Core Insights - XPENG, in collaboration with Peking University, has developed FastDriveVLA, a novel visual token pruning framework for autonomous driving AI, which has been accepted at AAAI 2026, a prestigious AI conference with an acceptance rate of 17.6% [1][10]. Technology Development - FastDriveVLA focuses on efficient visual token pruning, allowing AI to prioritize essential visual information while filtering out irrelevant data, thereby enabling autonomous driving systems to "drive like a human" [2][4]. - The framework employs an adversarial foreground-background reconstruction strategy to enhance the model's ability to retain valuable tokens, achieving a significant reduction in computational load [5]. Performance Metrics - On the nuScenes autonomous driving benchmark, FastDriveVLA demonstrated state-of-the-art performance, achieving a nearly 7.5x reduction in computational load when visual tokens were reduced from 3,249 to 812, while maintaining high planning accuracy [5]. Industry Recognition - This marks the second recognition for XPENG at a top-tier global AI conference in 2025, following its participation in CVPR WAD, where it presented advancements in autonomous driving foundation models [6]. - XPENG's commitment to achieving L4 level autonomous driving is underscored by its full-stack in-house capabilities, which encompass model architecture design, training, and vehicle deployment [7]. Company Overview - XPENG is positioned as a leader in future mobility transformation, with R&D centers across China and a global strategy for research, development, and sales, including a presence in the United States and Europe [8][9].

Group 1: Market Movements - Cambridge Technology (06166) saw a mid-session surge, currently up over 7.3%, driven by LightCounting's prediction that the global optical module market will exceed $37 billion by 2029, with 1.6T optical modules expected to enter commercial use in 2025, anticipating a demand of 2.5 to 3.5 million units [1] - Sais Group (09927) rose over 3% after announcing the launch of its overseas brand DFSK in Egypt, marking its entry into the Egyptian market [1] - Power stocks collectively declined, with Huaneng International (00902) down 7.78%, Datang Power (00991) down 5.13%, Huadian International (01071) down 2.88%, and China Resources Power (00836) down 2.7%, following the release of long-term electricity prices in Guangdong and Jiangsu for 2026, which showed significant decreases [1] Group 2: Commodity and Sector Updates - China Silver Group (00815) increased over 7% as silver prices surged dramatically, with COMEX silver futures rising over 11% and spot silver up over 10%, marking a year-to-date increase of 175%, significantly outpacing gold [2] - Xpeng Motors (09868) rose nearly 6% after holding a brand launch event in Doha, Qatar, indicating its entry into the high-end Middle Eastern market [2] - Some photovoltaic stocks saw gains, with GCL-Poly Energy (00451) up 6.76%, New Times Energy (01799) up 4.81%, GCL-Technology (03800) up 1.83%, and Xinyi Solar (00968) up 0.99%, following regulatory guidance aimed at ensuring fair competition in the solar industry [2] Group 3: Corporate Developments - AVIC Aircraft (02357) rose over 1.5% after announcing a partnership agreement to acquire 59.1816% of a partnership interest from Aviation Industry Investment for a consideration of RMB 202 million [3] - MGM China (02282) experienced a sharp decline of over 13% after a new long-term brand cooperation agreement was announced, which will increase brand usage fees significantly starting in 2026, expected to reach HKD 1.2 billion [4] - Dongfang Zhenxuan (01797) rose over 4.3% following the confirmation of a new CEO, marking a leadership transition within the company [4] Group 4: U.S. Market Highlights - Tesla (TSLA.US) fell 2.1% amid mixed expectations for Q4 delivery volumes, with estimates ranging from 415,000 to 440,000 units [5] - Target (TGT.US) saw a peak increase of 6.7% due to significant investment from activist investor TOMS Capital [5] - Coupang (CPNG.US) shares rose by 11% after the company announced it had recovered devices used to leak user information [5]

Core Viewpoint - The Hong Kong stock market saw a significant rise in automotive stocks, driven by government initiatives to boost consumer spending in the upcoming year [1] Group 1: Market Performance - NIO (09866) increased by 6.71%, reaching a latest price of 41.020 with a market capitalization of 101.08 billion, and a year-to-date increase of 17.87% [2] - Xpeng Motors (09868) rose by 6.44%, with a latest price of 81.000 and a market cap of 154.842 billion, showing a year-to-date increase of 73.63% [2] - BYD (01211) saw a 6.14% increase, with a latest price of 99.350 and a market cap of 905.7947 billion, reflecting a year-to-date increase of 13.65% [2] - Geely (00175) increased by 5.20%, with a latest price of 17.800 and a market cap of 191.153 billion, showing a year-to-date increase of 22.84% [2] - Li Auto (02015) rose by 4.23%, with a latest price of 67.800 and a market cap of 136.864 billion, but has a year-to-date decrease of 27.83% [2] - Leap Motor (09863) increased by 3.92%, with a latest price of 51.900 and a market cap of 73.792 billion, reflecting a year-to-date increase of 59.45% [2] - Great Wall Motors (02333) rose by 3.34%, with a latest price of 14.860 and a market cap of 127.17 billion, showing a year-to-date increase of 12.85% [2] - GAC Group (02238) increased by 3.00%, with a latest price of 4.120 and a market cap of 42.012 billion, reflecting a year-to-date increase of 21.60% [2]

港股机器人概念股走强，优必选涨超10%，微创机器人-B涨超10%、小鹏汽车-W涨超5%。 港股机器人概念股走强，优必选涨超10%，微创机器人-B涨超10%、小鹏汽车-W涨超5%。 ...

