On May 23, China International Capital Corporation (CICC) issued a report uplifting its sales projections for XPeng Motors (09868.HK) by 30,000 to 35,000 units for both the current and next fiscal years. This adjustment underscores the burgeoning potential of the Mona sub-brand and the anticipated introduction of new models in the latter half of the year. The report highlighted that XPeng Motors' enhanced G6/G9 models, the Mona03 smart variant, and the forthcoming G7 will serve as pivotal catalysts for the company's growth trajectory this year. Consequently, CICC maintained its "outperform" rating for XPeng Motors and elevated its target price for the company's US stock by 4.5%, from USD 24.5 to USD 25.6.

Furthermore, the report indicated that XPeng Motors' first-quarter performance this year is progressing as expected, marked by enhanced operational efficiency and a notable increase in profit margins to 15.6%. Management reaffirmed its commitment to achieving a positive net profit by the fourth quarter of 2025. CICC expressed confidence in XPeng Motors' substantial production growth, anticipating that the gross margin on new vehicle sales will gradually improve and stabilize at approximately 12-15% by 2025.