Core Viewpoint - Xiaopeng Motors focuses on long-term investment in intelligent technology, betting on the future of automobiles as software-defined smart terminals [1] Group 1: Profit Logic - Future profits are expected to come from software, with Xiaopeng investing heavily in intelligent driving (XNGP) to achieve high-margin software revenue similar to Apple or Tesla [2] - High brand premium potential exists as an exceptional intelligent driving experience can lead to higher vehicle prices and increased per-unit profits [3] - B2B revenue from technology licensing, such as collaboration with Volkswagen, creates a new business model that generates high-margin service fees, directly monetizing significant R&D investments [4] Group 2: Long-term Strategy - A strong technological moat is anticipated if Xiaopeng succeeds in high-level autonomous driving, potentially becoming the industry standard with unmatched bargaining power and longevity [5] - The ability to build a comprehensive smart ecosystem around intelligence, extending from vehicles to robots and flying cars, indicates limitless commercial boundaries and long-term value [6] - Xiaopeng is pursuing a challenging, capital-intensive path that, if successful, promises substantial returns, aiming for a "winner-takes-all" future [7]