Cash out 311 million in 4 days! Ideal Auto was greatly reduced by Meituan Wang Xing, and was once a key figure in Li Xiang
On September 19, according to the equity disclosure of the Hong Kong Stock Exchange, Wang Xing, CEO of Meituan and non-executive director of Li Auto, reduced his holdings in Li Auto for four consecutive days last week. From September 12 to 15, Wang Xing reduced his holdings by a total of 1,947,900 shares, with an average price of about HK$157.84-160.51, cashing out a total of about HK$311 million (about RMB290 million).
In fact, this is not the first time Wang Xing has reduced his holdings of ideal cars this year.
In March this year, Wang Xing also repeatedly reduced his holdings in Li Auto stocks. Specifically, from March 21 to March 30 this year, Wang Xing reduced his holdings of Li Auto Hong Kong stocks six times, with an average price of HK$89.50-97.81 per share, cashing out a total of about HK$128 million. At the same time, Wang Xing also reduced his holdings in Li Auto's US stock ADR (US stock depository receipts) three times, with the average price of US stocks ranging from US$23.05 to US$23.45, with a total reduction of US$14.07 million (about HK $110 million). The total amount of holdings reduced in the two weeks was about HK$420 million.
At that time, Li Auto responded to Wang Xing's reduction of holdings and said, "This transaction is a personal act, and the transaction accounts for a small part of his (Wang Xing's) total shareholding, and does not involve Meituan's shareholding." ”
You know, in the development process of ideal cars, Wang Xing is undoubtedly one of the key figures. As early as 2019, as an angel investor, Wang Xing led Li Auto's $530 million Series C financing, Wang Xing contributed $285 million, and Meituan's strategic investment department was also among the investors; in 2020, Li Auto received $550 million in Series D financing, of which $500 million came from Meituan's strategic investment department; Li Auto's IPO in the United States, Meituan subscribed $300 million, and Wang Xing subscribed $30 million.
It is worth noting that Li Auto's revenue in the first half of the year exceeded 40 billion yuan for the first time, reaching 47.44 billion yuan, exceeding the revenue of last year.
Li Auto said in its 2023 interim report that vehicle sales revenue increased significantly due to the increase in vehicle deliveries. At the beginning of this year, Li Auto's new family five-seat flagship SUVs, the Li L7 and Li L8 Air, have led the sales ranking of medium and large SUVs since their delivery, helping the company's half-year deliveries to surpass the deliveries of last year.
From the perspective of stock price performance, Li Auto fluctuated all the way up from around HK$77 at the beginning of this year, and rose to HK$185.50 per share in August this year.
Despite the recent stock price fluctuations, as of September 19, it closed at HK$150.30 per share, doubling its increase of 95.70% during the year.
With the performance of this year's ideal car all the way, Wang Xing has also made a lot of money.