<SEC-DOCUMENT>0001193125-23-231900.txt : 20231117
<SEC-HEADER>0001193125-23-231900.hdr.sgml : 20231117
<ACCEPTANCE-DATETIME>20230911060559
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-231900
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XPENG INC.
		CENTRAL INDEX KEY:			0001810997
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		NO. 8 SONGGANG ROAD, CHANGXING STREET
		STREET 2:		CENCUN, TIANHE DISTRICT
		CITY:			GUANGZHOU, GUANGDONG
		STATE:			J0
		ZIP:			510640
		BUSINESS PHONE:		86-020-6680-6680

	MAIL ADDRESS:	
		STREET 1:		NO. 8 SONGGANG ROAD, CHANGXING STREET
		STREET 2:		CENCUN, TIANHE DISTRICT
		CITY:			GUANGZHOU, GUANGDONG
		STATE:			J0
		ZIP:			510640
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<TITLE>CORRESP</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">September&nbsp;11, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Via EDGAR </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Christopher Dunham and
Ms.&nbsp;Jennifer Gowetski </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Program </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and
Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C.
20549 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States of America </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>XPeng Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">20-F</FONT> for Fiscal Year Ended December&nbsp;31, 2022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>Filed April&nbsp;12, 2023 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;001-39466</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Dunham and Ms.&nbsp;Gowetski: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter is in response to the comment letter from the staff (the &#147;<B>Staff</B>&#148;) of the Division of Corporation Finance of the
United States Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;), dated August&nbsp;31, 2023, relating to the annual report of XPeng Inc. (&#147;the <B>Company</B>&#148;) on Form <FONT STYLE="white-space:nowrap">20-F</FONT> for
the fiscal year ended December&nbsp;31, 2022 (the &#147;<B>2022 Form <FONT STYLE="white-space:nowrap">20-F</FONT></B>&#148;), which was filed with the Commission on April&nbsp;12, 2023. The Company expresses its appreciation to the Staff for taking
time to review the 2022 Form <FONT STYLE="white-space:nowrap">20-F,</FONT> and for providing the helpful comments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To facilitate the
Staff&#146;s review, we have included in this letter the caption and comment from the Staff&#146;s comment letter in bold text and have provided the Company&#146;s response immediately following each comment. The page numbers in the responses refer
to the page numbers appearing on the bottom of 2022 Form <FONT STYLE="white-space:nowrap">20-F.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form
<FONT STYLE="white-space:nowrap">20-F</FONT> for the Fiscal Year Ended December&nbsp;31, 2022 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;16I. Disclosure Regarding Foreign
Jurisdictions that Prevent Inspections, page 158 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note the certification by your Chair and CEO attached as Exhibit 15.3 in connection with your required
submission under paragraph (a) (the &#147;Certification&#148;). Please supplementally describe any materials that were reviewed and tell us whether you relied upon any legal opinions or third party certifications such as affidavits as the basis for
your submission. In your response, please provide a similarly detailed discussion of the materials reviewed and legal opinions or third party certifications relied upon in connection with the required disclosures under paragraphs (b)(2) and (3).</B>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully submits that as to paragraph (a), (b)(2) and (b)(3) of Item 16I of the Form
<FONT STYLE="white-space:nowrap">20-F,</FONT> the Certification has been made based on the review of (A)&nbsp;the Company&#146;s Eighth Amended and Restated Memorandum of Association (the &#147;<B>Memorandum of Association</B>&#148;); (B) the
Company&#146;s register of members (the &#147;<B>Register of Members</B>&#148;); and (C)&nbsp;the Schedules 13D and/or 13G filed by the beneficial owners of the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-1- </P>

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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Program</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Mr. Christopher Dunham and Ms. Jennifer Gowetski</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">-2- </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Memorandum of Association provided that, subject to certain exceptions and conditions,
each Class&nbsp;B ordinary share of the Company shall entitle the holder thereof to ten votes, and each Class&nbsp;A ordinary share of the Company shall entitle the holder thereof to one vote on all matters subject to vote at general meetings of the
Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Register of Members showed that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">as of March&nbsp;31, 2023, the Company&#146;s total number of ordinary shares outstanding was 1,725,550,996,
comprising 1,376,842,739 Class&nbsp;A ordinary shares and 348,708,257 Class&nbsp;B ordinary shares (excluding 949,986 Class&nbsp;A ordinary shares issued to our depository bank for bulk issuance of ADSs and reserved for future issuance upon the
exercise or vesting of awards granted under our 2019 Equity Incentive Plan); and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Respect Holding Limited and Simplicity Holding Limited collectively are the record owners of all Class&nbsp;B
ordinary shares of the Company. </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Xiaopeng HE (&#147;<B>Mr.</B><B></B><B>&nbsp;He</B>&#148;) is the sole legal
and beneficiary owner of each of Respect Holding Limited and Simplicity Holding Limited, which in turn collectively hold all Class&nbsp;B ordinary shares of the Company. Therefore, together with his shareholding in 4,400,000 Class&nbsp;A ordinary
shares through Simplicity Holding Limited, Mr.&nbsp;He is entitled to 71.8% of the voting power of our total issued and outstanding shares, and the Company is controlled by Mr.&nbsp;He, instead of any governmental entity in any jurisdiction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In addition, the Certification was also made based on review of the following documents (the &#147;<B>Schedules 13D and/or 13G</B>&#148;): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Schedule 13D jointly filed by Alibaba Group Holding Limited and Taobao China Holding Limited on
September&nbsp;7, 2020, </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Schedule 13G jointly filed by Pacific Rays Limited, Shanghai Keji Enterprise Management Partnership (LLP),
Tianjin Hexie Qingyu Investment Management Partnership (LLP), Xizang Qingyu Venture Capital Management Co., Ltd., Kuiguang Niu, Dongliang Lin, Fei Yang and Jingbo Wang on February&nbsp;10, 2021; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Schedule 13G filed jointly by Mr.&nbsp;He and Simplicity Holding Limited on February&nbsp;10, 2021;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Schedule 13G jointly filed by Mr.&nbsp;Heng XIA and Efficiency Investment Limited on February&nbsp;10, 2021;
and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Schedule 13G jointly filed by TMT General Partner Ltd., Morningside China TMT GP IV, L.P., Morningside China
TMT Fund IV, L.P., Morningside TMT Holding IV Limited, Morningside China TMT Special Opportunity Fund II, L.P., Morningside Special IV Hong Kong Limited, 5Y Capital GP Limited, Evolution Fund I <FONT STYLE="white-space:nowrap">Co-investment,</FONT>
L.P., Evolution Special Opportunity Fund I, L.P., Shanghai Xingpan Investment Management Consulting Co., Ltd., Shanghai Chenxi Venture Capital Center (Limited Partnership), CX TMT Holding IV Limited on February&nbsp;16, 2021. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>

