HK Stock Market Move | XPENG-W(09868) drops over 4% as September new vehicle deliveries slightly decline year-on-year, Q3 guidance below expectations.

XPENG-W(09868) dropped over 4%, down 4.38% as of press time, at HK$36.2, with a turnover of HK$80.1674 million. On the news front, XPENG delivered 41,256 new vehicles in September, down 0.78% year-on-year and up 5% month-on-month. From a full-year perspective, XPENG delivered a cumulative 284,267 new vehicles from January to September, down 9.24% year-on-year, remaining in an adjustment cycle of nine consecutive months of year-on-year decline. BOCOM INTL previously noted that XPENG's 3Q26 revenue guidance is RMB 21.723.4 billion, with a midpoint of RMB 22.55 billion, about 15% below market consensus. 4Q26 growth mainly depends on the volume ramp-up of the G9L in September, the MONA L05 in 4Q, and overseas deliveries of the L03.