Li Auto responded to Wang Xing’s further reduction in shareholding: it accounts for a small proportion of its total shareholding and does not involve Meituan’s shareholding

According to news on April 3, the equity disclosure information of the Hong Kong Stock Exchange on April 3 showed that Wang Xing, the founder, director and controlling shareholder of Meituan, once again reduced his holdings of Li Auto shares.

From March 26 to March 28, Wang Xing sold 950,000 shares of Li Auto, 1.4139 million shares and 1.7984 million shares respectively for three consecutive days. 10,000 ordinary shares, a total of 4.1623 million shares, with average prices per share of HK$122.1665, HK$118.5752 and HK$121.9197 respectively, involving a total investment of more than HK$500 million.

Reports on Wang Xing’s shareholding reduction involve trading stocks as a personal behavior. The transaction accounts for a small proportion of Wang Xing’s total shareholding and does not involve Meituan’s shareholding.

Wang Xing still holds 384 million shares of Li Auto, and his shareholding ratio has dropped from 21.9% before this reduction to 21.79%. This site noticed that as early as March 21 to March 30, 2023, Wang Xing reduced his holdings of Li Auto Hong Kong stocks 6 times, totaling about 310 million Hong Kong dollars. Subsequently, a total of 1.9479 million Li Auto Hong Kong shares were reduced from September 12 to September 15, 2023, cashing out approximately HK$311 million.

In March this year, Li Auto continued to lead the new force delivery rankings with a delivery volume of nearly 29,000 vehicles, a year-on-year increase of 39.2%. In the first quarter of this year, Li Auto delivered a total of more than 80,000 new cars, a year-on-year increase of 52.9%. It is worth mentioning that Li Auto previously lowered its new car delivery forecast in the first quarter of this year from the original 100,000-103,000 vehicles to 76,000-78,000 vehicles. Li Auto gave the reason for lowering its first-quarter delivery volume: sales orders were lower than expected.

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