每经AI快讯，小鹏汽车-W(09868.HK)涨超5%，截至发稿，涨5.72%，报80.45港元，成交额8.6亿港元。 每经AI快讯，小鹏汽车-W(09868.HK)涨超5%，截至发稿，涨5.72%，报80.45港元，成交额8.6亿港元。 ...

Core Viewpoint - Xpeng Motors announced the global launch of its new P7+ model, which adheres to unified production and safety standards across 36 countries [1] Group 1: Product Features - The 2026 P7+ extended range version will achieve a comprehensive range of 1550 kilometers [1] - The pure electric version of the P7+ will have a range of 725 kilometers [1]

每经AI快讯，12月29日，小鹏汽车宣布，新款P7+应用了全球化统一的生产和安全标准，将在全球36国同步发布。据介绍，2026款小鹏P7+增程版本综合续 航里程将达到1550公里，纯电版本续航里程达到725公里。 ...

智通财经APP获悉，小鹏汽车-W(09868)涨超6%，截至发稿，涨5.72%，报80.45港元，成交额8.6亿港 元。 消息面上，据小鹏汽车官微消息，近期，小鹏汽车于卡塔尔多哈隆重举行品牌上市发布会，标志着其正 式进军这一中东高端市场。本次发布会上，小鹏G9与小鹏G6联袂亮相，并预告即将推出小鹏P7+车 型，旨在为本地消费者提供更为丰富的智能出行选择。 此外，12月16日，小鹏汽车与毛里求斯知名经销商Axess Limited达成战略合作，标志着品牌正式进入这 一非洲东部重要市场。毛里求斯不仅是高端旅游目的地，也是连接非洲、亚洲与中东的区域枢纽，具备 辐射东非乃至印度洋周边市场的区位优势。此次合作进一步完善了小鹏汽车在中东非市场的销售与服务 网络，为后续在非洲及其他新兴市场的拓展积累关键经验，持续推动智能出行生态的全球化落地。 ...

小鹏汽车-W(09868)涨超6%，截至发稿，涨5.72%，报80.45港元，成交额8.6亿港元。 消息面上，据小鹏汽车官微消息，近期，小鹏汽车于卡塔尔多哈隆重举行品牌上市发布会，标志着其正 式进军这一中东高端市场。本次发布会上，小鹏G9与小鹏G6联袂亮相，并预告即将推出小鹏P7+车 型，旨在为本地消费者提供更为丰富的智能出行选择。 此外，12月16日，小鹏汽车与毛里求斯知名经销商Axess Limited达成战略合作，标志着品牌正式进入这 一非洲东部重要市场。毛里求斯不仅是高端旅游目的地，也是连接非洲、亚洲与中东的区域枢纽，具备 辐射东非乃至印度洋周边市场的区位优势。此次合作进一步完善了小鹏汽车在中东非市场的销售与服务 网络，为后续在非洲及其他新兴市场的拓展积累关键经验，持续推动智能出行生态的全球化落地。 ...

Group 1 - The automotive stocks are experiencing a significant rise, with Xpeng Motors up 6.18% at HKD 80.75, Leap Motor up 5.33% at HKD 52.6, BYD up 4.75% at HKD 98.05, and Geely up 4.79% at HKD 17.71 [1] - A report from Founder Securities indicates that the central economic work conference and the Ministry of Finance have clarified the optimization of the "two new" policies, with multiple regions selecting enterprises for vehicle replacement programs [1] - Media reports suggest that the national subsidy will continue until 2026, with a maximum subsidy of CNY 30,000 per vehicle, focusing on phasing out old high-emission vehicles while enhancing subsidies for new energy vehicles and increasing the pure electric range threshold for hybrid models [1] Group 2 - The report notes that after the exit of replacement and upgrade subsidies in various regions, the industry has not seen a tail effect, and the pressure in the car market is expected to increase in Q1 2026 due to the gradual reduction of new energy vehicle purchase tax exemptions [1] - Positive signals are continuously released from the policy side, with the National Market Supervision Administration publishing compliance guidelines for automotive industry pricing behavior, leading to a response from companies like BYD and Xpeng, resulting in a slowdown in price competition and an improved competitive environment [1] - Some cities have begun deploying new national subsidy-related work, indicating that the industry may see the implementation of policy details and supplementary support, highlighting the bottom configuration value of leading automotive companies and the potential for policy-driven market improvement [1]