Lyon issued a report saying that it believes that the impact of revenue on Xpeng Motors-W (09868) has become more critical and a more accurate valuation indicator, so it changed the valuation method to a price-to-sales ratio and lowered the target price to 45 yuan, maintaining a “buy” rating.
Xpeng Motors-W (09868) Last year’s revenue increased by 28% year-on-year, and net loss widened to 9.14 billion yuan. As the automotive competitive landscape becomes more intense this year and price wars emerge, the company’s earnings forecasts for this year and next are cut accordingly.
