Xpeng chairman and chief executive He Xiaopeng has raised his stake in the Chinese electric vehicle maker, buying 3.1 million Class A ordinary shares through his wholly owned company Galaxy Dynasty, the firm said in a Hong Kong Stock Exchange filing on Friday.
The shares were acquired on Aug. 20-21 at an average price of HK$80.49 each. Following the transaction, Galaxy Dynasty holds 3.1 million Class A shares and 1,419,922 American Depositary Shares (ADSs).
He also controls 327.7 million Class B shares and 2.2 million ADSs through Simplicity Holding, and 21 million Class B shares via Respect Holding, in addition to personally owning 1 million Class A shares. Altogether, his holdings represent 18.9% of the company’s issued share capital.
The latest move follows an earlier purchase in August 2023, when He bought 1 million Class A shares at an average price of HK$27.13, raising his stake to about 18.8%. Xpeng shares in Hong Kong had fallen 44% in the first eight months of 2023 but have rebounded strongly this year, gaining 80% amid rising vehicle deliveries.
The company reported a net loss of 480 million yuan ($66 million) in the second quarter, its lowest since the third quarter of 2020, down 62.8% year-on-year and 28% from the previous quarter, according to earnings released on Aug. 19. Xpeng’s shares closed 0.56% higher at HK$80.9 on Thursday, giving it a market capitalization of HK$154.2 billion.