AutoBeta(AutoBeta.net)09/16 Report--

Recently, a new item of information about the person subject to execution has been added to Jia Yueting's name, and the object of execution is 456 million yuan. Case number (2021) Yue03 holds No. 7418, the enforcement court is Shenzhen Intermediate people's Court, and the related case is a dispute over financial loan contract, specifically the case of Ping an Bank Co., Ltd. Shenzhen Branch and Letv Sports and Cultural Industry Development (Beijing) Co., Ltd. Letv Holdings (Beijing) Co., Ltd., Jia Yueting Financial loan contract dispute. At present, Jia Yueting is associated with 12 pieces of information about the person subject to execution, with a total amount of more than 9.48 billion yuan.

On Sept. 12, the 141 million shares held by the Jia Yueting brothers ended their public auction. It is understood that 141 million Leeco shares were divided into eight tenders, of which four were successfully auctioned for 44.1 million shares, with a corresponding price of 82.9521 million yuan. A total of 96.59 million shares of the remaining four equity targets have been declared unsuccessful. Compared with the cumulative amount of money executed by Jia Yueting, the cash flow from this auction is the tip of the iceberg. As early as January this year, 30 million of Jia Yueting's property was auctioned, and in July, "Shimaogong III" owned by Jia Yueting was auctioned at a "jump price". Shimaogong 3 is located in the heart of Sanlitun business district. Letv bought it for 2.972 billion yuan in 2016 and held its first auction in 2019. The starting price was 2.302 billion yuan, went through four failed auctions, and finally sold for 1.645 billion yuan, nearly halving the price. On September 9, the Lerong Building, once Letv's headquarters, was auctioned, with a starting price of 570 million yuan, and finally suspended the auction due to dissent from outsiders.

It is not difficult to see that if Jia Yueting wants to pay off the debt as soon as possible, it seems that it is more reliable to build a car to pay off the debt. On July 22nd, Faraday, founded by Jia Yueting, was listed on Nasdaq in the future. The stock symbol is "FFIE". After the launch of FFIE, FF got a lot of good news. First, a limited edition of 300 FF 91 units had been sold out. In addition, it was announced that it had completed 3653 kilometers of long-distance road testing in the United States, long-distance road testing and durability testing of battery and powertrain components. But FF is not doing as well as Jia Yueting thought, with a cumulative net loss of $289 million between 2019 and 2020, according to a financial report released by FF. It said the loss was expected to last until 2022, with a cumulative loss of $1.217 billion.

For Jia Yueting, the greatest significance of Faraday's future listing may be to ease the financial pressure. Jia Yueting also said in an interview with the media after Faraday's future listing that Faraday's future listing means a new starting point, brings an important capital flow to the company, and then will go all out to achieve mass production and delivery of cars in 12 months, and has great confidence in FF91's on-time production. As to whether he will return to China, Jia Yueting said: "that's a must!" It is understood that Faraday has planned three models of FF91, FF81 and FF71 in the future, of which the FF91 is the most high-end, with an expected starting price of $100000 and is expected to be launched a year later. Aimed at the upmarket mass market, FF81 is expected to start mass production 18 months after the launch of the FF91, with a target starting price of $59000. The third model, the FF71, which is aimed at the mass market, is expected to be designed and developed in 2022, with a starting price of $45000. Jia Yueting said, "I hope to become the top of the top market and have the confidence to subvert Maybach, Ferrari and Bentley."

As the key for Jia Yueting to solve the debt, it will also be the future creation of FF, which to a certain extent determines whether Jia Yueting's "return to China" can be realized. The listing of FF also means investors' expectations and recognition of its development prospects, but from the sharp decline in its stock price after listing, it also shows that investors have a wait-and-see mentality and misgivings at the same time. If FF91 does not mass-produce the line as soon as possible, Faraday's future situation will also be very difficult.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat