Tencent increased its holding of Weilai automobile by nearly 3percent after ten million US dollars

category:Finance
 Tencent increased its holding of Weilai automobile by nearly 3percent after ten million US dollars


According to Weilai automobile, the proceeds from the IPO will be used in four aspects, of which about 30% will be used for research and development of products, services and technologies; about 15% will be used to develop the companys manufacturing facilities and supply chain; about 40% will be used for the companys sales and service network operation and development; and the rest will be used for general commercial purposes.

It is worth mentioning that Weilai automobile once again gets the support of Tencent, the old shareholder, whose voting right in Weilai automobile has reached 21.1%, second only to Li Bin, who continues to be the second largest shareholder of the company. As the companys gross profit margin is still negative, so far, the company has not achieved quarterly profit, and the companys book capital continues to be tight. The prospectus said that as of March 31 this year, the company had cash, cash equivalents and restricted cash of 2.048.2 billion yuan, and stressed that before the issuance of the new shares, the companys working capital and working capital were not enough to continue to operate within 12 months from the date of issuance. Our continued operation depends on our ability to obtain sufficient external equity or debt financing. In addition, the prospectus shows that as of March 31 this year, the total amount of long-term borrowings was about 1.0166 billion yuan, mainly including convertible notes and long-term bank debt. Source: Yang Bin, editor in charge of wall street news_ NF4368

It is worth mentioning that Weilai automobile once again gets the support of Tencent, the old shareholder, whose voting right in Weilai automobile has reached 21.1%, second only to Li Bin, who continues to be the second largest shareholder of the company.

As the companys gross profit margin is still negative, so far, the company has not achieved quarterly profit, and the companys book capital continues to be tight. The prospectus said that as of March 31 this year, the company had cash, cash equivalents and restricted cash of 2.048.2 billion yuan, and stressed that before the issuance of the new shares, the companys working capital and working capital were not enough to continue to operate within 12 months from the date of issuance. Our continued operation depends on our ability to obtain sufficient external equity or debt financing.

In addition, the prospectus shows that as of March 31 this year, the total amount of long-term borrowings was about 1.0166 billion yuan, mainly including convertible notes and long-term bank debt.