On December 6th, Xiaopeng Motors (09868. HK) announced on the Hong Kong Stock Exchange that it had successfully issued 94.0793 million Class A ordinary 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 completion of the transaction. According to the announcement, the purchase price for each American depositary share in this transaction is $15 (calculated based on the exchange rate of HKD 7.8096 per share representing two Class A common shares and HKD 1 per share, equivalent to HKD 58.6 per share of Class A common shares). The total price of the subscribed shares is approximately $706 million. After deducting related costs and expenses, the net proceeds from Xiaopeng Motors are approximately $705 million (approximately RMB 5 billion).