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CICC reported on May 23 thatvocabularybingo, Xiaopeng Automobile's first-quarter performance exceeded market expectationsvocabularybingoThanks to the increase in gross profit margin and effective cost management. Maintain the "Leading Industry" rating and lower the target price of H-shares by 21% to HK$47.
The report mentioned that CICC has adjusted Xiaopeng Automobile's revenue forecast and expects revenue to fall by 19% and 15% this year and next year to reach HK$39.9 billion and HK$85.8 billion respectively. At the same time, the company's loss forecast for this year has also been adjusted to HK$7.2 billion, while the forecast for next year's profit and loss remains unchanged.
Analysts believe that despite market competition and uncertainty in software service revenue, Xiaopeng Automobile's financial performance still shows strong profitability and cost control capabilities.
