Core Insights - Xiaopeng Motors achieved a record delivery of 41,581 smart electric vehicles in September 2025, representing a year-on-year growth of 95% and a month-on-month increase of 10%, surpassing the milestone of 40,000 monthly deliveries [1] - In Q3 2025, the total delivery of smart electric vehicles reached 116,007 units, marking a year-on-year increase of 149% [1] - Cumulatively, Xiaopeng Motors delivered 313,196 vehicles in the first nine months of 2025, a significant increase of 218% compared to the same period in 2024 [1] Delivery Milestones - The 10,000th all-new Xiaopeng P7 rolled off the production line in September 2025, making it the fastest model to achieve a production rate of 40 vehicles per hour on the new production line [1] ESG Rating - Xiaopeng Motors maintained its "AAA" MSCI ESG rating in September 2025, the highest global rating, reinforcing its leading position in the global automotive industry [1] Technology and User Engagement - The monthly active user penetration rate for Xiaopeng's intelligent navigation assisted driving (XNGP) reached 83% in urban driving scenarios as of September 2025 [1] - The company launched the VLA driving version of XNGP, featuring a full-scenario parking-to-parking intelligent driving assistance system (ADAS), initially applied to the all-new Xiaopeng P7 and G7 Ultra models [1]

2025年9月，小鵬汽車智能導航輔助駕駛（XNGP）的城區智駕月度活躍用戶滲透率達 83%。本公司已推出VLA驅動版XNGP，具備全場景車位到車位智能輔助駕駛系統 （ADAS）功能，並已首先應用於全新小鵬P7和G7 Ultra車型。 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 2025 年 9 月及第三季度智能車交付數據 XPeng Inc. （「本公司」或「小鵬汽車」）之董事會欣然宣佈其2025年9月及第三季度 車輛交付數據。 2025年9月，小鵬汽車創記錄交付智能電動汽車41,581輛，同比增長95%，較上月增長 10%，超過每月交付40,000輛的里程碑。2025年第三季度，小鵬汽車共交付智能電動汽 車116,007輛，同比增長149%。2025年前九個月，小鵬汽車累計交付量達到313,196輛， 較2024年同期增長218%。 2025年9月，第10,000輛全新小鵬P7正式下線，小鵬P7成為本公司車型中在新生產線上 最快達成40JP ...

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Core Viewpoint - The Hong Kong stock market saw a rise in shares of several new energy vehicle companies on October 2, with notable increases in stock prices for NIO, Xiaomi, Leap Motor, BYD, and Xpeng [1] Group 1: Company Performance - NIO Inc. (09866.HK) experienced a surge of over 7% at one point during the trading session [1] - Xiaomi Group (01810.HK) and Leap Motor (09863.HK) both saw their stock prices increase by more than 3% [1] - BYD Company Limited (01211.HK) recorded a rise of 2.6% in its stock price [1] - Xpeng Inc. (09868.HK) had an increase of over 1% in its stock price [1]

Core Insights - Xiaopeng Motors reported a record delivery of 41,581 vehicles in September 2025, marking a 95% year-over-year increase and a 10% month-over-month increase, with total deliveries for the first nine months reaching 313,196 units, up 218% year-over-year [2] Group 1: Delivery Performance - The new Xiaopeng P7 reached its 10,000th unit off the production line in September, achieving a production speed of 40 units per hour [2] - The MONA M03 model surpassed 10,000 units in monthly deliveries, with total deliveries exceeding 180,000 units since its launch, maintaining its position as the top A-class electric sedan for 13 consecutive months [2] - The 2025 Xiaopeng X9 became the best-selling electric MPV in Hong Kong and Thailand, while the G6 and G9 models were launched in Switzerland and Austria, with G6's total deliveries increasing by 74% year-over-year [2] Group 2: Technological Advancements and Collaborations - Xiaopeng showcased its main models and advanced technologies at the Munich International Motor Show, announcing the opening of its first European R&D center [3] - A partnership was established with Magna in Graz, Austria, to initiate localized production in Europe, with the first batches of G6 and G9 successfully rolling off the production line in Q3 [3] - A collaboration agreement was signed with Alibaba Cloud for post-quantum security technology, with the new P7 being the first to implement this technology [3] Group 3: ESG and Smart Driving - Xiaopeng received an "AAA" rating from MSCI for three consecutive years, maintaining its leadership in the global automotive industry regarding ESG standards [3] - The penetration rate of smart driving features reached a new high, with over 83% of monthly active users utilizing the XNGP urban driving system, and the VLA version's parking-to-parking feature was fully rolled out [3] Group 4: Marketing Initiatives - During the National Day holiday, Xiaopeng invited customers for test drives at its nationwide offline stores, offering a promotional deal of "5 years 0 interest and 0 down payment" with a maximum subsidy of 55,700 yuan [3]

