BUZZ-China's Xpeng hits over 3-year peak on outlook optimism

Reuters
Yesterday
BUZZ-China's Xpeng hits over 3-year peak on outlook optimism

** Hong Kong shares of Chinese electric vehicle maker Xpeng 9868.HK jump 15.7% to HK$106.44, their highest since July 2022, and on course for fourth consecutive session of gains

** Stock on course for the biggest one-day pct rise since July 2023; top pct gainer on Hang Seng Tech Index .HSTECH and Hang Seng Automobile Index .HSAMI, which climbs 0.2% and 2.6% respectively

** U.S.-listed stock XPEV.N soared 16.2% on Monday

** Xpeng said last week it will roll out three self-developed robotaxi models and start trial operations in 2026 and will team up with Alibaba's 9988.HK digital mapping arm Amap to launch robotaxi service

** China's auto and AI-related ecosystem spans autonomous driving, robotaxis and robotics, and they represent one of the largest structural growth opportunities in the next decade - HSBC wrote in a note last week

** "Among OEMs, we prefer XPENG for its accelerating product cycle with its leading AD capabilities, and potential opportunities in physical AI (Robotaxi + Humanoid Robotics) business" - HSBC

** YTD, Xpeng Hong Kong stock up 125.1%, U.S.-listed shares up 120.3%, benchmark Hang Seng Index .HSI up 32.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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