XPeng-W (09868.HK) Hong Kong Hot Stock Analysis

As a Hong Kong hot stock, XPeng-W (09868.HK)'s popularity mainly stems from multiple fundamental and event-driven factors. Sales data shows that the company’s November sales increased by 19% year-on-year, and YTD sales increased by 156% [0], showing strong growth momentum. At the same time, the company’s launch of AI and robotics business layout at Tech Day and the upcoming VLA 2.0 pilot further boosted market expectations for its future growth potential.

From the perspective of stock price performance, XPeng’s US-listed ADS (XPEV) closed at $21.35 as of December 2, 2025 [0]. In terms of short-term price fluctuations, there was a 2.2% drop in 1 day, a 0.7% drop in 5 days, and a 9.1% drop in 1 month, with a trading volume of 7.43 million shares, lower than the average trading volume of 11.04 million shares [0]. The price trend of Hong Kong-listed 09868.HK is highly correlated with that of US-listed XPEV, and its market performance can refer to the dynamics of XPEV.

1. Diversified Growth Engines
   : XPeng Motors is expanding from a traditional EV manufacturer to the AI and robotics fields; this strategic transformation helps enhance the company’s long-term competitiveness and valuation space [0].
2. Divided Market Sentiment
   : Although sales growth and business expansion have brought positive sentiment, investors still have concerns about factors such as whether the company can meet Q4 sales targets, valuation levels (currently negative P/E ratio), and industry competition [0].
3. Technology Innovation Driven
   : The upcoming launch of the VLA 2.0 pilot shows the company’s continuous investment in autonomous driving technology, which may become an important catalyst for future stock prices [0].

• Opportunities
  : Continuous sales growth, AI and robotics business layout, market expansion opportunities brought by technological innovation, and the consensus target price of $29.00 (XPEV) given by analysts [0] provide upside potential for the company’s stock price.
• Risks
  : Valuation pressure from negative P/E ratio, risks of meeting Q4 sales targets, fierce competitive environment in the industry, and past operational challenges (such as recall incidents) [0] may exert downward pressure on the stock price.

XPeng-W (09868.HK) has recently become a Hong Kong hot stock, mainly due to sales growth and business transformation. The US ADS price shows short-term fluctuations, and market sentiment is divided. Investors need to pay attention to changes in the company’s fundamentals, technological innovation progress, and industry competition dynamics to comprehensively evaluate its investment value.