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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Program</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Mr. Christopher Dunham and Ms. Jennifer Gowetski</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">-3- </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Based on review of such Schedules 13D and/or 13G together with the Registered of Members,
none of the principal shareholders of the Company is owned or controlled by a governmental entity in a foreign jurisdiction, and no governmental entity in any jurisdiction has made any such filing with respect to its beneficial ownership as to the
securities of the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">As such, based on the review of the documents above and to the best of the Company&#146;s knowledge, it is
respectfully submits that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">as to Paragraph (a)&nbsp;of Item 16I, the Company is not owned or controlled by a governmental entity in a
foreign jurisdiction; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">as to Paragraph (b)(2) of Item 16I, no governmental entity in Cayman Islands, being the jurisdiction in which the
Company is incorporated, holds any share in the Company; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">as to Paragraph (b)(3) of Item 16I, no governmental entity in the PRC has a controlling financial interest with
respect to the Company; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the Company did not rely upon any legal opinions or third party certifications such as affidavits as the basis of
this submission. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>In order to clarify the scope of your review, please supplementally describe the steps you have taken to
confirm that none of the members of your board or the boards of your consolidated foreign operating entities are officials of the Chinese Communist Party. For instance, please tell us how the board members&#146; current or prior memberships on, or
affiliations with, committees of the Chinese Communist Party factored into your determination. In addition, please tell us whether you have relied upon third party certifications such as affidavits as the basis for your disclosure.</B>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully submits that the Company enquired each member of the board of directors of the Company and each of its consolidated
foreign operating entities (each a &#147;<B>Relevant Director</B>&#148;, collectively &#147;<B>Relevant Directors</B>&#148;) to determine whether a Relevant Director is or has been an official of the Chinese Communist Party. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Based on the confirmation from each of the Relevant Directors, the Company confirmed that none of the Relevant Directors is an official of the
Chinese Communist Party and did not rely on any other third party certifications. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your statement under Item 16I that your consolidated foreign operating entities are incorporated or
otherwise organized in the PRC. However, the list of subsidiaries in Exhibit 8.1 appears to indicate that you have subsidiaries outside the PRC. Please provide the disclosures required under Item 16I(b) for yourself and your consolidated foreign
operating entities in your supplemental response, or tell us how your current disclosure meets this requirement. </B></P></TD></TR></TABLE>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Program</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Mr. Christopher Dunham and Ms. Jennifer Gowetski</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">-4- </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully submits that the significant subsidiaries incorporated in jurisdictions other than the PRC, as they are included in
Exhibit 8.1 to the 2022 Form <FONT STYLE="white-space:nowrap">20-F</FONT> (the &#147;<B>Offshore</B> <B>HoldCos</B>&#148;), merely serve investment holding purposes and are not <I>operating</I> entities. That said, the Company holds all of the
issued and outstanding shares of the Offshore HoldCos or that of the intermediate entities that hold all of the issued and outstanding shares of the Offshore HoldCos. Therefore, no PRC governmental entity owns any controlling financial interest or
controlling shareholding in the Offshore HoldCos. It is further submitted that none of the members of the board of directors of the Offshore HoldCos is an official of the Chinese Communist Party, and the articles of incorporation (or equivalent
organizing document) of the Offshore HoldCos do not contain any charter of the Chinese Communist Party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Disclosure Review Program</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Mr. Christopher Dunham and Ms. Jennifer Gowetski</P></TD>
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<TD VALIGN="top"></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">-5- </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you have any questions or wish to discuss the foregoing, please contact us or the
Company&#146;s U.S. counsel, Mr.&nbsp;Ching-Yang Lin of Sullivan&nbsp;&amp; Cromwell (Hong Kong) LLP at <FONT STYLE="white-space:nowrap">+852-2826-8606</FONT> or via <FONT STYLE="white-space:nowrap">e-mail</FONT> at linc@sullcrom.com. Please send
written correspondence relating to this submission by email. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Very truly yours,</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Yeqing Zheng</P></TD></TR>
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<TD VALIGN="top">Yeqing Zheng</TD></TR>
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<TD VALIGN="top">General Counsel</TD></TR>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Ching-Yang Lin, Esq., Partner </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(Sullivan&nbsp;&amp; Cromwell (Hong Kong) LLP) </P>
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