XPeng to Join Hang Seng Composite Index
XPeng Inc. (NYSE: XPEV, HKEX: 9868.HK), a leading Chinese smart electric vehicle company, will be added to the Hang Seng Composite Index after market close on July 20, 2021. This inclusion is a result of meeting the Fast Entry Rule, effective July 21, 2021. XPeng will also join the Hang Seng Composite Industry Index - Consumer Discretionary and several other indices. This milestone marks XPeng as the first Smart EV company dual-listed on NYSE and HKEX, enhancing capital access and diversifying its investor base.
- Inclusion in Hang Seng Composite Index enhances visibility among investors.
- Dual-primary listing expands access to capital and diversifies investor base.
- First dual-primary listing of a Chinese company on HKEX since July 2018.
- None.
XPeng Inc. (“XPeng” or the “Company”) (NYSE: XPEV, HKEX: 9868.HK), a leading Chinese smart electric vehicle (“Smart EV”) company, will be added to Hang Seng Composite Index after market close on 20 July 2021.
XPeng P7 in Hong Kong (Photo: Business Wire)
Hang Seng Indexes Company Limited announced on 8 July 2021 that XPeng Inc. meets the Fast Entry Rule of various indexes, and will be added to the Hang Seng Composite Index after market close on 20 July 2021. All changes will come into effect on 21 July 2021.
XPeng will also be added to the Hang Seng Composite Industry Index - Consumer Discretionary, as well as the Hang Seng Composite LargeCap Index, the Hang Seng Composite LargeCap & MidCap Index, and the Hang Seng Consumer Goods & Services Index.
The Company’s shares began trading on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) on July 7, 2021 under the stock code “9868”. XPeng’s HKEX-listed shares will be fully fungible with the Company’s American depositary shares on the New York Stock Exchange (NYSE).
XPeng’s listing on the HKEX marks an important milestone for the Company and the electric vehicle sector. Now XPeng is the world’s first Smart EV company listed on both the NYSE and HKEX, two of the leading stock exchanges in the world, constituting the first dual-primary listing of a Chinese company on the HKEX since July 2018.
“As a front runner in China’s Smart EV industry, we are delighted to be included in the Hang Seng Composite Index,” said Dr. Brian Gu, XPeng Vice Chairman and President. “Inclusion in the Hang Seng Composite Index and the primary listing status in Hong Kong are the key requirements for the Stock Connect scheme.”
This dual-primary listing not only broadens the Company’s access to capital, diversifying its investor base, but also fulfills its long-term strategic objective to be listed in its home region, with direct access to China-based investors, who are likely to be XPeng’s customers. The Stock Connect scheme is the landmark mutual market access programme linking the Hong Kong and Mainland China equity markets.
“We will focus on our strategic roadmap to achieve sustainable growth and maximize shareholder value in the long term,” Dr. Gu added.
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 in China. Its mission is to 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 offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.
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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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FAQ
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