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

CTOnews.com, May 30 (Xinhua)-- according to Forbes, the wealth of he Xiaopeng, 45, founder, chairman and CEO of Xiaopeng Motor has shrunk sharply, and his wealth has shrunk by 75% from a peak in 2021 to $1.4 billion (CTOnews.com Note: currently about 9.912 billion yuan).

Although his wealth has shrunk and his net worth is only 1/4 of his wealth of $5.5 billion in 2021, he Xiaopeng is still the 2048 richest man in the world.

He Xiaopeng owns 20.5% of Xiaopeng's Class A shares as of December 31, 2022, according to a regulatory document released in February.

Xiaopeng reported disappointing first-quarter results last Wednesday, showing that revenue fell nearly 50% year-on-year to 4.03 billion yuan. The company's net loss also expanded to 2.34 billion yuan from 1.7 billion yuan in the same period last year. The decline in revenue was mainly due to the poor sales performance of Xiaopeng in the first quarter. According to the data, Xiaopeng's total car delivery in the first quarter of 2023 was 18000, down 47.25% from the same period last year.

Xiaopeng's poor performance was mainly affected by the price war triggered by Tesla in China's electric car market. In "Wei Xiaoli", Xiaopeng Automobile is the most active enterprise to follow up the price reduction. Shortly after Tesla announced the price reduction at the beginning of the year, Xiaopeng quickly launched a price reduction promotion of up to 20, 000 to 36000 yuan, but did not attract more buyers.

China is Tesla's second largest market after the United States, and it is also a very important market for the company. Tesla CEO Elon Musk will visit China for the first time this week, his first visit to the country in three years, Reuters reported on Monday.

In order to enhance its competitiveness, Xiaopeng Motor made changes to its marketing system in the first quarter of this year. It is reported that after the reform, in the internal organization and management structure, the two channel teams of Auto Trade and UDS have completed the merger; in the sales system, the sales of the two channels across the country have been withdrawn and adjusted to a small area system.

In terms of new products, Xiaopeng's new model G6, which adopts SEPA2.0 technology architecture, will be officially launched in June 2023.

Xiaopeng Motor shares, which are listed on the New York Stock Exchange, closed up 2.4% at $8.2 on Friday. So far this year, the stock is down 18%, down 64% from the same period last year. Shares of Xiaopeng, which is listed on the Hong Kong stock exchange, rose 0.2% at noon on Tuesday. The stock is down 19% so far this year.

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