Chinese smart electric vehicle company XPeng on Wednesday announced that its ordinary shares, which currently trade on the Hong Kong Stock Exchange (HKEx), are now included in the Shenzhen-Hong Kong Stock Connect program, effective Wednesday.
“We are pleased to be included in the Stock Connect program, which enables qualified mainland Chinese investors to have direct access to our shares through stock exchanges in the mainland. The inclusion will not only further expand and diversify our investor base but will also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our growth,” said Brian Gu, Vice Chairman and President of XPeng.
This makes XPeng the first smart EV company listed in Hong Kong to be included in the Stock Connect program. Previously, XPeng also became the first smart EV company to achieve a dual-primary listing status in both New York and Hong Kong.
Hang Seng Indexes Company Limited announced on July 8, 2021 that XPeng had met the “fast entry rule” of various indexes, and would be included as a constituent of several, including the Hang Seng Composite Industry Index, the Hang Seng Composite LargeCap Index and the Hang Seng Consumer Goods & Services Index from July 21, 2021. Inclusion in the Hang Seng Composite Index is a key requirement for the Stock Connect scheme.
The company’s shares began trading on the Main Board of the HKEx on July 7, 2021, and are fully fungible with the company’s American Depositary Shares on the New York Stock Exchange.