Summary by Futu AI
XPeng Inc. has voluntarily announced that its co-founder, executive director, chairman, CEO, and controlling shareholder, Mr. Xiaopeng He, has increased his shareholding in the company. Between August 21, 2024, and August 23, 2024, Mr. He purchased 1,000,000 Class A ordinary shares at an average price of HK$27.13 each and, through his wholly-owned entity Galaxy Dynasty, acquired 1,419,922 American depositary shares (ADSs) at an average of US$7.02 per ADS. Following these transactions, Mr. He's total interest in XPeng includes approximately 18.8% of the company's total issued share capital, comprising various holdings in Class B ordinary shares and ADSs through different entities, including Galaxy Dynasty and Simplicity Holding Limited. The Board interprets this acquisition as a sign of Mr. He's strong confidence in the company's future and his long-term commitment. Mr. He has also indicated plans to further increase his stake in XPeng, subject to legal and regulatory compliance. The announcement was made on August 26, 2024, and shareholders and potential investors are advised to exercise caution when dealing in the company's securities.