--- title: "XPENG-W: Pengxing has received subscriptions for $600 million in Series A preferred shares from IDG Capital, Alibaba, Tencent, and Gaorong Capital" type: "News" locale: "en" url: "https://longbridge.com/en/news/296763558.md" description: "XPENG-W announced that its subsidiary Penghang has completed Series A preferred stock financing. IDG Capital led the investment, with Gao Rong Capital participating, and Tencent and Alibaba supporting as strategic investors. Investors subscribed for 296 million Series A preferred shares for USD 600 million; XPENG Group subscribed for approximately 98.67 million shares for USD 200 million; executives subscribed for common shares for USD 100 million. Additionally, it involves the issuance of warrants and subsequent options for additional issuance" datetime: "2026-08-24T09:26:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296763558.md) - [en](https://longbridge.com/en/news/296763558.md) - [zh-HK](https://longbridge.com/zh-HK/news/296763558.md) generator: "portal-rs" --- # XPENG-W: Pengxing has received subscriptions for $600 million in Series A preferred shares from IDG Capital, Alibaba, Tencent, and Gaorong Capital According to the announcement from XPeng Group-W (09868), on August 24, 2026, the company, Pengxing, major subsidiaries of Pengxing, XPeng Group Pengxing, investors, and executive subscribers entered into a share purchase agreement for Pengxing. XPeng Group Pengxing conditionally agreed to subscribe for a total of 98.6752 million Series A preferred shares of Pengxing to be newly issued at a total purchase price of USD 200 million; investors conditionally agreed to subscribe for a total of 296 million Series A preferred shares of Pengxing to be newly issued at a total purchase price of USD 600 million; and executive subscribers conditionally agreed to subscribe for a total of 49.3376 million ordinary shares of Pengxing to be newly issued at a total purchase price of USD 100 million; and Pengxing warrants, with a total purchase price of USD 123.35, which entitle the holders to subscribe for up to a total of 246.7 million ordinary shares of Pengxing to be newly issued at a total exercise price of USD 500 million. The current round of equity financing for Pengxing under the share purchase agreement is initiated by leading global investment institutions, led by IDG Capital and participated by Gao Rong Capital, while also receiving support from two strategic investors, Tencent and Alibaba. According to the share purchase agreement, on or before the date that is 4 months from the date of the share purchase agreement, or at another time that the parties may agree, Pengxing may issue up to 7.4006 million additional Series A preferred shares to additional investors at the same terms and conditions as set forth in the share purchase agreement, with a total purchase price of USD 15 million (based on the same purchase price per Series A preferred share paid by investors at the additional closing), provided that additional investors must become parties to the share purchase agreement by executing and delivering an accession agreement. According to the shareholder agreement to be established regarding the subscription matters, each investor will be granted redemption rights, whereby (including) if Pengxing fails to complete a qualified initial public offering within 7 years after the investors complete the subscription for the first batch of subscription shares, or if any other triggering event occurs, each investor has the right to require Pengxing, major subsidiaries of Pengxing, or XPeng Group to redeem, purchase, facilitate the purchase, or otherwise acquire all or any part of the outstanding Series A preferred shares of Pengxing held by that investor. The board further announced that regarding the subscription matters, Pengxing will approve and adopt the 2026 equity incentive plan for Pengxing before the first closing of the subscription matters. It is reported that Pengxing, along with major subsidiaries of Pengxing and its other subsidiaries, mainly engages in the XPeng Robotics business. The XPeng Robotics business refers to the research, design, development, manufacturing, licensing, commercialization, and operation of robots and robotic systems that can autonomously or adaptively perceive, understand, navigate, manipulate, control, or otherwise interact with the physical environment in the form of humanoid, animal-shaped, bipedal, wheeled, quadrupedal, or tracked robots or robotic systems, as well as other robotic entities that can perform substantially similar functions in interaction with the physical environment. For the avoidance of doubt, the Group's automotive business, flying car business, Robotaxi business, integrated circuit business, or any other physical AI business, as well as any subsidiary or ancillary business related to the above businesses (in each case, whether currently or in the future operated by the Group) are not included The company believes that introducing external equity financing for Penghang through the Penghang Share Purchase Agreement and adopting the Penghang 2026 Equity Incentive Plan is commercially beneficial for both the company and Penghang, and aligns with the overall interests of the company and its shareholders for the following reasons: (a) Introducing external financing allows the value of Penghang and XPeng Robotics business to be better reflected according to their own merits, enabling investors to independently assess and evaluate Penghang's performance and potential, separate from the group (excluding Penghang Group Company); (b) The XPeng Robotics business is attractive to a group of investors specializing in humanoid robot research and development, which is distinct from the investor group of the group's smart electric vehicle business. Therefore, the subscription matter can expand the funding sources available for the development of XPeng Robotics without relying on the company's own balance sheet; (c) The subscription matter will provide Penghang with substantial funds to support the research and commercialization of humanoid robots, thereby alleviating the financial burden on the group and allowing the group's (excluding Penghang Group Company) financial resources to be allocated more effectively; (d) The anticipated participation of internationally renowned institutional investors will enhance Penghang's image among potential customers, suppliers, and strategic partners, strengthening its position in negotiations and business acquisition. Additionally, strategic investors can bring a wide range of strategic resources and support, facilitating the expansion of humanoid robot application scenarios. Therefore, the company will continue to benefit from Penghang's growth through its retained equity in Penghang; (e) After the completion of the subscription matter, the company will continue to control and integrate Penghang, and can generate strategic synergies by sharing physical AI research and development resources and results between the group and Penghang Group Company, ensuring the group retains strategic interests in the XPeng Robotics business; (f) The subscription of ordinary shares and warrants of Penghang by the executive subscribers, along with the executives' commitment to non-competition, aims to align the interests of the executives (as key personnel of the XPeng Robotics business) with the long-term development of Penghang, recognizing their contributions made and to be made; and (g) Adopting the Penghang 2026 Equity Incentive Plan helps Penghang retain, attract, and motivate suitable talent to support its ongoing operations and development, aligning the interests of selected participants with the long-term development of Penghang ### Related Stocks - [XPEV.US](https://longbridge.com/en/quote/XPEV.US.md) - [09868.HK](https://longbridge.com/en/quote/09868.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) ## Related News & Research - [Wall Street sees Xpeng robot financing as catalyst for value unlock](https://longbridge.com/en/news/296857704.md) - [XPeng Stock (XPEV) – XPeng's Robotics Unit Dogotix Valued at $6.3B After Record Fund Raise](https://longbridge.com/en/news/296785720.md) - [XPeng Raises Nearly US$1 Billion for Dogotix, Diluting Stake as IPO-Linked Rights Agreed](https://longbridge.com/en/news/296766172.md) - [Alibaba chair buys another 720,000 company HK shares](https://longbridge.com/en/news/296888632.md) - [Xpeng to launch G9L in September, Mona L05 in Q4 as it targets 60,000 monthly sales](https://longbridge.com/en/news/296825294.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**