Alibaba plans to reduce its stake in Xiaopeng Motors by 25 million shares.
On December 15th local time, according to documents from the US Securities and Exchange Commission, Taobao China Holding Limited plans to sell 25 million shares of equity in Xiaopeng Motors (NYSE: XPEV; 09868. HK) for a total value of approximately $391 million.
In response, the relevant person in charge of Alibaba Group stated, "We have sold some of our shares in Xiaopeng based on our own capital management goals, reducing our shareholding from 10.2% to 7.5%. Xiaopeng is one of the leaders in China's electric vehicle industry, and we have established a strategic partnership with it. We believe in Xiaopeng's prospects and look forward to continued cooperation with the company."
Xiaopeng Motors is an electric vehicle manufacturing company jointly invested and founded by UC founder and former Alibaba Mobile Business Group President He Xiaopeng, YY founder Li Xueling, Cheetah Mobile CEO Fu Sheng, Tencent executive Wu Xiaoguang, and others in 2014. On August 27, 2020, Xiaopeng Motors was listed on the New York Stock Exchange. On July 7, 2021, Xiaopeng Motors was listed for trading on the Main Board of the Hong Kong Stock Exchange.
According to the prospectus of Xiaopeng Motors listing in Hong Kong, He Xiaopeng, co-founder, chairman and CEO of Xiaopeng Motors, and his affiliated companies are the controlling shareholders of Xiaopeng Motors, holding 21.75% of the shares, while Taobao China holds 11.9% of the shares, making it the second largest shareholder of Xiaopeng Motors.
On December 6th, Xiaopeng Motors announced that it had successfully issued 94.0793 million Class A common shares to Volkswagen Finance Luxembourg S.A., a subsidiary of Volkswagen, accounting for approximately 4.99% of Xiaopeng Motors' total issued and publicly traded share capital after the transaction was completed.
According to the announcement, the purchase price for each American depositary share in this transaction is $15, and the total price of the subscribed shares is approximately $706 million. After deducting related costs and expenses, Xiaopeng Automobile's net proceeds are approximately $705 million (approximately RMB 5 billion).
According to the financial report, Xiaopeng Automobile achieved a revenue of 8.53 billion yuan in the third quarter of this year, a year-on-year increase of 25% and a month on month increase of 68.5%; The net loss was 3.89 billion yuan, an increase of 63.6% year-on-year and 38.6% month on month; The gross profit margin is -2.7%, a decrease of 16.2 percentage points from the same period last year.
According to the latest delivery data, Xiaopeng Motors delivered a total of 20000 new cars in November, a year-on-year increase of 245%, of which 8750 were delivered by Xiaopeng G6; As of the end of November, the cumulative delivery volume of Xiaopeng Motors in 2023 was 121500 vehicles.
As of the close of the US stock market on the 15th, Xiaopeng fell 7.54% to $14.470 per share, with a total market value of $13.641 billion.