Core Insights - Xiaopeng Motors announced a record delivery of 37,709 smart electric vehicles in August, representing a year-on-year increase of 169% and a month-on-month growth of 3% [1] - In the first eight months of 2025, Xiaopeng Motors delivered a total of 271,615 smart electric vehicles, which is a 252% increase compared to the same period last year [1]

Core Insights - Xiaopeng Motors (09868.HK) reported a record delivery of 37,709 smart electric vehicles in August 2025, representing a year-on-year increase of 169% and a month-on-month increase of 3% [1] - In the first eight months of 2025, the company delivered a total of 271,615 smart electric vehicles, marking a significant year-on-year growth of 252% [1] - The newly launched Xiaopeng P7 model was officially introduced on August 27, 2025, with nationwide deliveries commencing on August 28, 2025 [1] - The monthly active user penetration rate for Xiaopeng's smart navigation assisted driving (XNGP) reached 85% in urban driving scenarios in August 2025, indicating strong user acceptance and positive feedback since its launch [1]

Core Insights - Xiaopeng Motors (09868) reported a record delivery of 37,709 smart electric vehicles in August 2025, representing a year-on-year increase of 169% and a month-on-month increase of 3% [1] - In the first eight months of 2025, the company delivered a total of 271,615 smart electric vehicles, marking a significant year-on-year growth of 252% [1] - The company officially launched the new Xiaopeng P7 model on August 27, 2025, with nationwide deliveries commencing on August 28, 2025 [1] - The monthly active user penetration rate for Xiaopeng's smart navigation assisted driving (XNGP) reached 85% in urban driving in August 2025, indicating strong user acceptance and positive feedback since its launch [1]

Core Insights - Xiaopeng Motors announced a record delivery of 37,709 smart electric vehicles in August 2025, representing a year-on-year increase of 169% and a month-on-month increase of 3% [1] - In the first eight months of 2025, Xiaopeng Motors delivered a total of 271,615 smart electric vehicles, which is a 252% increase compared to the same period last year [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦 不發表聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失 承擔任何責任。 自願公告 香港，2025年9月1日（星期一） 本公告載有前瞻性陳述。前瞻性陳述涉及固有風險和不確定性。多種因素可能導致實際結果與 任何前瞻性陳述中的結果產生實質性差異，包括但不限於以下方面：本公司的目標及戰略；本 公司的拓展計劃；其未來的業務發展、財務狀況和經營成果；中國智能電動汽車市場的發展趨 勢和規模；本公司對於其產品及服務的需求及市場接受程度的期待；本公司對於其與客戶、合 作廠商、供應商、第三方服務提供商、戰略合作夥伴及其他持份者的關係的期待；總體經濟及 商業狀況；及與上述任何一項有關或與之相關的假設。本公告中提供的所有信息均截至本公告 日期，除適用法律要求的範圍外，本公司不承擔任何更新前瞻性陳述的義務。 於本公告日期，本公司董事會由執行董事何小鵬先生，非執行董事符績勳先生，以及獨立非執 行董事楊東皓先生、瞿芳女士及張宏江先生組成。 * 僅供識別 2025年8月，小鵬汽車共交付智能電動汽車37,709輛 ...

Core Insights - Xiaopeng Motors has officially launched the new generation P7 model, positioning it as a "future AI luxury coupe" with four variants priced between 219,800 to 301,800 yuan [1] - The new P7 integrates advanced technologies including 800V+5C powertrain technology and AI capabilities, aiming to redefine the standards for luxury electric sedans priced around 300,000 yuan [1] - The vehicle features a minimalist design, high-performance specifications, and advanced AI driving assistance powered by self-developed Turing AI chips, achieving a total computing power of 2250 TOPS, the highest globally [1] Performance and Specifications - The new P7 is equipped with an 800V XPower electric drive system, delivering a maximum power of 593 PS and achieving 0-100 km/h acceleration in just 3.7 seconds [1] - It has set a record for the fastest electric sedan under 500,000 yuan at the Zhejiang International Circuit with a time of 1 minute and 38.767 seconds [1] - The vehicle is powered by a 92.2 kWh ternary lithium battery, offering a maximum CLTC range of 820 kilometers and supporting 800V 5C ultra-fast charging, allowing for 525 kilometers of range in just 10 minutes [2] Reliability Testing - The new P7 underwent a 24-hour endurance test, covering 3961 kilometers at an average speed of 220 km/h, demonstrating the reliability of its powertrain system [2]

Group 1 - The 28th Chengdu International Auto Show features XPeng Motors showcasing new models including the XPeng P7, G7, 2025 XPeng X9, MONA M03, and the humanoid robot IRON, emphasizing the theme "AI Changes the World" [1] - XPeng's self-developed Turing AI chip is now equipped in the G7 Ultra and the new P7 Ultra, with plans for all new Ultra models to include three Turing AI chips [1] - The humanoid robot IRON is expected to be utilized in production and service scenarios, expanding the AI ecosystem [1] Group 2 - For Q2, XPeng reported revenue of 18.27 billion yuan, a year-on-year increase of 125.3%, with vehicle deliveries reaching 103,200 units, up 241.6% [3] - The company’s gross margin improved to 17.3%, cash reserves increased to 47.57 billion yuan, and R&D expenditure reached 2.21 billion yuan [3] - In the first half of the year, XPeng launched five updated models, achieving record delivery numbers in Q2 [3] Group 3 - The new XPeng P7 was officially launched on August 27, with over 10,000 orders placed within 7 minutes of its release, and it features three Turing AI chips with a computing power of 2250 TOPS [3] - The P7 is equipped with the "858" high-performance battery pack, supporting 525 km of range in just 10 minutes of charging and a maximum range of 820 km [3] - The XPeng X9, the first model with the Kunpeng Super Electric (range extender), is set to launch in Q4, with expected monthly deliveries exceeding 40,000 units starting in September [4] Group 4 - From January to July, XPeng's overseas deliveries reached 21,700 units, a year-on-year increase of 174%, with operations now in 46 countries and regions [4] - The first locally produced XPeng X9 in Indonesia was delivered in July [4] Group 5 - In August, XPeng Motors and Volkswagen Group announced a collaboration to develop an electronic and electrical architecture to be integrated into Volkswagen's electric, fuel, and plug-in hybrid models in the Chinese market [5]

