Changes in Hong Kong stocks | Xiaopeng Group-W (09868) fell more than 3%, July deliveries fell 5.23% month-on-month, Citi expects its non-GAAP net loss for the second quarter to be about 1 billion yuan

The Zhitong Finance App learned that Xiaopeng Group-W (09868) fell by more than 3%. As of press release, it was down 3.28% to HK$48.94, with a turnover of HK$404 million.

According to news, Xiaopeng Group delivered 38027 vehicles in July, up 4% year on year and down 5.23% month on month. According to a research report released by Citigroup, Xiaopeng Group is expected to have a net non-GAAP loss of about 1 billion yuan in the second quarter, a comprehensive gross margin of about 20%, and a gross automobile margin of about 12.5%. The bank expects Xiaopeng to deliver a total of about 130,000 vehicles in the third quarter, which is lower than market expectations of 150,000 vehicles, mainly due to July deliveries that may be slightly lower than expected, plus the time required for L03 production to climb the slope, and the sales volume of L03 (gross margin over 10%) or encroachment on M03 (gross margin only in units).