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Meituan founder and CEO Wang Xing recently high-frequency "withdrawal" from the ideal car attracted industry attention. Wang Xing, a non-executive director of ideal Motor and co-founder of Meituan, reduced his stake in ideal Motor Hong Kong shares on March 28, the ninth reduction since March this year, according to documents disclosed by the Hong Kong Stock Exchange on April 3.

According to the Hong Kong Stock Exchange, Wang Xing sold ideal auto shares six times from March 20 to March 23, including three US stocks and three Hong Kong stocks. Among them, the average prices of the three US stocks were US $23.1,23.4,23.4 respectively; the average prices of the three Hong Kong stocks were HK $89.5,92.1,92.9, respectively, with a cumulative total of about 2.6 million shares, with a cash gain of about 292 million Hong Kong dollars, or about 256 million yuan. After that, Wang Xing reduced his holdings of ideal Motor Hong Kong shares by 1.33 million shares and cashed out about HK $128 million at an average price of HK $93.20, HK $97.8 and HK $97.7 per share respectively for three consecutive trading days from March 28 to March 30.

So far, Wang Xing has reduced his holdings for a total of nine times, reducing a total of 3.933 million ideal automobile shares, cashing out a total of about 420 million Hong Kong dollars (about 368 million yuan). In view of Wang Xing's frequent cashing behavior, Wang Xing did not explain this time. It should be noted that after completing the latest reduction, although Wang Xing's shareholding has dropped from 22.42% to 22.35%, he is still the largest external shareholder of ideal Automobile.

In response to the above news, ideal Automobile responded: "recently, Wang Xing sold shares during the window period, and the specific number of shares is subject to the DI form of Wang Xing file (DI form refers to the disclosure of interests form). The trading stock is a personal behavior, and the transaction accounts for a very small proportion of Wang Xing's total shareholding, which does not involve Meituan's shareholding part. the specific shareholding information will prevail after the company's 2022 annual report. "

Wang Xing, founder and CEO of Meituan, first assumed the position of non-executive director of ideal Automobile in July 2019. At that time, ideal Automobile had just acquired production qualification through acquisition and was in a lack of funds, and Wang Xing was the dignitary who helped the ideal car in the snow.

Looking at the financing process of ideal car, Wang Xing has a close relationship with ideal car. According to public data, in August 2019, ideal Motor received $530 million in round C financing, of which Wang Xingling personally contributed $285 million (about RMB 1.961 billion), while also famous for Meituan's Dragon Ball Capital contributed $15 million. In July 2020, ideal Motor received a financing of US $550 million from D-round, which was also led by Wang Xing, with Meituan leading the investment of US $500 million (about RMB 3.44 billion), that is to say, strategic financing before the listing of ideal Automobile. Wang Xing and Meituan both invested in ideal cars many times. Since then, ideal Automobile has been listed in US stocks, and Wang Xing has once again increased its investment in ideal Automobile, of which Wang Xing subscribed to US $30 million and Meituan subscribed to US $300m. At that time, according to the ideal Automobile prospectus, Wang Xing was the second largest shareholder of ideal Automobile, accounting for 14.5% of the shares. So far, Meituan and Wang Xing have invested a total of 1.15 billion US dollars in ideal cars several times.

Data show that by the end of June last year, the largest shareholder of ideal Automobile was CEO Li Xiang (Amp Lee Ltd), with 22.47%, the second largest shareholder was Meituan's Investment Company (Inspired Elite Investments Limited), with 12.49%, and the third largest shareholder was Wang Xing individual (Zijin Global Inc.), with 8.9%.

In addition, Wang Xing's relationship with ideal car not only stays at the investment level. Before that, Wang Xing created momentum for the ideal car many times when the ideal car was listed, and even bought an ideal ONE himself, and said bluntly: "finally, I like to mention an ideal ONE, which can replace the original Volvo XC90 and Tesla Model S." In addition, Wang Xing also said publicly that he was optimistic about the ideal car. in October 2022, Wang Xing also forwarded the delivery report of the ideal car for September, and issued a post saying: "as promised, the ideal car L9 with a price of 459800 will be delivered in the first month of over 10,000, specifically 10123. For the past two or three decades, the leader of China's high-end car market has been German BBA (Mercedes-Benz, BMW, Audi), and the next two or three years will depend on Li Weihua (ideal, Lulai, Huawei). No matter which company wins, China will win.

Up to now, the ideal car has three models on sale: L8, L9 and L7, among which the ideal L7 will be delivered on March 11. it will launch three versions of the car, namely Air, Pro and Max, with prices of 319800 yuan, 339800 yuan and 379800 yuan respectively. A total of 20800 new cars were delivered in March 2023, which is the only company to deliver more than 20, 000 vehicles among Xilai, Najia, Xiaopeng and Zero cars.

Earlier, ideal car CEO Li wanted to reveal: "this year, we will challenge all luxury SUV markets in the price range of 300000 yuan to 500000 yuan to win 20% market share. We expect to deliver 52000 to 55000 vehicles in the first quarter." Year-on-year growth of 64.0% to 73.4%. " . From the analysis of the first quarter delivery data, ideal car almost achieved the delivery target proposed by Li. The latest delivery data show that the ideal car delivered a total of 52600 vehicles in the first quarter of this year, an increase of 65.80% over the same period last year.

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