According to the research report released by Soochow Securities, Xpeng-W (09868) is expected to have a revenue of 44.5 billion/82.7 billion/114.6 billion yuan and a net income of -5.8 billion/-3.2 billion/1.3 billion yuan from 2024 to 2026 respectively. The EPS for 2026 is 0.66 yuan, and the corresponding PE ratio is 45 times. Considering Xpeng's leading position in the industry's level of smart driving technology and continued competitive strength in the future, the rating is maintained as a “buy” recommendation.

According to the report, in May 2024, Xpeng delivered a total of 10,146 new cars, a year-on-year increase of 35% and a month-on-month increase of 8%. From January to May 2024, a total of 41,360 cars were delivered, a year-on-year increase of 26%, which performed as expected. In terms of overseas markets, in May, Xpeng announced its official entry into the Australian and French markets, bringing key models such as G9 and G6 to Australian and French market users. In May, Xpeng G6 and X9 officially made their debut in Hong Kong. The first batch of right-drive version Xpeng G6 is expected to be delivered in the third quarter of this year, and H2 overseas market sales are expected to see a rapid breakthrough.

Looking ahead to June, Xpeng's new model Mona is expected to make its debut, positioning itself as an A-class car. With Xpeng's self-developed smart driving technology, high-end smart driving functions will be implemented in the price range of 100,000 to 150,000 yuan, which will help increase the brand's sales and momentum through differentiated product competitiveness.