Business Wire

XPeng Inc. Launches Hong Kong Public Offering

Share

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced the launch of its Hong Kong public offering (the “Hong Kong Public Offering”), which forms part of the global offering (the “Global Offering”) of 85,000,000 new Class A ordinary shares of the Company (the “Offer Shares”) and listing of its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) under the stock code “9868” (the “Proposed Listing”).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210624005620/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

XPeng P7 Wing edition (Photo: Business Wire)

The Company’s American depositary shares (the “ADSs”), each representing two Class A ordinary shares of the Company, will continue to be listed and traded on the New York Stock Exchange (“NYSE”). The Proposed Listing is a dual-primary listing of the Class A ordinary shares of the Company on the Hong Kong Stock Exchange. Investors in the Global Offering will only be able to purchase Class A ordinary shares and will not be able to take delivery of ADSs. Upon the Proposed Listing, the Class A ordinary shares listed on the Hong Kong Stock Exchange will be convertible with the ADSs listed on the NYSE.

The Global Offering initially comprises 4,250,000 new Class A ordinary shares under the Hong Kong Public Offering and 80,750,000 new Class A ordinary shares for the international offering (the “International Offering”), representing approximately 5% and 95%, respectively, of the total number of Offer Shares in the Global Offering, subject to reallocation and over-allotment. Subject to the level of oversubscription in the Hong Kong Public Offering and pursuant to the clawback mechanism as described in the Hong Kong prospectus, the total number of Offer Shares available under the Hong Kong Public Offering could be adjusted to up to a maximum of 17,000,000 new Class A ordinary shares, representing 20% of the Offer Shares initially available under the Global Offering. In addition, the Company expects to grant the international underwriters an over-allotment option to require the Company to issue up to an additional 12,750,000 new Class A ordinary shares in the International Offering, representing no more than 15% of the total number of Offer Shares initially available under the Global Offering.

The offer price for the Hong Kong Public Offering (the “Hong Kong Offer Price”) will be not more than HK$180.00 per share (the “Maximum Offer Price”). The offer price for the International Offering tranche of the Global Offering (the “International Offer Price”) may be set higher than the Maximum Offer Price. The Company expects to set the International Offer Price on or about June 30, 2021, Hong Kong time, by taking into consideration, among other factors, the closing price of the ADSs on the NYSE on the last trading day on or before June 30, 2021, Hong Kong time, and investor demand during the marketing process. The final Hong Kong Offer Price will be set at the lower of the final International Offer Price and the Maximum Offer Price of HK$180.00 per share. The Offer Shares will be traded in board lots of 100 Class A ordinary shares.

The Company plans to use the net proceeds from the Global Offering for expansion of its product portfolio and development of more advanced technologies; acceleration of its business expansion, by enhancing brand recognition, acquiring customers through omni-channel marketing strategies and expanding its sales and service touch points both domestically and internationally; enhancement of production capability, including expansion of capacity, upgrade of manufacturing facilities and development of manufacturing technologies; and general corporate purposes, including working capital needs.

******

Fully Electronic Application Process for the Hong Kong Public Offering

The Company has decided to adopt a fully electronic application process for the Hong Kong Public Offering, with no printed copies of prospectuses or application forms. A fully electronic application process is consistent with the way in which the Company’s stakeholders engage and interact with each other and the Company. The Company believes such method will also help to mitigate the environmental impact of printing and minimize the use of natural resources, among others. The prospectus will be made available at the website of the Hong Kong Stock Exchange at www.hkexnews.hk under the “HKEXnews > New Listings > New Listing Information” section and the Company’s website at www.xiaopeng.com.

The Company encourages applicants for the Hong Kong Public Offering to view its prospectus and apply online through the HK eIPO White Form service in the IPO App (which can be downloaded by searching “IPO App” in App Store or Google Play or downloaded at www.hkeipo.hk/IPOApp or www.tricorglobal.com/IPOApp) or at www.hkeipo.hk, or through the CCASS EIPO service (directly or through their brokers or custodians). The Hong Kong Public Offering will commence at 9:00 a.m. on Friday, June 25, 2021 Hong Kong time and will close at 12:00 noon on Wednesday, June 30, 2021 Hong Kong time.

Potential applicants may call the enquiry hotline of Tricor Investor Services Limited if they have any questions about making applications in the Hong Kong Public Offering. The hotline number is +852 3907 7333 and will be open from 9:00 a.m. to 9:00 p.m. on Friday, June 25, 2021, Monday, June 28, 2021 and Tuesday, June 29, 2021, from 9:00 a.m. to 6:00 p.m. on Saturday, June 26, 2021 and from 9:00 a.m. to 12:00 noon on Wednesday, June 30, 2021 Hong Kong time.