Group 1: Price Adjustments at Xibei - Xibei has announced significant price reductions on its menu items, with some dishes seeing price cuts exceeding 20% [1] - The price changes were implemented on October 1, with staff updating old menus with new price tags due to the sudden notice [1] - Examples of price changes include: - Scallion Grilled Fish reduced from 89 yuan to 79 yuan (11% decrease) - Sesame Oil Cucumber reduced from 23 yuan to 19 yuan (17% decrease) - Five Tomato Sour Soup Fish reduced from 29 yuan to 23 yuan (20% decrease) [1] Group 2: Tesla's Market Performance - Elon Musk has become the world's first billionaire to surpass $500 billion in net worth, largely due to Tesla's stock performance [2] - Tesla's stock rose by 2.6% to $456.29, reaching a year-high and bringing its market capitalization back to $1.5 trillion [2] - The increase in Tesla's sales in Europe, particularly in France and Denmark, is attributed to strong demand for the Model Y [2] Group 3: New Energy Vehicle Deliveries - In September, seven car manufacturers delivered over 30,000 new energy vehicles, with five companies reporting year-on-year growth exceeding 50% [3] - BYD delivered 396,000 units, a year-on-year decrease of 5.52%, but a month-on-month increase of 6.06% [3] - Leap Motor and Xiaopeng reported significant growth, with deliveries increasing by 97.4% and 94.74% respectively [3] Group 4: Investment Activities - Mixue Group plans to invest 285.6 million yuan to acquire a 51% stake in Fulu Family (Zhengzhou) Enterprise Management [2] - After the investment, Mixue will hold a total of 53% of Fulu Family, making it a non-wholly owned subsidiary [2] Group 5: Apple and AI Developments - Apple has denied any wrongdoing in its collaboration with OpenAI, stating that it plans to work with various AI companies, including xAI [3] - The company is facing a lawsuit from Musk's xAI, which claims that Apple's partnership with OpenAI stifles innovation [3] Group 6: Microsoft and AI Integration - Microsoft is integrating AI services into its Office software, launching a higher-priced version of Microsoft 365 at $19.99 per month [5] - This move aims to enhance competition with OpenAI's ChatGPT [5] Group 7: Automotive Industry Developments - Toyota Kirloskar Motor is reportedly considering an IPO in India, aiming to raise approximately $700-800 million [6] - The formal IPO process has not yet begun, and the company has denied any such plans [6] Group 8: Financial Performance of Nike - Nike reported Q1 revenue of $11.72 billion, a year-on-year increase of 1.1%, surpassing expectations [6] - The company's gross margin was 42.2%, down from 45.4% in the previous year [6] Group 9: ExxonMobil's Workforce Reduction - ExxonMobil announced a global workforce reduction of approximately 2,000 positions, representing about 3-4% of its total workforce [6] - This move is part of a long-term restructuring plan to consolidate smaller offices into regional centers [6]

Group 1: Price Adjustments at Xibei - Xibei has implemented significant price reductions across its menu, with some dishes seeing price drops exceeding 20% [1] - Specific examples of price changes include: - Grassland Tender Grilled Lamb Chops reduced from 119 RMB to 109 RMB - Scallion Grilled Fish reduced from 89 RMB to 79 RMB - Yellow Rice Cake (6 pieces) reduced from 29 RMB to 26 RMB [1][2] Group 2: Tesla's Market Performance - Elon Musk has become the world's first billionaire to surpass 500 billion USD in net worth, largely due to Tesla's stock performance [2] - Tesla's stock rose by 2.6% to 456.29 USD, reaching a year-to-date high and a market capitalization of 1.5 trillion USD, driven by strong demand for the Model Y in Europe [2] Group 3: New Energy Vehicle Deliveries - In September, seven companies delivered over 30,000 new energy vehicles, with five companies reporting year-on-year growth exceeding 50% [3][4] - BYD delivered 396,000 vehicles, a year-on-year decrease of 5.52%, but a month-on-month increase of 6.06% [3] - Other notable deliveries include: - Leap Motor: 67,000 vehicles, up 97.4% year-on-year - Xiaopeng: 42,000 vehicles, up 94.74% year-on-year - NIO: 35,000 vehicles, up 64.06% year-on-year [4] Group 4: M&A Activity in the Food and Beverage Sector - Mixue Group plans to invest 285.6 million RMB to acquire a 51% stake in Fulu Family (Zhengzhou) Enterprise Management [4] - This acquisition will make Fulu Family a non-wholly owned subsidiary of Mixue Group [4] Group 5: Technology and AI Developments - Apple has denied any wrongdoing in its collaboration with OpenAI, stating that it plans to work with various AI chatbots in the future [8] - Microsoft is integrating AI services into its Office suite to compete with ChatGPT, launching a higher-priced version of Microsoft 365 [11] - Apple is shifting focus from upgrading its Vision Pro headset to developing smart glasses to compete with Meta's products [11] Group 6: Financial Performance of Nike - Nike reported Q1 revenue of 11.72 billion USD, a year-on-year increase of 1.1%, surpassing estimates [11] - The gross margin for the quarter was 42.2%, down from 45.4% year-on-year but above the expected 41.7% [11] Group 7: Employment Changes in Major Corporations - ExxonMobil announced a global workforce reduction of approximately 2,000 positions, representing about 3% to 4% of its total workforce [12] - The layoffs are part of a long-term restructuring plan focused on core growth projects [12]

