XPeng President Wang Fengying Becomes Shareholder After Vesting 1.65 Million Restricted Shares

According to XPeng Inc.'s recently disclosed annual report and regulatory filings, President Wang Fengying has officially been added to the company’s shareholder register, holding 1.65 million Class A ordinary shares as of March 31, 2026, representing 0.1% of the total outstanding shares in that class. The equity incentive plan was approved in March 2023—just two months after she formally assumed the role of president on January 30, 2023. The grant consisted of 1.05 million Class A ordinary shares and 1.2 million unvested restricted shares, awarded at zero exercise price, subject to a three-year service condition. All shares became fully vested and unrestricted upon completion of the service period in March 2026. Based on the share prices as of May 8, 2026—HK$60.8 per share for XPeng’s Hong Kong-listed stock and US$7.67 per share for its U.S.-listed Class A ordinary shares—the market value of her 1.65 million shares is approximately RMB 86.08 million to RMB 87.20 million. Wang Fengying joined XPeng during a challenging period for the company: the G9 launch had underperformed, and XPeng’s market capitalization had shrunk by roughly 80%. Starting in 2023, she spearheaded a comprehensive overhaul of products, sales channels, and brand strategy—streamlining the product portfolio, focusing on hit models, and refining pricing strategies; restructuring the sales system into a hybrid “direct + multi-dealer” model; shifting overseas operations toward deep localization; and leveraging her supply chain expertise to control costs, thereby improving gross margins and narrowing losses. XPeng’s annual vehicle deliveries surged from 120,800 units in 2022 to 429,400 units in 2025—an increase of over 2.5 times. In Q4 2025, XPeng reported revenue of RMB 22.254 billion, up 38.18% year-over-year; net profit attributable to shareholders of RMB 383 million, marking its first-ever quarterly profit and a turnaround from losses in the prior-year period; vehicle deliveries of 116,200 units, up 27.04% year-over-year; and a gross margin of 21.31%, an improvement of 6.87 percentage points compared to the same period in 2024. However, the company still posted a net loss of RMB 1.139 billion for the full year 2025, though this represented an 80.32% year-over-year reduction. Prior to joining XPeng, Wang spent 30 years at Great Wall Motor (GWM). She served as General Manager starting in 2002 and as President from 2003, playing a pivotal role in establishing the Haval brand as an independent entity and building its sales network. Her 2021 annual compensation totaled RMB 5.5141 million, yet she had never held any equity stake in GWM. In 2019, GWM proposed granting her 3.3 million restricted shares, but the plan failed to gain shareholder approval. In May 2022—one month before her departure—she personally purchased 2.475 million GWM Hong Kong-listed shares, which remained underwater as of May 8, 2026. In recent years, intensifying competition in China’s new energy vehicle (NEV) sector has led emerging EV makers to widely adopt “high salary + high equity incentives” to retain key talent, while some traditional automakers have remained relatively conservative on equity-based compensation. In 2023, GWM launched an employee stock ownership plan covering up to 3,640 employees, including two executives, with dual performance criteria tied to both individual and company-wide targets. Separately, according to an official announcement, effective April 1, 2026, XPeng Motors Co., Ltd. has changed its Chinese legal name to “XPeng Group.”