Meituan CEO Wang Xing reduced his holdings in Ideal Auto again, cashing out HK$600 million in 4 days

Passionategeekz On June 17, Meituan CEO Wang Xing once again reduced his holdings in Ideal Auto. According to the Hong Kong Stock Exchange’s equity disclosure data, from June 10 to June 13, Wang Xing reduced his holdings of Ideal Auto by 5.737 million shares.The total amount of cash out exceeds HK$600 million(Passionategeekz Note: The current exchange rate is approximately RMB 549 million), and the shareholding ratio dropped from 20.94% to 20.61%.

This is the second time Wang Xing has continuously reduced his holdings in Ideal Auto since this year. From March 18 to March 21,Wang Xing reduced his holdings in Ideal Auto by 6.5 million shares in 4 trading dayscashing out about HK$700 million. Wang Xing’s shareholding ratio is from 21.3% to 20.94%, and he is still an important shareholder of Ideal Auto.

Passionategeekz noticed that as early as March 21 to March 30, 2023, Wang Xing reduced his holdings in Ideal Auto’s Hong Kong stocks six times, reducing his holdings by approximately HK$310 million. Later, it reduced its holdings of 1.9479 million shares of Ideal Auto Hong Kong stocks from September 12 to September 15, 2023, cashing out about HK$311 million. From March 26 to March 28, 2024, Wang Xing sold 950,000 shares, 1.4139 million shares and 1.7984 million ordinary shares of Ideal Auto for three consecutive days, totaling 4.1623 million shares, involving a total capital of more than HK$500 million.

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