By the day before Evergrande Health issued a notice confirmed with Jia Yueting Pavilion on the new Energy car Project disputes, yesterday, Hong Kong equities Evergrande Health and Shenzhen Gem Company shares all fell sharply. By the end of yesterday afternoon, Evergrande's health had fallen by more than 16%, and the Lok net fell nearly 8%. In response to the accusations from evergrande, Faraday also responded yesterday, saying that the only reason the FF had lifted all the agreements was because Evergrande failed to realize its intentions and subsequently refused to pay the funds it had agreed to Pay.
Evergrande and Jia Yueting Pavilion aspects of each speech let outside also dazzling, perhaps this dispute will continue for some Time.
Market
Le video network, Evergrande Health share price fell sharply Yesterday morning, The music video network opened a 9.21% close to the fall, but then the stock rebounded, to the noon closing time, lok-net shares at 3.68 yuan/share, down 5.88%.
But in the afternoon, as the stock market weakened, the music net shares fell again, up to the close of 7.93%, reported to close at 3.6 yuan/share. The Lego net changed hand rate at 9.45% yesterday. Hong Kong's Evergrande health, which had benefited from a surge in future co-operation with faraday, fell 35.24% early yesterday, down more than 60% from its historic highs in late August. Then Evergrande's Health shares rebounded, especially in the wake of the Drive.
As at the close, Evergrande's Health fell by 16.38% to HK $8.78/share.
Response
FF says Evergrande refuses to pay its promised funds According to Evergrande Health's announcement the day before, Evergrande's subsidiary Shiying signed a merger and subscription agreement with the FF top company under the control of Jia Yueting Pavilion on November 30, 2017. Under the agreement, Evergrande invested $2 billion in three years, accounting for 45% of the joint venture, and Evergrande paid $800 million before the end of 2018 in advance of May 25, 2018.
Jia Yueting Pavilion half a year to run out of 800 million U.S. dollars, and to Evergrande put forward to pay $700 million in advance, not to achieve the purpose of arbitration, the need to deprive Evergrande the right to agree on financing and the lifting of all cooperation agreements. however, in the case of evergrande, the Faraday Future (FF) also issued a statement yesterday to Respond. Faraday said in November 2017 that Evergrande received a 45% per cent stake in the FF parent company for a $2 billion deal, and agreed to pay $800 million in early 2018 and pledged to pay the remaining $1.2 billion in the Future. Since then, FF has made great strides in driving the FF 91 delivery and mass production projects under the leadership of the founder and global CEO Jia Yueting pavilion, where production is Imminent.
however, in the near future, Evergrande unilaterally entered into a number of defaults on the terms of the investment contract with the FF parent company, and after many friendly representations and solemn urges, Evergrande refused to perform the performance without lawful basis, especially failing to fulfill the relevant financial commitments to FF on Time. The only reason for the FF to terminate all agreements is because Evergrande failed to realize its intentions and subsequently refused to pay the funds it had agreed to Pay. The future of Faraday said that, after paying the first $800 million, Evergrande offered to sign a supplemental Amendment agreement for the original investment agreement (the tripartite Agreement) in July 2018, and agreed to provide further financial protection to FF before the agreed date of the original contract, including the payment of 500 million of the remaining $1.2 billion within 2018 Years. Unlike Evergrande to the media and shareholders, no one, including Mr. Jia yueting, the global CEO of ff, has "manipulated" the board to reach a complementary agreement.
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Dynamic
Some of the bank accounts are frozen in the music video network
The company recently received a "civil award" that led to a freeze on some of the Company's bank accounts and holdings, as well as a stake in a subsidiary, according to a notice released late Yesterday. According to the announcement, Le Vision Sports in April 2016, the introduction of investors, signed the "b-round shareholder agreement" and "b-round financing agreement", more than 40 new investors to cash, debt-to-stock form of capital increase, investment funds amounted to 7.833 billion yuan. The company recently received the "civil award", the applicant for the Deqingkai sports, one of the new investors Jiao. The ruling resulted in the freezing of some of the Company's bank accounts and holdings and shareholding Subsidiaries.
A frozen bank account involving a frozen amount of 3.57 million yuan, if the company is ultimately determined to assume the responsibility of repurchase, litigation compensation, such as the failure of the company to comply with the relevant obligations, will result in the freezing of the holding and shareholding subsidiaries of the legal disposition, which may lose the relevant controlling subsidiaries or shareholding subsidiaries control rights, shareholder rights RISK. In the announcement, the company also stated that, according to the current knowledge of the corporation, the matters mentioned in this ruling did not perform the examination and approval of the listed companies ' articles of incorporation and relevant laws and regulations, and the legal effect of the proceedings was Doubtful.