Group 1 - The core viewpoint of the article highlights that XPeng Motors reported a narrower loss in Q3, but its revenue guidance for Q4 fell short of market expectations, leading to a decline in stock price [1] - XPeng Motors' Q3 net loss attributable to shareholders narrowed to 381 million yuan, with adjusted losses at 150 million yuan, while total revenue reached 20.381 billion yuan, a year-on-year increase of 102% [1] - The company expects Q4 total revenue to be between 21.5 billion and 23 billion yuan, representing an increase of approximately 33.5% to 42.8% year-on-year, which is below market expectations [1] Group 2 - Vehicle delivery volume is projected to be between 125,000 and 132,000 units, reflecting a year-on-year increase of approximately 36.6% to 44.3% [1] - Following the earnings announcement, Citigroup downgraded XPeng Motors' target price, reducing it by 3.4% to $28.4 for US shares and by 3.7% to HK$110.6 for Hong Kong shares, while maintaining a positive outlook on the company's diversification growth potential for next year [1] - Citigroup also slightly lowered its sales forecast for the company in 2025 to align with the new guidance provided by XPeng Motors [1]
小鹏汽车：半日收跌9.69%，花旗下调目标价