Following its successful listing on the New York Stock Exchange and its follow-on offering in 2020, Xpeng Inc. ("XPeng Motors" or the "Company") made an announcement on July 7 2021, of its global issuance of 85,000,000 shares (not including overallotment). The Company was listed on the main board of the Hong Kong Stock Exchange, (stock code: 9868) becoming the first Hong Kong IPO of a smart vehicle. The offering was HK $165 per share, raising HK $14 billion in total. JunHe assisted XPeng in all three transactions. This issuance was the first Chinese Concept Stock dual primary listing in both Hong Kong and the United States in the past three years, as well as the first back-home listing in Hong Kong by a Chinese vehicle manufacturing company.
XPeng Motors is a leading smart electric vehicle design and manufacturing company in China. It is a technology company integrating cutting-edge Internet and AI innovation. XPeng Motors has three car models: the G3, P7 and P5. Since its establishment six years ago, XPeng Motors has built a globalized, scaled, diversified, R&D-oriented multi-business company.
Headquartered in Guangzhou, the Company has also established design, R&D, manufacturing, and marketing institutions in Beijing, Shanghai, Guangzhou, Silicon Valley, Santiago, Guangdong Zhaoqing, and Zhengzhou. By utilizing a global landscape and local service, XPeng Motors is committed to transforming smart electric vehicles development with technology and data, leading the way for people to travel in the future.
JunHe acted as the PRC legal counsel to the Joint Sponsor and Underwriters in the project. Given the tight schedule of the project, JunHe delivered quality, rigorous and efficient legal services to the clients. The team overcame all adverse effects arising from the pandemic and other factors, assisting the Joint Sponsor and the Underwriters in conducting comprehensive domestic legal due diligence, reviewing and revising the prospectus and the application, and offering documents relating to the listing. We also issued PRC legal opinions, assisted in responding to the Hong Kong Stock Exchange's concerns about PRC laws, and successfully helped XPeng Motors to obtain the approval and consent of the Hong Kong Stock Exchange for the listing. The rigorous and efficient work, and careful and dedicated service attitude of JunHe’s team won the complete affirmation and reliability from the Company, the Joint Sponsors, underwriters, and other intermediaries.