Co-movers

daily closes · 500dMethod

Moved together

ZLABwithXPEV

×0.33co-movement · XPEV on ZLAB · 500d

r 0.31scale to r 0.75

Shared co-movers2with ZLABwith XPEV

NIONIO Inc.r 0.30r 0.59

JDJD.com, Inc.r 0.28r 0.48

ZLAB, solidXPEV, hatched× = co-movement · βr = correlationBar = r to r 0.75Order: weaker of A and BSource: daily closes

ZLABZai Lab Ltd

22.09−1.21%· post 22.10

Mkt cap$2.5BRevenue$106MQ2 FY26Revenue$460MFY25

XPEVXpeng Inc.

9.03−1.69%· post 9.00

ClosedOct 30 '26

Mkt cap$8.6BRevenue—Revenue—

vs

Compare

ClosedOct 30 '26

ZLABZai Lab Ltd

vs

XPEVXpeng Inc.

22.09−1.21%post 22.10

Price

9.03−1.69%post 9.00

$2.5B

Mkt cap

$8.6B

Q2 FY26$106M

Revenue

—

FY25$460M

Revenue

—

ZLAB compared with XPEV: revenue, margins and what each company keeps, and the suppliers and customers both name