- Wang recalled his initial collaboration with BYD a decade ago at the Denza N9 launch event, expressing regret over not investing in the company at that time.
- He expressed full confidence in BYD's long-term development after gaining a deeper understanding of the Denza and BYD teams.
Renowned Mandopop musician Wang Leehom confirmed that he has used the fee earned from endorsing Denza, a premium brand under BYD (HKEX: 1211), to purchase BYD shares.
Wang confirmed the move while answering a question at the launch event for the Denza N9 flash charging edition on Monday evening, following rumors that his endorsement fee for Denza had reached 10 million yuan ($1.47 million).
Wang did not confirm the exact amount of the endorsement fee, nor did he specify whether he purchased BYD's Hong Kong-listed stock or mainland A-shares.
The highly influential singer said yesterday evening that he wanted to seize the investment opportunity in the leading EV maker.
During the event, Wang recalled his initial collaboration with BYD a decade ago and expressed regret for not investing in the company back then. He noted that if he had invested in BYD 10 years ago, that investment could have yielded a fivefold return by now.
He said that after gaining a deeper understanding of the Denza and BYD teams, he is full of confidence in BYD's long-term development and expects to be satisfied with his current stock purchase decision a decade from now.
Denza officially launched its flagship N9 flash charging edition last night Beijing time, with a starting price set at 409,800 yuan (about $60,290).
The large luxury SUV is equipped with BYD's latest second-generation Blade Battery and newest flash charging technology. It can boost its battery level from 10% to 70% in just five minutes, while taking only nine minutes in total to charge to 97%.
The plug-in hybrid model features a 75.3-kilowatt-hour battery pack, delivering a pure electric range of 420 kilometers under the CLTC standard. With a full tank and a full charge, the model boasts a comprehensive range of up to 1,520 kilometers.
The flagship SUV is equipped with a tri-motor drive system, achieving a combined output of 680 kilowatts, equivalent to a maximum power output of 912 horsepower. The large vehicle can accelerate from zero to 100 kilometers per hour in just 3.7 seconds.
Just two days before the new model's official launch, Denza celebrated its 16th brand anniversary and the roll-off of its 500,000th vehicle.
BYD's Hong Kong-traded shares have been sluggish this year, falling about 6% year-to-date.
($1 = 6.7974 yuan)
