- After joining Xpeng in 2023, Wang steered the company out of a slump and achieved substantial sales growth.
- These Xpeng stock incentives are worth about $13 million.
Xpeng (NYSE: XPEV) president Wang Fengying has been added to the company's shareholder register after helping reverse a downturn in sales.
As of March 31, 2026, the 55-year-old Wang held 1.65 million Class A ordinary shares of Xpeng, representing a 0.1% stake in the company, according to the annual report disclosed by Xpeng last month.
Based on the May 8 closing price of $15.62 for Xpeng's American Depositary Receipts (ADRs), these shares are valued at about $13 million. Each Xpeng ADR represents two Class A ordinary shares.
Notably, the incentive was approved as early as March 2023, just two months after she officially took over as Xpeng's president.
Under the company's incentive rules, the equity grant came with a three-year service condition, requiring Wang to remain continuously employed at Xpeng for three full years before it could fully vest.
In March 2026, after the vesting conditions were met, the incentive was officially granted, and Wang thereby became a registered shareholder of Xpeng.
When she joined Xpeng in January 2023, the automaker was at its lowest point since its founding nine years prior, with monthly deliveries falling below 10,000 units for consecutive months.
From 2023 to the present, Wang has spearheaded the restructuring of products, sales channels, and branding, driving the company's annual sales from 120,800 units to 429,400 units in 2025.
Along with the sales growth, Xpeng's financial situation reached a historic turning point at the end of 2025.
In the fourth quarter of 2025, Xpeng's revenue reached 22.25 billion yuan, and it recorded a GAAP net profit of 383 million yuan, marking its first-ever quarterly profit.
Prior to joining Xpeng, Wang worked at GWM (HKG: 2333) for 30 years, rising through the ranks to become the "number two" figure, second only to founder Wei Jianjun.
Despite earning a top-tier salary in the industry, Wang held zero shares during her tenure at GWM.
In 2019, GWM proposed an equity incentive draft plan to grant Wang 3.3 million restricted shares, but the proposal ultimately failed to pass the shareholders' meeting.
In June 2022, one month after resigning as GWM's general manager, Wang dipped into her own pocket to purchase 2.475 million Hong Kong-listed shares of GWM through the open market, according to multiple media reports.
In China's fiercely competitive new energy vehicle (NEV) industry, emerging automakers widely adopt a high salary plus high incentive model, deeply tying core executives to the company through equity.
($1 = 6.8000 yuan)
