According to JPMorgan's research report, XPENG-W (09868.HK) -0.500 (-0.733%) Short selling $263.64M; Ratio 56.914% 's non-GAAP full-year earnings for FY25 beat the broker's and the market's expectations by 50-70%, showing outstanding performance.XPENG-W achieved quarterly profitability for the first time in 4Q25, with a narrowed annual net loss, mainly benefiting from increased car sales, optimized product mix, and positive contributions from non-automotive businesses such as after-sales services, automotive finance, and Volkswagen technical service fees.In JPMorgan's opinion, XPENG-W and NIO-SW (09866.HK) +0.320 (+0.661%) Short selling $112.64M; Ratio 125.877% are core recovery trades in the Chinese automotive industry and represent attractive buying opportunities for 2026.With leading technology deployment, a strong new car model cycle in 2026, continuous improvement in profitability, robust overseas growth momentum, and diversified business contributions, XPENG-W's stock price is expected to be further re-rated.JPMorgan has kept an Overweight rating on XPENG-W and given it a target price of HKD135.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)
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