Bocom intl published a research report stating that it maintains its previous view on XPeng Motors-W (09868), stating that the product strength and cost-effectiveness positioning of the M03 and P7+ will have a positive impact on the models to be released next year. At the same time, since XPeng has not announced the timeline for the extended-range models, the firm believes that the market has not yet priced in the impact of the extended-range on sales, and there is still room for sales adjustments next year. The firm maintains a "buy" rating and a target price of 77.36 HKD.