******

J.P. Morgan Securities (Far East) Limited and Merrill Lynch (Asia Pacific) Limited are the Joint Sponsors of the listing of the Offer Shares on the Hong Kong Stock Exchange. J.P. Morgan Securities (Asia Pacific) Limited, Merrill Lynch (Asia Pacific) Limited, Citigroup Global Markets Asia Limited and CLSA Limited are the Joint Global Coordinators of the Global Offering.

The Company’s registration statement on Form F-1 relating to the International Offering, which contains a preliminary prospectus, is available at the SEC’s website at www.sec.gov. The registration statement has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the preliminary prospectus relating to the offering may also be obtained from J.P. Morgan Securities LLC, by telephone at +1 (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; and BofA Securities, Inc., by telephone at +1 (800) 294-1322, or by email at dg.prospectus_requests@bofa.com.

The price of the Offer Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). The details of the intended stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) will be contained in the prospectus of the Company dated June 25, 2021.

The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

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.

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.

Important Disclaimers

  1. The proposed Global Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Global Offering may be completed, or as to the actual size or terms of the Global Offering.
  2. This press release is for information purposes only and does not constitute or include any recommendation or invitation or offer (nor is calculated to invite such a recommendation, offer or invitation) by any person for acquisition, purchase or subscription of the securities of the Company nor does it intend to act as a recommendation of the sale of securities or any invitation, solicitation or offer for acquisition, purchase or subscription of securities in any jurisdiction. This press release should accordingly not amount an advertisement or invitation within the meaning of section 103(1) of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) or a prospectus or an extract from or abridged version of a prospectus (including within the meaning of sections 2 and 38B, respectively of the Companies (Winding Up and Miscellaneous Provisions) Ordinance). This press release has not been reviewed or approved by The Stock Exchange of Hong Kong Limited or the Securities and Futures Commission of Hong Kong. Investors should read the prospectus of the Company for detailed information about the Company and the proposed offering before deciding whether or not to purchase any securities of the Company. An application to subscribe for the shares referred to in this press release by any persons shall be made solely based on the prospectus and the application forms to be issued by the Company on June 25, 2021.
  3. No application for the shares of the Company should be made by any person nor would such application be accepted without the completion of a formal application form or other application procedure that is issued with or in respect of the prospectus.
  4. The directors of the Company collectively and individually accept full responsibility for the accuracy of the information contained in this press release and confirm, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts the omission of which would make any statement herein misleading.

This press release is issued by Wonderful Sky Financial Group Ltd. on behalf of XPeng Inc.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For Investor Enquiries:
IR Department
XPeng Inc.
Email: ir@xiaopeng.com
Jenny Cai
The Piacente Group
Tel: +1 212-481-2050 / +86-10-6508-0677
Email: xpeng@tpg-ir.com

For Media Enquiries:
Marie Cheung
XPeng Inc.
Tel: +852 9750 5170 / +86 1550 7577 546
Email: mariecheung@xiaopeng.com

Media Relations
For further information, please contact:
Wonderful Sky Financial Group Ltd.
Angie Li/ Jerry Lou/Cici Zhu
Tel: +852 3970 2273 / +852 3970 2157 / +852 3977 1854
Email: angieliy@wsfg.hk / jerrylouzh@wsfg.hk / CiciZhuX@wsfg.hk

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Deel, the Leading Platform for Global Hiring and Payments, Acquires Zeitgold to Strengthen Payroll & AI Offerings4.8.2021 09:06:00 CEST | Press release

Deel, the market leader in the global payroll and compliance space, announced today that it had joined forces with Zeitgold to fuel international growth and enhance the depth and breadth of its product offerings. This acquisition marks a significant milestone for Deel as the company continues to scale, adding thousands of customers as working and hiring practices continue to transform rapidly. Deel is adding a full line of products through this acquisition to improve their customer experience further and provide them with the right solutions to scale internationally. Deel enables businesses to hire anyone, anywhere, in a compliant manner. With Deel, hiring and onboarding international employees or contractors takes under 5 minutes, with no local entity required. Businesses can also pay their teams in 120+ currencies with just a click. In April 2021, Deel raised $156 million in Series C funding at a $1.25 billion valuation. With their new funding, Deel announced plans to continue intern

SES H1 2021 Results4.8.2021 07:30:00 CEST | Press release

SES S.A. announces half year financial results for the six months ended 30 June 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803006193/en/ SES H1 2021 Results (Photo: Business Wire) Solid H1 performance delivering revenue of €875 million and Adjusted EBITDA(1) of €544 million Improving trajectory in Video to -3.9% YOY(2,3) in H1 2021 from -8.0% YOY(2,3) in FY 2020 Resilient Networks performance, flat YOY(2,3), in a COVID impacted environment with strong prospects for future growth 5% YOY(3) reduction in recurring Operating Expenses supporting higher YOY Adjusted EBITDA margin (of 62%) 19% YOY net interest expense reduction contributing to 35% YOY growth in Adjusted Net Profit of €152 million Solid cash flow generation and financial discipline supporting leverage ratio(4) of 3.3 times at 30 June 2021 2021 Revenue and improved EBITDA outlook on track Over 90% of 2021 revenue outlook (€1,760-1,820 million(5)) already

