Li Bin responded to "Wei Lai and Hefei Gambling"

In response to the recent “NIO and Hefei gambling” that has been circulating on the Internet, Li Bin, CEO of NIO, participated in CCTV’s “Dialogue” program to refute the rumor that the industry guidance funds of Anhui and Hefei invested in NIO in 2020. , is very important to NIO. However, Weilai repurchased some shares in 2020 and 2021. The original value of the repurchased part was 1.5 billion yuan, and Weilai has paid back 7.5 billion yuan, so there is no problem of gambling failure.


Li Bin also said that Anhui used the return funds to set up a fund to support the development of the new energy vehicle and smart electric vehicle industry chain. Many companies have already invested in Hefei through this fund. Therefore, Anhui and Hefei, in terms of promoting industrial development through the capital, are very comprehensive and long-term thinking, not short-sighted gambling as everyone writes.


Previously, some media reported that a request was made during the negotiation process of Hefei’s investment in Weilai. Under certain circumstances, it has the right to ask Weilai to repurchase shares, with an amount of 7 billion yuan and an annual interest of 8.5%. These specific circumstances include: after receiving all the first phase of investment from the war investor, NIO China failed to complete the IPO within 60 months; after receiving the entire first phase of investment from the war investor, it did not submit an IPO application within 48 months.


In addition to IPO betting, there are performance commitments. Hefei Official Weibo once posted a Weibo: "Wei Lai China is expected to generate 14.8 billion yuan in revenue in 2020 (3 models listed), 120 billion yuan in 2024 (6-8 models listed), 2020-2025 The total revenue is 420 billion yuan, the total tax revenue is 7.8 billion yuan, and it will be listed on the Science and Technology Innovation Board by 2025.”


The financial report shows that in 2020 and 2021, Weilai will achieve revenue of 36.16 billion yuan and 16.26 billion yuan respectively. In other words, Weilai still needs to achieve nearly 367.6 billion yuan in revenue from this year to 2025.


In the previous short report of the Grizzlies, the betting and performance commitments of Weilai and Hefei were also mentioned. The Grizzlies report that the deal puts pressure on NIO to meet these goals, which will require aggressive growth in the coming fiscal years, a goal it believes is simply not achievable by normal means, while The gambling agreement is another motive for Weilai’s fictitious performance through Wuhan Weineng.


NIO said the Grizzlies short report contained numerous errors, unsubstantiated speculation, and misleading conclusions and explanations, and the company’s board, including its audit committee, was reviewing the allegations. Previously, NIO also established an independent committee established by three independent directors to supervise the independent investigation into the allegations in the Grizzly Bear Short Selling Report.

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