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

Thanks to CTOnews.com netizens for the delivery of clues on the way! According to the website of the Hong Kong Stock Exchange (HKEx), Meituan CEO and Wang Xing, non-executive director of ideal Motor, reduced his holdings of 1.9479 million ideal Automobile Hong Kong shares from September 12 to 15, CTOnews.com reported on the website of HKEx.

On the official website of ▲ Tuyuan ideal Automobile, the average price per share ranges from HK $157.84 to HK $160.51 based on the share price of the day. Wang Xing cashed out a total of about HK $311 million in four days (CTOnews.com Note: currently about RMB 290 million). After the reduction, Wang Xing still holds 384 million ideal shares, down from 21.9% before the reduction to 21.79%.

According to thepaper.cn, ideal Motor responded: "the stock trading is a personal behavior, accounting for a small proportion of his total shareholding, and does not involve Meituan's shareholding. the details of shareholding information need to be subject to the company's annual report."

It is worth mentioning that this is not the first time Wang Xing has cashed out ideal auto stocks this year. CTOnews.com has reported that Wang Xing reduced his holdings of ideal auto stocks several times between March 20 and March 30, totaling HK $309.6 million (currently about 289 million yuan) in Hong Kong stocks and US $14.07 million (currently about 103 million yuan) in US stocks, totaling about 420 million Hong Kong dollars (currently about 391 million yuan).

According to public data, as early as August 2019, in the $530 million (currently about 3.864 billion yuan) C round financing of ideal Automobile, there was $300 million (currently about 2.187 billion yuan) contributed by Wang Xing personally. In June 2020, ideal Motor received $550 million (currently about 4.009 billion yuan) from D-round, of which $500m (currently about 3.645 billion yuan) was led by Meituan. Meituan subscribed for another $300m (currently about 2.187 billion yuan) and Wang Xing subscribed for $30 million (currently about 219 million yuan) for ideal car.

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