Highly Anticipated Mobile RPG KonoSuba: Fantastic Days Launches August 194.8.2021 07:00:00 CEST | Press release

Today, leading game publisher Nexon announced the free-to-play mobile RPG KonoSuba: Fantastic Days will be launching globally on August 19 with an online Showcase Event. Already a massive success in Japan, fans around the rest of the globe are highly anticipating the new release after the character-collection RPG reached one million pre-registrations last month. Fans can still pre-register today at konosuba.nexon.com and participate in a limited-time giveaway. Entrants will have the chance to win Razer Hammerhead True Wireless Earbuds and Megumin or Aqua figurines. Winners will be announced on the official twitter account of KonoSuba: Fantastic Days@playkonosuba. Based on the hit comedy anime series airing on Crunchyroll and HBO Max, KonoSuba: Fantastic Days focuses on a high school student reincarnated to a fantasy world, where he is joined by a useless goddess, an explosion fanatic, and an unhinged crusader to fight the villainous Devil King. Following the original storyline, charact

Bentley Systems Announces Seequent’s Acquisition of Imago3.8.2021 22:14:00 CEST | Press release

Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that its Seequent business unit has acquired Imago Inc, a developer of cloud-based software for the capture and management of geoscientific imagery. The acquisition will expand Seequent’s technology solutions portfolio while boosting cloud capabilities to help geoscientists and engineers solve earth, environment, and energy challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803006032/en/ Imago establishes a consistent process for capturing high-quality images, which integrate with existing workflows and allow the application of machine learning. Imago instantly displays machine learning insights together with images during interpretation and modeling. Imago’s on-screen masking and classification tools export data to train models. The Imago Cloud library of geology images provides rich information that supp

Riskified Ltd. Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares3.8.2021 22:10:00 CEST | Press release

Riskified Ltd. (“Riskified”), a fraud management platform enabling frictionless eCommerce, announced the closing of its initial public offering of 20,125,000 Class A ordinary shares on August 2, 2021, including the exercise in full by the underwriters of their option to purchase 2,625,000 additional shares of Class A ordinary shares, at a price of $21.00 per Class A ordinary share. The offering consisted of 19,925,000 Class A ordinary shares offered by Riskified and 200,000 Class A ordinary shares to be sold by one of Riskified’s existing shareholders. Riskified will not receive any proceeds from the sale of the shares by the selling shareholder. The gross proceeds to Riskified, before deducting underwriting discounts and commissions and offering expenses, were approximately $418 million. The Class A ordinary shares began trading on the New York Stock Exchange on July 29, 2021 under the ticker symbol “RSKD”. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Credit Suisse Securiti

Andersen Global Expands into Puerto Rico with San Juan-Based Law Firm3.8.2021 15:30:00 CEST | Press release

Andersen Global extends its reach into the Puerto Rican market with San Juan-based law firm Casillas, Santiago & Torres, LLC (CST Law). Founded in 2011, CST Law is a full-service firm focusing on business and commercial law with capabilities in corporate, tax, commercial and employment law litigation, real estate, immigration, labor and employment law, employee benefits and government affairs. The firm covers a variety of industries such as retail, wholesale, real estate, manufacturing, tourism, financial services, technology, telecommunications and construction, providing legal services to a range of clients including major multinational companies. “Our firm has built long-lasting relationships with our clients through our commitment to transparency and quality of work we provide,” said Managing Partner Luis L. Torres. “As our clients’ operations continue to expand into multiple jurisdictions, their need for integrated and seamless services also increases. Our collaboration with Ander

IDEMIA Top Leader in NIST Flight Boarding Simulation Showcasing High Accuracy of Algorithms3.8.2021 15:30:00 CEST | Press release

IDEMIA, the global leader in augmented identity, announced today that the company ranked second for passenger identification in the latest testing by the National Institute of Standards (NIST), confirming that IDEMIA’s facial recognition technology and algorithms are among the most accurate, fair and consistent in market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210803005333/en/ Credits : IDEMIA The test focuses on ‘Identification for Paperless Travel and Immigration’ and is part of the ongoing Facial Recognition Vendor Test (FRVT) managed by NIST. The exercise simulated departing flights, populating galleries with photos of 420 arriving travelers at the airport, then measuring accuracy by running searches of photos at departure. IDEMIA’s technology conducted 536 simulated aircraft boardings, without experiencing a single false negative, which translates to a secure and frictionless boarding experience for passengers.

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom