Share with friends and circle of friends with wechat scan QR code < / P > < p > < p > < p > < p > according to two people familiar with the matter, Xiaopeng, an electric vehicle manufacturer listed in New York, has been approved to conduct its second initial public offering (IPO) in Hong Kong, and is likely to raise funds as soon as this year, with a plan to raise as much as $2 billion < p > Xiaopeng was approved by the Listing Committee of Hong Kong Exchanges and Clearing Limited (HKEx), according to people familiar with the matter. But with the negotiation, the listing details are still likely to change. A spokesman for Xiaopeng declined to comment. It is reported that Xiaopeng has hired JPMorgan Chase, Bank of America Merrill Lynch and Credit Suisse as underwriters of the issue. These investment banks helped Xiaopeng complete the listing in the United States in August 2020 < p > the listing in Hong Kong is less than one year from Xiaopeng's listing in the United States, which is a dual listing. Therefore, the company needs to be jointly supervised by the securities and Exchange Commission of the United States (SEC) and the securities and Futures Commission of Hong Kong (SFC). Dual listing is a more stringent listing process than the second listing. In the second listing, the regulator of the first listing place has the main regulatory power < p > while competing with New York, Shanghai and Shenzhen for the world's preferred IPO destination, the dual listing mechanism of HKEx has added new advantages to attract corporate financing. In the past 12 years, Hong Kong has won the title of "the world's preferred IPO destination" for seven years. According to the data compiled by refinitiv, in the first quarter of 2021, NASDAQ took the title away from Hong Kong. In the first three months of this year, 81 companies went public, almost three times as many as the 29 IPO companies on the main board of the Hong Kong stock exchange After two months of public consultation, the Hong Kong Stock Exchange has formulated a dual listing mechanism. The mechanism provides that if the two listed companies delist from the United States, they can transfer their main listing location to Hong Kong without changing their ownership structure. This regulation provides more convenience for offshore listed companies. Not only can it hedge the risk of being removed from us exchanges, but it can also help them attract investors closer to home < p > stocks listed in Hong Kong can enter the so-called stock connect cross-border investment channel more quickly, which allows enterprises to obtain funds from mainland investors and institutions more quickly. Listing in the United States has helped Xiaopeng raise a lot of money. After raising $1.72 billion in New York's IPO in August last year, the company acquired another $2.5 billion from investors in December last year by placing shares < p > the new listing mechanism also raises much-needed funds for Xiaopeng in China, the world's largest automobile market, and provides greater support for its electric vehicle R & D and production. Xiaopeng's shareholders include Alibaba and Lei Jun, founder of Xiaomi. Since its IPO in August 2020, Xiaopeng has opened its own factory in Zhaoqing City, Guangdong Province, and announced the construction of a factory in Wuhan to enhance its OEM assembly business in Zhengzhou, Henan Province < p > Xiaopeng also began to export electric vehicles to Norway. The company recently announced a new plan to install lidar sensors on its P7 all electric coupe, making it the world's first passenger car to use optical based radar to improve its automatic driving accuracy < p > in March this year, Xiaopeng automobile completed the 3675 km automatic driving from Guangzhou to Beijing. The company said the frequency of human intervention was 0.65 per 100 km, based on data obtained from the vehicles on the road for six days. During this period, the success rate of lane change and overtaking of Xiaopeng vehicles ranged from 86.05% to 97.91%, the success rate of ramp access of expressways ranged from 83.76% to 96.93%, and the success rate of passing through tunnels was as high as 100% < p > in November 2020, compared with the IPO price, Xiaopeng's share price soared 381% to a high of US $72.17 per share, but since then it has fallen about 44%, and its market value has dropped to about US $32 billion. Xiaopeng is also facing fierce competition in China. Its competitor Weilai and ideal also plan to list in Hong Kong. Both companies are listed in the United States < p > < / P > < p > Xiaopeng has not yet made a profit, and promises to achieve break even by the end of 2023 or 2024. However, the company's revenue has been growing, rising to 2.95 billion yuan in the first quarter of this year, and its delivery volume in May increased 483% year on year（ Small) < / P > < p >