On June 25, Evergrande Group’s Hong Kong-listed Evergrande Health Announcement stated that the company acquired 100% of Hong Kong Shiying Company for HK$6.746 billion (approximately RMB 5.633 billion) and indirectly obtained a 45% stake in Smart King. Become the company's largest shareholder.
The seller is Zhongdu Group (00985.HK) Chairman and Executive Director Zhao Du. Smart King is a joint venture between Shiying Company and the original shareholders of Faraday Future. Faraday Future is the automobile company founded by Jia Yueting, and Smart King is wholly-owned. FF US' and 'FF Hong Kong'.
On the same day, Faraday Future announced through official Weibo that it officially passed the US government CFIUS (Foreign Investment Committee) approval, completed the first round of financing of 2 billion US dollars, founder Jia Yueting as CEO.
FF said that as an investor, FF officially welcomed Evergrande Health as a new strategic investor, and expects both sides to radiate globally with China-US dual-home, and jointly build the next generation of shared intelligent travel ecology.
In the past, Sun Hongbin took 15 billion yuan to quickly rescue the LeTV network (300104), which was caught in the capital chain break. After Xu Jiayin, Jia Yueting invested 6.746 billion Hong Kong dollars in Jia Yueting's personal FF car.
In January 2017, Sun Hongbin took a stake of 15 billion yuan into LeTV, LeTV and Sanshi Films. Lutron acquired 8.61% of LeTV, 33.5% of Lexus and 15% of LeTV, becoming the three The company's second largest shareholder, and the presence of directors and financial staff. LeTV and LeTV Pictures, Leshi Zhixin became an associate of Sunac China. So far, Jia Yueting has obtained at least 206.33 from the two real estate developers of Sunac and Evergrande. 100 million yuan in financing.
According to Evergrande Health's announcement, on November 30, 2017, Hong Kong Shiying Company and FF's original shareholder, represented by Jia Yueting, established a new company, Smart King, in a joint venture mode. Shiying invested US$2 billion to acquire 45% of the joint venture company. Equity, while the original shareholder of FF acquired the 33% equity of the joint venture company with the technical assets and business shares owned by FF, and the remaining 22% equity will be reserved for the company employees as equity incentives.
According to the merger agreement, Shiying has paid an investment of 800 million U.S. dollars, and the remaining 1.2 billion U.S. dollars will be paid $600 million each on December 31, 2019 and December 31, 2020.
It is worth noting that 澎湃News (www.thepaper.cn) was informed that if Jia Yueting could not deliver the first batch of FF vehicles in the first quarter of 2019, there would be a breach of contract. Jia Yueting will lose control of Smart King. According to the announcement, Shiying will appoint two directors of Smart King. Among them, Vice President, President and Executive Director of Evergrande, Xia Haijun will serve as Chairman of Smart King, and Evergrande Health Chairman and Executive Director will be the director of Smart King. .
In other words, as long as Jia Yueting can deliver FF vehicles on time according to the content of the agreement, Evergrande will continue to invest in the following two investments, with a total investment of 2 billion US dollars.
Faraday Future, an electric car company, was founded in 2014. Jia Yueting, the founder of LeTV, is the main founder. After the outbreak of the Lexmark capital chain crisis at the end of 2016, Jia Yueting resigned as the general manager of LeTV (300104), chairman of the board, and left in July 2017. In the United States, it has turned its personal energy into the car-making business that has been accused of dragging its money chain and becoming the CEO of FF.
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On June 25, Evergrande Health (00708.HK), a Hong Kong-listed Evergrande Group, announced that it acquired 100% of Hong Kong Shiying Company for HK$6.746 billion (approximately 5.633 billion yuan) and indirectly obtained Smart King. 45% of the shares, become the company's largest shareholder.
The seller is Zhongdu Group (00985.HK) Chairman and Executive Director Zhao Du. Smart King is a joint venture between Shiying Company and the original shareholders of Faraday Future. Faraday Future is the automobile company founded by Jia Yueting, and Smart King is wholly-owned. FF US' and 'FF Hong Kong'.
On the same day, Faraday Future announced through official Weibo that it officially passed the US government CFIUS (Foreign Investment Committee) approval, completed the first round of financing of 2 billion US dollars, founder Jia Yueting as CEO.
FF said that as an investor, FF officially welcomed Evergrande Health as a new strategic investor, and expects both sides to radiate globally with China-US dual-home, and jointly build the next generation of shared intelligent travel ecology.
In the past, Sun Hongbin took 15 billion yuan to quickly rescue the LeTV network (300104), which was caught in the capital chain break. After Xu Jiayin, Jia Yueting invested 6.746 billion Hong Kong dollars in Jia Yueting's personal FF car.
In January 2017, Sun Hongbin took a stake of 15 billion yuan to LeTV. LeTV and Xinshi Films were the three companies. Sunac won 8.61% of LeTV, 33.5% of LeTV, and 15% of LeTV. The company's second largest shareholder, and the presence of directors and financial staff. LeTV and LeTV Pictures, Leshi Zhixin became an associate of Sunac China. So far, Jia Yueting has obtained at least 206.33 from the two real estate developers of Sunac and Evergrande. 100 million yuan in financing.
According to Evergrande Health's announcement, on November 30, 2017, Hong Kong Shiying Company and FF's original shareholder, represented by Jia Yueting, established a new company, Smart King, in a joint venture mode. Shiying invested US$2 billion to acquire 45% of the joint venture company. Equity, while the original shareholder of FF acquired the 33% equity of the joint venture company with the technical assets and business shares owned by FF, and the remaining 22% equity will be reserved for the company employees as equity incentives.
According to the merger agreement, Shiying has paid an investment of 800 million U.S. dollars, and the remaining 1.2 billion U.S. dollars will be paid $600 million each on December 31, 2019 and December 31, 2020.
It is worth noting that 澎湃News (www.thepaper.cn) was informed that if Jia Yueting could not deliver the first batch of FF vehicles in the first quarter of 2019, there would be a breach of contract. Jia Yueting will lose control of Smart King. According to the announcement, Shiying will appoint two directors of Smart King. Among them, Vice President, President and Executive Director of Evergrande, Xia Haijun will serve as Chairman of Smart King, and Evergrande Health Chairman and Executive Director will be the director of Smart King. .
In other words, as long as Jia Yueting can deliver FF vehicles on time according to the content of the agreement, Evergrande will continue to invest in the following two investments, with a total investment of 2 billion US dollars.
Faraday Future, an electric car company, was founded in 2014. Jia Yueting, the founder of LeTV, is the main founder. After the outbreak of the Lexmark capital chain crisis at the end of 2016, Jia Yueting resigned as the general manager of LeTV (300104), chairman of the board, and left in July 2017. In the United States, it has turned its personal energy into the car-making business that has been accused of dragging its money chain and becoming the CEO of FF.
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