Tencent's "One Line" by Fang Fang
On April 11th news, LeTV Holdings Limited wrote back today that Ruizhi Smart Car (Guangzhou) Co., Ltd. is a affiliate of Faraday Future ("FF"quo.), two companies and LeTV Holdings. There is no legal relationship between the system and LeTV.
At the same time, LeTV Holdings first exposed FF financing from Hong Kong investment institutions, while Jia Yueting did not obtain any funds through FF financing. The reply shows that FF affiliate Ruichi Motors bought land in Nansha, Guangzhou, and the funds came from strategic investors.
On April 8, according to the official website of the Guangzhou Municipal Public Resource Trading Center, Rui Chi Motors photographed a 400,000 square meter manufacturing site in Nansha District of Guangzhou City for 364 million yuan. Ruichi Automobile was accused of affiliating Jia Yueting and FF. The Shenzhen Stock Exchange requested LeTV to verify the relationship between Jia Yueting and its affiliates and Rui Chi Motors, as well as the source of funds. LeTV has issued an inquiry letter to Jia Yueting and LeTV Holdings.
LeTV Holdings stated in its reply letter that FF is an Internet travel eco-enterprises Jia Yueting invested and established in the United States in the early days, and Rui Chi Motors is an affiliate of FF. There is no legal relationship between the two companies and the Levision holding system controlled by Jia Yueting and it is completely independent. Leshi Holding also pointed out that all of Ruichi Auto's land auction proceeds came from the investment of FF strategic investors, and there was no relationship with the related payment between LeTV and LeTV Holdings.
In addition, Leshi Holdings also disclosed for the first time that FF Strategic Investors are Hong Kong investment institutions. In this round of financing, Jia Yueting did not sell any equity and did not receive any funds. LeTV Holdings stated that FF operates in accordance with international legal norms and corporate governance structure, and Jia Yueting serves as CEO of FF's global business. Previous reports have disclosed that FF investors have sent financial staff to the company to monitor the use of each fund.
In fact, although 2017 FF was affected by LeTV’s debt crisis, many domestic and foreign investment institutions still went to FF to conduct due diligence or investment negotiations. Informed sources said that investors from around the world such as India, Thailand, South Korea, and France expressed their intention to