Xpeng (XPEV) Becomes 8th Most Traded in Hong Kong-Mainland Connect Debut

Xpeng Motors (NYSE: XPEV) became the 8th most traded stock in HK-Mainland connect on the company’s first day of inclusion.

Before the stock market opened today, the Shenzhen Stock Exchange announced that it had adjusted the Hong Kong-Mainland Stock Connect list to include XPeng Hong Kong shares. XPeng saw HK$765 million of turnover by mainland Chinese investors through the program, for a net buy of HK$762 million making it the most net bought stock by mainland investors in the Hong Kong-Shenzhen Stock Connect today.

According to Deutsche Bank analyst Edison Yu, XPeng's inclusion in the program comes about a week earlier than expected. Yu believes that the early inclusion should act as a tailwind for the stock.

"We continue to believe there is large appetite for EV exposure in the Mainland given accelerating penetration (>20% exiting 2021) and lack of high quality listed EV names (CATL is the de-facto standard with market cap of nearly 200bn USD). XPeng also provides exposure to autonomous/mobility optionality," Yu wrote.

By Michael Elkins | [email protected]

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