Core Viewpoint - In September, the sales of new energy vehicles (NEVs) in China saw a significant increase for many manufacturers, while BYD experienced a decline in monthly sales compared to the previous year, primarily due to a drop in plug-in hybrid vehicle sales [2][5][6]. Summary by Category BYD Performance - BYD's NEV sales in September were 396,270 units, a year-on-year decrease of 5.52% [5][6]. - The decline was mainly attributed to a 25.58% drop in plug-in hybrid vehicle sales, which totaled 188,000 units, while pure electric vehicle sales increased by 24.31% to 205,000 units [6][10]. - BYD's overseas sales have stagnated since reaching a peak in June, with September's figures only slightly above those of January and February [9][10]. Competitor Performance - Geely's NEV sales reached 165,201 units in September, marking an 81.27% increase year-on-year [5][12]. - Great Wall Motors achieved 45,961 units in NEV sales, a 52.55% increase year-on-year [5][11]. - New energy vehicle sales from emerging manufacturers like Leap Motor and Xiaomi also hit record highs, with Leap Motor delivering 66,670 units, a 97.40% increase [5][17]. Emerging Manufacturers - Leap Motor became the first among new car manufacturers to exceed 60,000 monthly deliveries, marking a significant milestone [15][17]. - Xiaopeng and Xiaomi both surpassed 40,000 units in September, indicating a rising threshold for new energy vehicle sales among emerging manufacturers [17][20]. - NIO's deliveries reached 34,700 units, a 64.06% increase year-on-year, while Li Auto's deliveries fell by 36.79% to 34,000 units [20][25]. Market Trends - The market is witnessing a shift towards pure electric vehicles, with NIO focusing on this technology route and expecting 2025 to be a pivotal year for the NEV market [24][25]. - Li Auto is transitioning to pure electric models, with new launches aimed at enhancing their market position [27].

Core Insights - The new energy vehicle (NEV) sector in China is experiencing significant growth, with several emerging automakers reporting record delivery numbers in September 2023 [1][3][4] Group 1: Delivery Performance - Leap Motor achieved a record monthly delivery of approximately 66,700 vehicles in September, marking a 97% year-on-year increase [3] - Xpeng Motors delivered around 41,600 vehicles in September, a 95% year-on-year increase and a 10% month-on-month increase [3] - Xiaomi Motors surpassed 40,000 deliveries in September, with total deliveries exceeding 100,000 units in Q3, outpacing both Li Auto and NIO [3][4] - NIO delivered approximately 34,700 vehicles in September, a 64% year-on-year increase, while Li Auto delivered 33,951 vehicles, reversing a three-month decline [4] Group 2: Quarterly Performance - In Q3, Leap Motor delivered 173,900 vehicles, Xpeng Motors delivered 116,000 vehicles, Xiaomi Motors delivered over 100,000 vehicles, Li Auto delivered 93,200 vehicles, and NIO delivered 87,100 vehicles [4] Group 3: Industry Trends and Policies - The automotive industry is witnessing a shift with new entrants like Chase Technology entering the market, indicating a dynamic competitive landscape [6] - Recent government policies aim to boost the automotive sector, targeting a total vehicle sales volume of approximately 32.3 million by 2025, with NEV sales projected to reach around 15.5 million [8] - The Ministry of Industry and Information Technology emphasizes the importance of international cooperation and support for both domestic and foreign enterprises in the automotive industry [8]

Group 1: Box Office and Consumer Behavior - The box office for the National Day holiday in 2025 exceeded 4 billion yuan [1] - The expected cross-regional flow of people during the holiday is over 330 million [1] - On the first day of the holiday, the national railway is expected to send 23 million passengers [1] Group 2: Automotive Industry Performance - BYD reported September sales of 396,300 new energy vehicles, a decrease from 419,400 units in the same month last year [1] - Great Wall Motors sold 133,600 new vehicles in September, with new energy models and overseas sales reaching new highs [1] - NIO delivered 34,749 new vehicles in September, setting a historical record [1] - Xiaomi's vehicle deliveries in September exceeded 40,000 units [1] - XPeng Motors delivered 41,581 new vehicles in September, achieving a historical high for single-month deliveries [1] - Li Auto delivered 33,951 new vehicles in September [1] - Leap Motor achieved total deliveries of 66,657 units in September, marking a new high [1]