Ideal Car’s Response to Wang Xing’s Reduction of Holdings Personal Behavior Not Involving Meituan’s Equity Stake

Ideal Car's response to Wang Xing's reduction of holdings is unrelated to Meituan's equity stake

【Phoneauto News】Today, Phoneauto noticed that according to the information publicly available on the Hong Kong Stock Exchange website, Wang Xing, CEO of Meituan and non-executive director of Li Auto, recently reduced his holdings of Li Auto stock. Between September 12th and 15th, Wang Xing sold a total of 1.9479 million shares of Li Auto, with an average price per share ranging from HKD 157.84 to HKD 160.51, totaling approximately HKD 311 million. Li Auto has responded to this situation.

In response to this stock reduction, Li Auto stated that this was Wang Xing’s personal behavior and the stocks sold only accounted for a small portion of his total holdings, not involving Meituan’s holdings. Li Auto stated that specific ownership information needs to be confirmed accurately after the company’s annual report is issued.

Currently, Wang Xing is the founder and CEO of Meituan, as well as an early investor in Li Auto. Through this stock reduction, Wang Xing cashed out approximately HKD 311 million. It is worth noting that this is the second stock reduction by Wang Xing after Li Auto went public. As early as April this year, Wang Xing attracted market attention for multiple stock reductions of Li Auto.

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After the reduction in April, Wang Xing still holds a large number of Li Auto shares. According to the equity disclosure information of the Hong Kong Stock Exchange, Wang Xing reduced his holdings again on September 3rd. After this reduction, Wang Xing still holds 384 million shares of Li Auto, and his shareholding ratio decreased from 21.9% before the reduction to 21.79%.

It is worth noting that although Wang Xing has reduced his holdings, his shares still account for a certain proportion of Li Auto’s total share capital. According to public information, Wang Xing’s shareholding is second only to Li Auto’s founder, Li Xiang, making him the second-largest shareholder of the company.

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