TechNode, Junli Gu - Vice President, Automated Driving Center, XiaoPeng He - Co-Founder Chief Executive Officer & Chairman. More wealth was created this year than in the previous five years combined, with China’s rich-listers adding $1.5 trillion, roughly half the size of Britain’s GDP. The Hurun China Rich List 2020 also highlights China’s accelerated shift away from traditional sectors like manufacturing and real estate, towards e-commerce, fintech and other new economy industries. Nio, the most high-profile and best-financed of the three, had a market cap of $29 billion as of Oct. 14, almost equivalent to that of Xpeng and Li Auto combined (Update: These figures are slightly out of date—Nio’s stock … See here for a complete list of exchanges and delays.
XPeng Announces Cooperation Agreement for New Smart EV Manufacturing Base in Guangzhou. Despite Covid-19 they have risen to record levels.”.
“The world has never seen this much wealth created in just one year.
TechNode Six-year-old Xpeng Motors now has a market capitalization of nearly $15 billion, nearing the size of a number of …
The wealth of He Xiaopeng surged 80% to $6.6 billion after the listing of his electric vehicle maker Xpeng Motors XPEV.N in New York during the summer. Booming stock markets and a flurry of new listings have created five new dollar billionaires in China a week for the past year, Hoogewerf said in a statement.
To add more color to …
China has accelerated capital market reforms to aid a virus-hit economy, accelerate economic restructuring and fund a “tech war” with the United States. Ant is expected to create more mega-rich through what is likely to be the world’s biggest IPO, as it plans to raise an estimated $35 billion through a dual listing in Shanghai and Hong Kong.
The wealth of He Xiaopeng surged 80% to $6.6 billion after the listing of his electric vehicle maker Xpeng Motors XPEV.N in New York during the summer. To expedite initial public offerings (IPOs), regulators launched a U.S.-style IPO system on Shanghai’s Nasdaq-style STAR Market and Shenzhen’s ChiNext. Zhong Shanshan, who recently listed his bottled water maker Nongfu Spring Co 9633.HK in Hong Kong, shot straight into the top 3 with $53.7 billion, trailing Tencent 0700.HK founder Pony Ma.
China’s entrepreneurs have done much better than expected. XPeng Inc. (XPEV) shares are trading at higher $22.16 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $23.70. Zhong Shanshan, who recently listed his bottled water maker Nongfu Spring Co, in Hong Kong, shot straight into the top 3 with $53.7 billion, trailing Tencent, The wealth of He Xiaopeng surged 80% to $6.6 billion after the listing of his electric vehicle maker Xpeng Motors.
XPeng Inc. ("XPeng" or the "Company", NYSE: XPEV), a leading Chinese smart electric vehicle ("Smart EV") company, announced today that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors …
Reporting by Samuel Shen and Brenda …
, retained the top spot for the third year in a row, with his personal wealth jumping 45% to $58.8 billion partly due to the impending mega-listing of fintech giant Ant Group. SHANGHAI (Reuters) - China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released on Tuesday. Xpeng Motors soared more than 40% in its debut on the New York Stock Exchange on Thursday.
Chinese corporate listings in Hong Kong and Nasdaq have also turbocharged the fortunes of company founders. All quotes delayed a minimum of 15 minutes. According to a separate estimate by PwC and UBS, only billionaires in the United States possessed greater combined wealth than those in mainland China.
The combined wealth of those on the Hurun China list - with an individual wealth cut-off of 2 billion yuan ($299.14 million) - totaled $4 trillion, more than the annual gross domestic product (GDP) of Germany, according to Rupert Hoogewerf, the Hurun Report’s chairman.
Our Standards: The Thomson Reuters Trust Principles.
Reporting by Samuel Shen and Brenda Goh; Editing by Simon Cameron-Moore.
Jack Ma, founder of Alibaba 9988.HK, retained the top spot for the third year in a row, with his personal wealth jumping 45% to $58.8 billion partly due to the impending mega-listing of fintech giant Ant Group.
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