Shulou(Shulou.com)11/24 Report--

According to documents submitted to the Hong Kong Stock Exchange by ideal Automobile on the afternoon of September 15, Wang Xing, chairman of Meituan, one of the investors of ideal Automobile, reduced his holdings of ideal Automobile three times in the first quarter of this year, respectively, by reducing his holdings of 400000 shares of ideal Automobile on March 29, with an average price of US $27.3 per share, and then reduced his holdings of 404900 shares and 376000 shares on March 30. The average price is 107.85 Hong Kong dollars per share and 27.81 US dollars per share respectively. Based on the above information, Wang Xing realised a total of about 187 million yuan, while his shareholding fell slightly from 22.87% to 22.82%.

Based on this calculation, Wang Xing's three holdings accumulated about 21.3766 million US dollars and 43.6685 million Hong Kong dollars respectively, and Wang Xing cashed out about 171.5 million yuan at the exchange rate of the day.

In addition to Wang Xing, Shen Yanan, co-founder and president of ideal Automobile, cashed out ideal car shares more frequently. As early as December 6, 2021, Shen Yanan has repeatedly sold ideal automobile shares, and the number of shares has dropped from 32 million shares to 29 million shares, cashing out a total of more than 200 million yuan. The last two occurred in September, when 600000 ideal auto shares were sold on September 6, cashing out a total of $7.875 million, or about 54.53 million yuan. On September 2, Shen Yanan realized US $5.2888 million, or about 36.62 million yuan, by reducing his holdings of 400000 shares of ideal Automobile.

In the first quarter of 2022, when Wang Xing sold stocks, ideal Motor had revenue of 9.56 billion yuan and delivered a total of 31716 new cars, all better than the second quarter. During Meituan's second-quarter earnings call in August 2020, Wang Xing talked about his investment in ideal car. He said that Li Xiang is an excellent entrepreneur, ideal car has excellent products, and the electric car market is very large. For long-term considerations, Meituan hopes to participate in the electric vehicle industry revolution.

In fact, as early as August 2019, ideal Automobile's $530 million C-round financing included $300 million personally contributed by Wang Xing. In June 2020, ideal Motor received US $550 million in D-round financing, of which US $500m was led by Meituan. Ideal car listing, Meituan subscribed another 300 million US dollars, and Wang Xing subscribed for 30 million US dollars. According to public information, Wang Xing and Meituan invested a total of 1.15 billion US dollars in ideal cars. After the ideal car IPO, Li Xiang's shareholding is about 21%. Wang Xing and Meituan have overtaken Li Xiang to become the largest shareholder of ideal Automobile.

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