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    XPEV   US98422D1054

XPENG INC.

(XPEV)
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Electric Car Maker XPeng Gets Approval for Hong Kong IPO

06/23/2021 | 01:34am EDT

By P.R. Venkat

Electric car maker XPeng Inc. has secured approval for an initial public offering from Hong Kong regulators, making it the latest U.S.-listed Chinese company looking toward its home market, a person familiar with the situation said.

XPeng, which is already listed on the NYSE stock exchange with a market capitalization of over US$30 billion, is planning to raise up to US$2 billion in the offering, the person said.

The Guangzhou-based company is planning to issue new shares in the offering, which will allow it have the U.S. as well as Hong Kong as its primary listing venue.

Xpeng's plan to issue new shares is also aimed at tapping the Northbound stock connect market that will help it reach qualified investors in mainland China, the person said.

The company last year raised US$2.5 billion in an offering on the NYSE, joining a list of U.S.-listed Chinese peers such as NIO Inc. and Li Auto Inc.

Xpeng's planned IPO is the latest in a string of multi-billion-dollar deals happening in Hong Kong, many of which involve Chinese technology startups or other companies catering to China's increasingly affluent consumers.

Earlier this year, Tencent Holdings Ltd.-backed Kuaishou Technology, which competes with ByteDance Ltd., raised US$5.4 billion in an IPO. Other companies include Baidu Inc., which is listed on the Nasdaq and raised nearly US$3.1 billion in its Hong Kong offering.

Write to P.R. Venkat at venkat.pr@wsj.com

Corrections & Amplifications

This item was corrected at 0834 GMT to reflect that XPeng was planning to raise up to US$2 billion in the offering. The original version incorrectly said the company was planning to raise at least $2 billion in the second paragraph.

(END) Dow Jones Newswires

06-23-21 0334ET

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Financials
Sales 2021 15 074 M 2 333 M 2 333 M
Net income 2021 -3 259 M -504 M -504 M
Net cash 2021 26 240 M 4 061 M 4 061 M
P/E ratio 2021 -77,3x
Yield 2021 -
Capitalization 223 B 34 527 M 34 526 M
EV / Sales 2021 13,1x
EV / Sales 2022 7,20x
Nbr of Employees 5 084
Free-Float 59,9%
Chart XPENG INC.
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XPeng Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends XPENG INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 261,86 CNY
Average target price 306,35 CNY
Spread / Average Target 17,0%
EPS Revisions
Managers and Directors
Xiao Peng He Chairman & Chief Executive Officer
Heng Xia President & Director
Hong Di Gu Vice Chairman & President
Ji Han Xu Vice President-Automotive Research & Development
Qin Liu Independent Director
Sector and Competitors
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XPENG INC.-5.37%34 527
TESLA, INC.-2.62%680 338
NIO INC.-8.33%73 209
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NIKOLA CORPORATION-22.21%4 712