Core Insights - Guangdong's economy in Q1 2025 shows a mixed landscape of challenges and highlights, with emerging industries like AI, robotics, and new energy vehicles driving growth despite external pressures and weak domestic demand [1][12]. Economic Overview - The overall economic performance of Guangdong is under pressure, with exports down 4.3% year-on-year, significantly lower than the previous year's decline of 12.7 percentage points [2][14]. - Fixed asset investment decreased by 8.4%, indicating a need for improved market confidence [2][14]. - Retail sales of consumer goods grew by 1.0% year-on-year, showing some recovery in certain sectors due to policy support [2][5]. Industrial Production - Industrial production is characterized by a "new vs. old" dynamic, with traditional sectors like textiles and furniture continuing to struggle, while emerging industries are experiencing rapid growth [3][17]. - Industrial robot production increased by 31.1%, and the output of civilian drones surged by 92.7% [3][17]. - The new energy vehicle sector saw a remarkable 50.9% increase in production, with BYD's sales reaching 1 million units, up 59.81% year-on-year [3][19]. Regional Development - Economic performance varies significantly across regions, with core cities in the Pearl River Delta like Shenzhen, Guangzhou, and Foshan showing weak industrial growth [4][22]. - Some cities like Huizhou and Meizhou have seen industrial growth due to advancements in electronics and traditional industries [4][22]. Investment and Consumption - Overall fixed asset investment fell by 8.4%, but industrial technology upgrades and automotive manufacturing investments showed positive trends [5][30]. - Foreign direct investment reached 23.31 billion yuan, up 5.9% year-on-year, indicating Guangdong's continued attractiveness to foreign investors [5][30]. - Consumer markets are showing signs of recovery, with policies like "trade-in" boosting sales in certain categories, although non-subsidized goods remain weak [5][31]. Foreign Trade - The trade environment is challenging, with U.S. tariffs impacting exports significantly, leading to a 5.9% decline in exports to the U.S. [6][14]. - Despite the overall decline, cities like Guangzhou and Dongguan have shown strong export performance in high-tech products [7][14]. Outlook - Looking ahead, external pressures may increase, but supportive policies and the continued growth of emerging industries are expected to provide a buffer [9][12]. - The implementation of new policies aimed at promoting AI and robotics is anticipated to sustain the momentum of emerging industries [9][12].

Group 1 - NIO aims to achieve profitability in Q4 2023, with CEO Li Bin emphasizing the need for the company to rely on its own capabilities to recover from recent losses [3][6] - The launch of the L90 and new ES8 models has shown improved execution and market response, indicating a shift towards a more competitive electric vehicle landscape [3][9] - Li Bin highlighted the increasing benefits of battery swapping technology, suggesting a turning point in the electric vehicle market towards pure electric models [9][24] Group 2 - JD.com founder Liu Qiangdong was seen supporting his hometown football team, coinciding with the opening of new discount stores in the area [4][6] - Huawei's rotating chairman Xu Zhijun announced that the HarmonyOS ecosystem is well-established, with major applications adapting to the platform [8][9] - Xiaopeng Motors' CEO He Xiaopeng expressed confidence in the new P7 model's pricing strategy, indicating a competitive environment in the automotive sector [9][24] Group 3 - Bawang Tea's CEO Zhang Junjie discussed the company's strategy to avoid price wars and focus on high-value branding amidst fierce competition in the food delivery market [9][24] - Meta is exploring partnerships with Google and OpenAI to enhance its AI capabilities, while also facing scrutiny for using celebrity likenesses without permission [10][13] - SpaceX achieved a milestone with its Falcon 9 rocket, completing its 30th launch and recovery, showcasing advancements in reusable rocket technology [17][24]

Core Viewpoint - The automotive industry is on the brink of a revolution driven by smart technology, with 2025 expected to be a pivotal year for the adoption of Level 3 (L3) automation, particularly in urban environments [1][2]. Group 1: Automotive Smart Technology - L3 automation is anticipated to significantly influence consumer purchasing decisions, becoming one of the top three considerations when buying a car [1]. - The penetration rate of L3 automation is projected to increase from 10% in 2025 to over 80% by 2027, indicating a rapid adoption phase [1]. - The future automotive landscape is expected to be categorized into three types of companies: B-end Robotaxi operators, C-end personalized brands, and high-end vehicle manufacturers [2]. Group 2: Market Trends and Developments - In August, the penetration rate of urban NOA (Navigation on Autopilot) reached 23.2%, reflecting a month-on-month increase of 0.9 percentage points [3]. - Companies like Li Auto and XPeng are leading in smart technology adoption, with XPeng's smart technology penetration exceeding 70% and Li Auto's at 59.4%, despite a slight decline [3]. - The introduction of next-generation driving architectures, such as VLA, is being implemented in new models, enhancing the capabilities of smart driving systems [3]. Group 3: Investment Recommendations - The report suggests a focus on smart vehicles and related components, highlighting companies in both Hong Kong and A-share markets, such as XPeng Motors, Li Auto, BYD, and SAIC Motor [4]. - Investment opportunities are identified in AI chips, domain controllers, and electronic components, with specific companies recommended for each category [4].