HK Hot Stock Analysis: XPeng Motors-W (09868.HK)

XPeng Motors-W (09868.HK) is listed on the Hong Kong Stock Exchange with a current price of HKD 75.40 (as of December 11, 2025, 02:33 UTC) and a market cap of approximately HKD 143.72B (~USD 18.3B) [0]. Key catalysts driving its hot stock status include: 1) Media reports on XPeng surpassing Tesla in speed to market and software offerings [0]; 2) Strong Q3 earnings led by models like the X9 [0]; and 3) The December 9 “Physical AI” roadmap announcement (including L4 autonomous cars, humanoid robots, and flying vehicles) [0]. Price trends show a slight downward movement from December 8 to 10 (HKD 78.00 → HKD 77.40 → HKD 76.20), with the current price down 1.05% from the previous close [0]. Trading volume has been around 10M shares per day, below the 20.55M average [0].

The convergence of short-term earnings strength and long-term innovation commitments (Physical AI) has likely boosted investor interest, making the stock a market focus. The slight price decline amid positive news may indicate profit-taking by short-term investors or market digestion of recent gains [0]. Below-average volume suggests mixed sentiment, with some investors taking profits while others remain attracted to the company’s growth prospects [0].

：China’s EV market faces fierce competition; XPeng still has negative EPS (P/E ratio of -30.40); recent price declines may signal a sentiment shift [0].
：Continued technological innovation (L4 autonomy, flying vehicles) could attract long-term investors; strong Q3 earnings demonstrate operational progress [0].

XPeng Motors-W (09868.HK) is a hot HKEX stock driven by technological leadership claims, strong quarterly performance, and a forward-looking innovation roadmap. The stock exhibits a slight downward trend with below-average volume, reflecting mixed market sentiment. Investors should weigh the growth opportunities from innovation against risks such as intense competition and negative profitability [0].