Summary by Futu AI
On June 20, 2024, Xpeng submitted a new disclosure report, disclosing the changes in its issued shares. According to the report, as of May 31, 2024, the company had issued 1,540,864,035 shares, which increased to 1,543,510,227 shares by June 20. The increase in shares was mainly due to the 2019 stock-based incentive plan, in which the company issued 2,646,192 Class A ordinary shares to participants (excluding directors) to meet the requirement of restricted share units. The stock-based incentive plan was adopted on June 28, 2020 and approved by shareholders on August 20, 2020. The company confirms that all share issuances or inventory share sales or transfers have been formally authorized and approved by the board of directors, and comply with all applicable listing rules, laws and other regulatory requirements.