Changes in Hong Kong stocks | Xiaopeng Group-W (09868) fell more than 4%, and Lyon lowered its target price to HK$44, the company achieved 52% of its annual target of 550,000 yuan

The Zhitong Finance App learned that Xiaopeng Group-W (09868) fell by more than 4%. As of press release, it was down 3.83% to HK$35.7, with a turnover of HK$357 million.

According to the news, the CITIC Lyon research report indicates that the mainland automobile sector is plagued by a new round of uncertainty about tariffs and tax refunds, but related adverse factors are already largely reflected in stock prices. The bank's historical risk-reward analysis shows that there is more room for improvement at the current level. The bank lowered the target price of some mainland automobile stocks, mainly due to a reduction in valuation multiples. Among them, the target price of Xiaopeng Group was reduced from HK$80 to HK$44. It is worth noting that in the first three quarters of this year, Xiaopeng Motor delivered 284,400 vehicles, a year-on-year decrease of 9.2%, and a completion rate of 47.4% to 51.7% based on the target of 550,000 to 600,000 vehicles.

Furthermore, the recent Xiaopeng MPV model attracted attention because the airbags did not pop up after the accident. At the same time, the “Laodeng” storm at the MONA L05 press conference also caused controversy. On October 15, at the Xiaopeng MONA L05 pre-sale press conference, post-00s product manager Enta mentioned “Old Deng” several times when introducing the product. On October 24, Yu Tao, vice president of Xiaopeng Group, posted a long post on his social media account saying that from the beginning to the end, the name “Lao Deng” was a joke made by the product team on several core internal leaders, and did not point to any external users at all.