By Yifan Wang and Clarence Leong
Chinese electric-car maker XPeng Inc.’s Hong Kong-listed shares jumped following the stock’s inclusion in a trading link between the Shenzhen and Hong Kong exchanges.
XPeng shares surged as much as 12% on Wednesday morning and were last 11% higher at HK$157.40.
The inclusion would enable qualified China-based investors to trade eligible Hong Kong shares of XPeng up to specified daily quotas, the company said Wednesday.
This development is driving the electric-vehicle maker’s outperformance today, Bernstein analyst Eunice Lee said. “Thus far, Chinese investors have limited quality stocks (other than perhaps CATL, BYD, etc.) to pick from to get exposure to EVs,” she said, referring to EV battery maker Contemporary Amperex Technology Co. and auto maker BYD Co., which are listed in Shenzhen.
“The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and electric vehicle and technology investors in China to participate in our exciting growth story,” said Brian Gu, XPeng’s vice chairman and president.
Write to Yifan Wang at [email protected]
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