the firm argues, remains XPENG's core competitive advantage.

Multiple top-tier institutions, including Morgan Stanley and Citi, have recently issued bullish reports on XPENG. Citi highlighted that while the company is still in the early stages of quantifying profitability from its new ventures, these developments are expected to boost market sentiment and elevate its valuation—shifting from traditional EV metrics to higher premiums tied to AI, tech, and Robotaxi growth. Deutsche Bank praised the progress, stating XPENG has taken "a major step toward becoming a global leader in embodied intelligence."