UBS Starts XPeng Coverage at Neutral, Citing Robotics and Auto Weakness
UBS began covering XPeng’s Hong Kong shares with a Neutral rating and HK$47.00 target, saying robotics upside is largely priced in while the auto business faces competition and weak margins. XPeng commissioned IRON humanoid robot production lines in Guangzhou, with the first unit moving off the line. Dogotix reported net liabilities of about 447 million yuan and losses rising to 369 million yuan. Q2 revenue missed estimates and Q3 guidance trailed consensus, contributing to further share declines.