"Xpeng Motors Group" Selected for Guangdong Province Strategic Emerging Industries Investment Guidance Fund's First Batch of Signed Projects | XinXing PORTFOLIO

Recently, the launch ceremony for Guangdong Province's Strategic Emerging Industries Investment Guidance Fund was held in Guangzhou. Provincial Party Secretary Huang Kunming and Deputy Party Secretary, Governor Meng Fanli attended the ceremony and unveiled the fund. Xpeng Motors was selected as one of the first batch of signatory projects, and Chairman and CEO He Xiaopeng delivered a keynote speech at the ceremony.

The Guangdong Strategic Emerging Industries Investment Guidance Fund has a total scale of 100 billion yuan, with an initial registered capital of 50 billion yuan. It is Guangdong's first perpetual corporate-style provincial government investment fund. Operating under the principles of "government guidance, market-oriented operation, and professional management," it will focus on investments in hard technology, aiming to catalyze a trillion-yuan industrial investment fund cluster and better accelerate the development of Guangdong's modern industrial system.

In his speech, He Xiaopeng stated: "The cultivation of strategic emerging industries cannot succeed without 'patient capital' that can span economic cycles. We need a long-term guidance fund that can stay calm and focus on the long view. Guangdong, and indeed the entire country, needs more quality enterprises that persist in independent R&D and deeply root themselves in technological innovation."

In his address, He Xiaopeng put forward four core theses on strategic emerging industries investment: first, maintain a long-cycle investment orientation; second, invest in technological innovation with higher R&D intensity to achieve truly high-quality development; third, invest upstream, at the root nodes, to ensure supply chain security and overall resilience; and fourth, build global-oriented layouts.

He specifically noted that whether in digital AI, physical AI, or bio AI, these technology domains share a common characteristic: they require long-term, steadfast, and substantial technological investment — demanding conviction, patience, execution capability, and investment intensity. A company's genuine R&D investment is precisely what determines whether it can achieve consistent long-term technological innovation. Xpeng Motors will continue to increase its investment in scientific research.

Deeply rooted in Guangdong, Xpeng Motors currently employs 29,000 people globally, with projected 2025 revenue of approximately 77 billion yuan and annual R&D expenditure exceeding 11 billion yuan, representing an R&D intensity of roughly 14%. The company has established systematic footprints in intelligent vehicles, embodied intelligence, and flying cars. Its self-developed Turing AI chip and the second-generation multimodal physical world large model VLA have already achieved mass production and application. It has built the world's first 10,000-unit-scale flying car mass production factory and a full-chain humanoid robot mass production base.

He Xiaopeng expressed that as one of the first enterprises to sign with the strategic guidance fund, he feels both honored and deeply responsible. Xpeng Motors will continue to firmly pursue the path of independent R&D and technological innovation, going all out to overcome core technical challenges in physical AI. With the support of the strategic guidance fund, it will make the low-altitude economy "fly," autonomous driving "run," and embodied intelligence "be put to use" — transforming core physical AI technologies into real, usable industrial scenarios.

Founded in 2022, Heart Capital is a venture capital fund focused on investing in early-stage Chinese technology startups.

Heart Capital's team is primarily composed of founding partners and core investors from Lightspeed, alongside seasoned investors from industry backgrounds. The team's past investments include MetaX (688802.SH), Xpeng Motors (NYSE: XPEV, 09868.HK), Full Truck Alliance (NYSE: YMM), Sunmi Technology (06810.HK), RoboSense (02948.HK), Ambiq Micro (NYSE: AMBQ), Hanshow Technology (301275.SZ), FinVolution (NYSE: FINV), Qimengdao Group (NASDAQ: HERE), as well as LandSpace, Micro-Nano Starry Sky, Baichuan, Yunmanman Cold Chain, World Logistics, Fan Deng Reading, and Lanhu.

Rooted in China with a global outlook, Heart Capital is dedicated to early-stage companionship and support for entrepreneurial teams with the potential to become world-class Chinese technology companies. Heart Capital champions the value of "heart," believing that technology can serve as a bridge connecting minds. Heart Capital looks forward to accompanying more young Chinese entrepreneurs onto the world stage.