XPeng Announces Inclusion of Its Shares in the Shenzhen-Hong Kong Stock Connect Program
GUANGZHOU, China--(BUSINESS WIRE)-- XPeng Inc. (“XPeng” or the “Company,” NYSE: XPEV, HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced that the Company’s Ordinary Shares, which trade on The Stock Exchange of Hong Kong Limited (“HKEX”), are included in the Shenzhen-Hong Kong Stock Connect programs, effective on February 09, 2022, according to the announcement issued by the Shenzhen Stock Exchange. (https://www.szse.cn/disclosure/notice/t20220209_591165.html)
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XPENG P7 (Photo: Business Wire)
Under the Stock Connect programs, qualified Mainland Chinese investors can access eligible Hong Kong shares (Southbound), subject to specified daily quotas.
“We are pleased to be included in the Stock Connect programs, which enable qualified Mainland Chinese investors to have direct access to our shares through the Stock Exchanges in the Mainland. The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our exciting growth story,” said Brian Gu, Vice Chairman and President of the Company.
XPeng’s inclusion in the Stock Connect programs marks another important milestone for the Company. It is the first smart EV companies listed in Hong Kong to be included in the Stock Connect program. It was also the first smart EV company to achieve a dual-primary listing status on both the New York Stock Exchange and the Hong Kong Stock Exchange.
Hang Seng Indexes Company Limited announced on 8 July 2021 that XPeng meets the Fast Entry Rule of various indexes, and would be included as a constituent of several indexes, including the Hang Seng Composite Industry Index, the Hang Seng Composite LargeCap Index and the Hang Seng Consumer Goods & Services Index from 21 July 2021. Inclusion in the Hang Seng Composite Index is a key requirement for the Stock Connect scheme.
The Company’s shares, began trading on the Main Board of the HKEX on July 7, 2021, are fully fungible with the Company’s American Depositary Shares on the New York Stock Exchange (NYSE).
About the Stock Connect Programs
The Stock Connect programs are a unique collaboration between the Hong Kong, Shanghai and Shenzhen stock exchanges. The Stock Connects allow international and mainland Chinese investors to trade securities in each other's markets through the trading and clearing facilities of the participating exchanges. The Stock Connects established a two-way trading link between stock exchanges in mainland China and Hong Kong. The Stock Connects allow qualified mainland China investors to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible A shares (Northbound), subject to specified daily quotas.
About XPeng Inc.
XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to explore and drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are manufactured at its plant in Zhaoqing, Guangdong province. For more information, please visit https://en.xiaopeng.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPeng’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPeng’s goals and strategies; XPeng’s expansion plans; XPeng’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPeng’s expectations regarding demand for, and market acceptance of, its products and services; XPeng’s expectations regarding its relationships with customers, contract manufacturers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPeng’s filings with the SEC. All information provided in this press release is as of the date of this press release, and XPeng does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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Source: XPeng Inc.