Core Insights - The report from Daiwa indicates that Xiaopeng Motors experienced a strong growth in new car sales and technology services, leading to a year-on-year revenue increase of 102% to 20.4 billion yuan [1] - The gross margin reached 20.1%, an improvement of 4.8 percentage points compared to the same period last year and an increase of 2.8 percentage points from the previous quarter [1] - The net profit for the company was reported at 381 million yuan [1] - The company aims to achieve breakeven by the fourth quarter of 2025 [1] - Due to the continuous improvement in gross margin and enhanced competitiveness in the fields of autonomous taxi services and humanoid robots, Daiwa upgraded its rating from "Hold" to "Buy" and raised the target price for U.S. stocks from $24 to $29 [1]
大行评级丨大和：上调小鹏汽车目标价至29美元 评级升至“买入”