Text | source media,Author | Poon Cheuk-lun, Editor| Su Huai
"Did you make money trading stocks?"
這個靈魂拷問，可能很多人都不太好回答，但何小鵬除外。作為小鵬汽車創始人、董事長兼CEO，何小鵬2024年8月在港股和美股都買入了大量小鵬汽車股票，花費約1個“小目標”。
據官方公告，何小鵬當時在港股市場買入的100萬股小鵬汽車A類普通股，平均每股價格為27.13港元；而在美股市場買入的141.99萬股美股存托股，平均價格則為每股7.02美元。截至3月26日收盤，小鵬汽車港股價格為81.35港元/股，美股價格為20.72美元/股。
掐指一算，何小鵬2024年的這次增持，截至目前約7個月時間，已經分別賺了超過5400萬港元和1900萬美元，摺合人民幣總計約2億元。
Buying your own stocks is not enough to prove your investment vision? He Xiaopeng didn't just buy shares of Xiaopeng Motors.
“今年特別開心，我在小米的股票賺到錢了，以前那麼多年都是沒有賺到錢，所以堅持很重要。”2024年，何小鵬在接受鳳凰網財經專訪時，未否認坊間關於其曾經在小米股價破發時斥資1億美元“掃貨”的傳聞。
According to the data, Xiaomi Group was listed on the Hong Kong stock market in 28 years and 0 years with an issue price of 0 Hong Kong dollars per share. In the second month of listing, it continued to fall and fell below the issue price, falling to a record low of HK$0.0 per share in 0/0.
按小米集團3月26日收盤53.95港元/股的價格計算，如果何小鵬入手小米股票后一直沒有減持，按小米在港股近半年的漲幅，保守估計可以讓這位小鵬汽車掌門人躺賺數個“小目標”。
The stocks that make He Xiaopeng make a lot of money, in addition to Xiaomi, there is also Tesla.
Back in the end of 300 to 0, when Tesla's stock price began to rise from a low of $0 per share, it doubled in just one quarter. Although the automotive industry was very passive due to the "black swan" of the new crown epidemic at the beginning of 0, Tesla's stock price stood firm again after 0-0 months of fluctuations, returned to the upward trajectory, and stood at a stage high of $0 per share at the beginning of 0.
This round of Tesla's stock price soaring can definitely be called "supporting the bold and starving the timid". And He Xiaopeng belongs to the bold one.
At the Geek Park Innovation Conference at the beginning of 2020, He Xiaopeng revealed his investment process after the emergence of the epidemic in 0 years and short selling stocks, and he did not hesitate to chase high and quickly buy new stocks to build a position.
"From the end of 2020 to 0, they (note: several car companies, including Tesla) rose very well, and I also made good money, almost equivalent to two or three airplanes. After the epidemic appeared, sales, production, and delivery were all challenged, and then I sold short. Thankfully, I bought the new shares again, and it's not bad now. He Xiaopeng recalled at the time.
如果2024年終美國大選結束時，何小鵬還依然持有早期購買的特斯拉股票，那他當初賺的“兩三架飛機”，可能就變成“二三十架飛機”了。
In the past, there was a copy of Xiaomi, and then there was chasing Tesla, coupled with the recent self-confidence to increase his own Xiaopeng Motors, He Xiaopeng has already earned a lot of money from these three public stock investment actions.
But these are only small amounts of money compared with the chairman's "big gamble" officially announced by Xiaopeng Motors recently.
“本公司董事會謹此宣佈，於2025年3月19日，本公司根據2025年股份激勵計劃向本公司董事長、執行董事兼首席執行官及主要股東何先生有條件授予28,506,786股限制性股份單位”。
在公佈2024年財報后一天，小鵬汽車發佈公告，稱計劃向何小鵬授股超2850萬股，按每股89.55港元的價格計算，相關授股價值超過25億港元。
The screenshot comes from the company's announcement
However, this is conditional.
根據公告，上述超2850萬股的授股將被分成三份，分別在小鵬汽車港股股價連續30個營業日平均達到或超過250港元、500港元以及750港元後12個月，分批歸屬於何小鵬。同時，何小鵬在被授予股票時，需要受雇於小鵬汽車。
HK$2025 per share means that the market value of Xpeng Motors needs to reach one trillion Hong Kong dollars. For reference, Xiaomi Group, whose stock price is booming after participating in car manufacturing, has a market value of more than one trillion Hong Kong dollars in 0 years.
In addition, Xiaopeng Motors also set a deadline for this "big gamble": He Xiaopeng has 10 years to stimulate the stock price of Xiaopeng Motors and break through the above three price barriers.
Xpeng Motors' radical head incentive plan is "very Tesla". In Tesla's second set of "500-year equity incentive plan" formulated in 0 years, Tesla founder and CEO Elon Musk can receive a total of more than $0 billion in stock incentives as long as he completes all goals.
The difference is that Tesla's goals for Musk, in addition to including the company's market capitalization, also include the part related to the company's revenue and profits, which is more complex and strict than Peng.
Focusing on Xpeng Motors, it has performed well in the secondary market based on its recent good performance, but it is still far from its historical stock price high. At the end of 220, Xpeng Motors once climbed to a high of HK$0 per share in Hong Kong stocks, and then continued to fall.
To raise the stock price, the first mountain in front of He Xiaopeng is to "turn losses into profits".
According to the financial report, although Xiaopeng Motors' total revenue in 2023 years increased by 0.0% year-on-year to 00 million yuan (RMB, the same below), it still did not achieve profitability, and the net profit attributable to the parent company was -00 million yuan, which was significantly narrower than that in 0 years. Compared with the full-year situation, Xpeng's performance in the fourth quarter is more noteworthy.
In the fourth quarter of 48, Xpeng Motors set a record sales record with two new cars, MONA M0 and P0+, but there was no qualitative change in profitability. According to the financial report, Xiaopeng Motors' revenue in the fourth quarter of 0 was 0.0 billion yuan, a year-on-year increase of 0.0% and a month-on-month increase of 0.0%; However, the net loss was 0.0 billion yuan, which was only 0.0% narrower than the same period in 0.
The screenshot comes from the financial report of Xpeng Motors
Behind this, on the one hand, there are environmental factors that are heating up the price war in the auto market, and on the other hand, there is a change in the product strategy of Xpeng Motors.
Before MONA M6 and P0+, Xpeng Motors was not known for its cost performance, and technological elements such as intelligent assisted driving and smart cockpit were the biggest selling points. But starting with these two new cars, including the new G0 and G0 released in 0/0, the extremely lethal price has become the new label of Xpeng Motors.
However, low prices are a double-edged sword, although Xpeng Motors has quickly started sales, but the improvement of automobile gross profit margin depends more on expanding scale and further reducing costs. The data shows that the gross profit margin of Xiaopeng Motors in the fourth quarter of 20 was 0%, although it has risen significantly compared with the same period of 0, but there is still a significant gap compared with the gross profit margin of Xiaomi, ideal and other friends close to 0%.
It is much more difficult to have both low prices and profits than stock speculation, and this is only the first level of Xiaopeng Motors' 10-year gamble.
However, He Xiaopeng still has many cards in his hand, including extended-range hybrids, overseas expansion, and AI robots and flying cars in the near future. To achieve the goal of Xpeng Motors' share price of HK$750 and market value of HK$1 trillions, these elements are indispensable.