Xpeng’s Chairman and CEO, He Xiaopeng, has made a significant move to bolster investor confidence by increasing his stake in the company. As Xpeng’s controlling shareholder, He purchased 1 million Class A ordinary shares on the Hong Kong stock market between August 21-23, at an average price of HK$27.13 per share, according to an announcement made today by the Hong Kong Stock Exchange.
In addition to this purchase, He informed Xpeng of his intention to further increase his shareholding in the company. Following these transactions, his ownership in Xpeng has risen to approximately 18.8%.
Xpeng’s board of directors interprets this acquisition as a strong signal of He’s confidence in the company’s future and his long-term commitment to its growth, as outlined in the announcement.
Xpeng, like many of its local competitors, has seen its shares decline this year amid broader economic challenges in China. As of the most recent close, Xpeng’s shares were trading at HK$27.15 in Hong Kong and $7.01 in the U.S., both reflecting a roughly 50% drop for the year.
Despite these challenges, Xpeng has shown some positive momentum in its vehicle deliveries. In July, the company delivered 11,145 vehicles, marking a 1.24% increase year-on-year and a 4.47% rise from June. This was the fifth consecutive month of month-over-month growth, though deliveries are still down significantly from the over 20,000 units seen monthly in the fourth quarter of the previous year.
For the January-July period, Xpeng delivered 63,173 vehicles, a 20.46% increase compared to the same period last year.
Xpeng is also set to launch the first model of its new Mona lineup, the M03, on August 27. The M03 will be the company’s most affordable vehicle, with a starting price of no more than $19,030, as announced earlier this month.
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