A total of more than 500 million Hong Kong dollars were cashed out! Meituan Wang Xing once again reduced his holdings in Li Auto, and Ideal officially responded
Reporter: Sun Lei Editor: Pei Jianru
Meituan founder and CEO Wang Xing has once again reduced his stake in Li Auto.
On April 3, it was reported that Wang Xing reduced his holdings of Li Auto for several days, cashing out a total of more than 500 million Hong Kong dollars. According to the disclosure of interests of the Stock Exchange, Wang Xing sold 950,000 shares, 1,413,900 shares and 1,798,400 ordinary shares of Li Auto for three consecutive days from March 26 to March 28, totaling 4,162,300 shares, with an average price of HK$1,221,665, HK$1,185,752 and HK$1,219,197 per share, respectively, involving nearly HK$503 million, and the shareholding ratio decreased from 21.76% to 21.53%.
In this regard, Li Auto told the "Daily Economic News" reporter: "Recently, Wang Xing sold shares during the window opening, and the specific number of shares is subject to the filing of Wang Xing's declaration of interests submitted by the Hong Kong Stock Exchange." The transaction of shares is a personal act, and the transaction accounts for a small part of his total shareholding, and does not involve the part of Meituan's shareholding. ”
Image source: Photo by reporter Zhang Si (data map)
In fact, as early as September 12 to September 15, 2023, Wang Xing reduced his holdings of 1.9479 million Li Auto Hong Kong stocks, with an average price of HK$157.84~HK$160.51 per share, with a total of about HK$311 million in cash. After this reduction, Wang Xing still holds 384 million shares of Li Auto shares, and the shareholding ratio has decreased from 21.9% before this reduction to 21.79%.
At that time, Li Auto said about Wang Xing's reduction: "This transaction of shares is a personal act, and the transaction accounts for a small part of his total shareholding, which does not involve the part of Meituan's shareholding, and the specific shareholding information shall be subject to the annual report after the company's annual report is issued." ”
Earlier, from March 21 to March 30, 2023, Wang Xing reduced his holdings of Li Auto's Hong Kong stocks 6 times, with a total reduction of about HK $310 million. At the same time, Wang Xing also reduced his holdings of Li Auto's U.S. stock ADR (U.S. stock depositary receipts) three times, with a total reduction of about $14.07 million.
It is understood that Wang Xing is one of the key figures in the development process of Li Auto, and he has injected capital into Li Auto many times. In August 2019, Li Auto announced the completion of a $530 million Series C financing, led by Wang Xing, led by Wang Xing and nearly $300 million, and Li Xiang also invested nearly $100 million, with a post-investment valuation of about $2.93 billion.
In June 2020, Li Auto received $550 million in Series D financing, of which $500 million came from Meituan's strategic investment department, and Li Xiang also invested $30 million, with a post-investment valuation of $4.05 billion.
In July 2020, Li Auto went public in the United States with an offering price of US$11.50 per share, raising US$1.47 billion. It is worth mentioning that Wang Xing and Meituan continued to participate in the investment as cornerstone investors, with Wang Xing subscribing for US$30 million and Meituan subscribing for US$300 million.
Later, in December 2020, Li Auto issued an additional 47 million ADS (American Depositary Shares), and Wang Xing participated in the subscription of 20 million US dollars again.
In addition, Wang Xing also frequently "waved the flag" for Li Auto, and he repeatedly "brought goods" for Li Auto on social platforms, and said that Li Auto's market value after listing exceeded 100 billion US dollars. It is worth mentioning that as of the close of trading on April 2, Eastern time, Li Auto's U.S. stock price was $31.04 per share, an increase of 1.37%, with a market value of $32.934 billion.
Image source: Photo by reporter Zhang Jian (data map)
Judging from Wang Xing's speech on social platforms, he is very optimistic about the development of China's electric vehicle companies, and is even more optimistic about Li Auto.
According to the financial report data, Li Auto will achieve revenue of 123.85 billion yuan in 2023, a year-on-year increase of 173.5%. This means that Li Auto has become the first new power car company in China with an annual revenue of more than 100 billion yuan. At the same time, Li Auto achieved annual profitability for the first time, becoming the third new energy vehicle company in the world to achieve profitability after Tesla and BYD. In addition, the financial report also shows that Li Auto's net profit in 2023 will be 11.81 billion yuan, making up for the accumulated losses of the previous five years.
In terms of sales, in March this year, Li Auto continued to lead the new force delivery ranking with nearly 29,000 deliveries, a year-on-year increase of 39.2%, and in the first quarter of this year, Li Auto delivered more than 80,000 new vehicles, a year-on-year increase of 52.9%. So far, Li Auto has delivered a total of about 713,800 vehicles, becoming the first Chinese new power car manufacturer to achieve 700,000 deliveries.
National Business Daily