Macquarie released a research report sayinghowlingwolvesmegaways, maintain the "neutral" rating of Xiaopeng Automobiles-W(09868), and raise its target price from HK$28 to HK$32. The company's net loss for the first quarter was 18% less than market expectations, benefiting from strong services to the German publichowlingwolvesmegawaysProfit contribution. Xiaopeng's sales growth is still driven in the later period. Based on the launch of MONA and the new Xiaopeng battery electric sedan, the company is optimistic that sales will rise sharply in the fourth quarter.

The bank said it raised its forecast for Xiaopeng's sales next year to 31.howlingwolvesmegaways.30,000 vehicles, but revenue is expected to be flat this year and next, and the adjusted net loss forecast will narrow by 21% and 22% year-on-year respectively, reflecting better profitability of serving the German public. As the new management reversed its profitability and product strategy, the bank still held a wait-and-see view on Xiaopeng, and based on fierce competition, it held a cautious view on the Volkswagen battery electric vehicle market, waiting for more details on the MONA model.