XPeng

Few automotive players in Asia Pacific match the executional depth of XPeng. From Guangzhou, the group manages a workforce of approximately 15k and generates close to $5B in revenue, while steadily widening the gap with regional peers.

The group's regional balance sheet allows it to invest counter-cyclically, an advantage few competitors can match in the current rate environment.

“XPeng is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Few catalysts on the horizon look bearish; the central scenario is a continued, controlled compounding story.