Chinese Electric Vehicle Maker Li Xiang Announces Additional Listing in Hong Kong
[Asia Economy Reporter Cho Hyun-ui] Chinese electric vehicle startup Li Xiang (Li Auto), listed on the US stock market, is set to have a secondary listing on the Hong Kong stock exchange. Li Xiang is one of the three major Chinese electric vehicle specialized startups, alongside Weilai (NIO) and Xiaopeng (Xpeng).
The Hong Kong Stock Exchange announced on the 26th that Li Xiang has passed the listing review, according to Chinese media reports.
Li Xiang, which was listed on the US Nasdaq in July last year, will now have an additional listing on the Hong Kong stock exchange. The specific timing and scale of the listing have not yet been finalized or announced.
In the past, promising Chinese technology companies preferred to list on the US stock market, but as the new US-China cold war intensified, they have turned their attention to the Hong Kong stock exchange.
Chinese companies already listed in the US are gradually withdrawing from the US stock market by pursuing secondary listings in Hong Kong amid concerns that they may be forcibly delisted in the future. Starting with Alibaba, several large Chinese tech companies listed on the US stock market, such as JD.com, Baidu, and Bilibili, have already completed secondary listings in Hong Kong.
There is also an increasing trend of companies going public (IPO) directly on the Hong Kong stock exchange instead of the US stock market, such as the short video platform Kuaishou.
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