AutoBeta(AutoBeta.net)09/04 Report--

On Sept. 3, FF announced that founder Jia Yueting would resign as CEO to become CPUO (Chief Product and user Officer) and appoint Bi Fukang, former chairman of Baiteng, as FF global CEO. At the same time, FF also said that founder Jia Yueting will join hands with Bi Fukang to build a stronger product technology and global management team, and will continue to promote changes in the top-level governance architecture.

For Jia Yueting resigned from CEO,FF insiders revealed that about a year ago the internal brewing partner's system, top-level governance structure changes. At the beginning of this change, Jia Yueting was determined to resign from CEO, because only in this way can more outstanding talents be attracted to the company. Jia Yueting resigned from CEO to become CPUO, and Bi Fukang became global CEO, which is a very suitable combination. The combination of the two is helpful to the development of FF. In terms of promoting the mass production of FF91, the combination of strong and strong is of great help to our company's dream of a century-old automobile industry.

Jia Yueting, who left office, said on Weibo that "the only reason to give up everything is to make the FF and repay the remaining secured debt as soon as possible." At present, Jia Yueting himself and FF Company are facing a lot of difficulties, mainly about "money".

Jia Yueting also announced the establishment of a personal debt repayment trust fund as a domestic debt repayment fund, which is financed by his equity in FF. If FF can turn things around or even go public, his debt-repayment trust fund will be enough to pay off the rest of his debt at home.

Letv issued an announcement on September 4 to disclose the progress of the suspension of the company's stock listing. Letv said that so far, the debt handling team of major shareholders and their related parties have not come up with a complete and enforceable plan, and listed companies have not received any cash as a result of debt solutions for major shareholders and their related parties.

According to relevant media reports, Jia Yueting has repaid 21.8 billion yuan of debt by realizing assets and other means, but Letv said that the refund has not yet been received. Leeco said that the company's management is negotiating and negotiating with related parties in the unlisted system on debt issues, and insists on stepping up efforts to recover debt repayment from major shareholders and their related parties. major shareholders and their related parties are required to be responsible for the situation in which the company is unable to move today and take feasible remedial measures.

According to Letv's semi-annual report, as of the end of June this year, notes payable and accounts payable within the scope of the company's consolidated statements were 3.203 billion yuan, mainly due to arrears due to suppliers and service providers; long-term and short-term loans totaled 555 million yuan, and other current liabilities totaled 3.304 billion yuan. It is mainly caused by the company's borrowing from financial institutions and non-financial enterprises.

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