current position:Home>FF "stepping on the spot" to hand in Q3 financial report, how trustworthy can the flag of timely car delivery be?

FF "stepping on the spot" to hand in Q3 financial report, how trustworthy can the flag of timely car delivery be?

2022-05-07 20:32:4136kr

Jia Yueting's microblog news has finally been updated , except IP It shows that Beijing has made “ Pretending to return home ” My own Oolong , Faraday's future Faraday Future(FF) Late 2021 The results of the third quarter of 2014 can obviously arouse the interest of public opinion .

5 month 6 Japan ,FF Release 2021 Third quarter results of the year , By 2021 year 9 month 30 Japan ,FF Operating expenses in the third quarter were 1.86 Billion dollars , The same period last year was 1800 Thousands of dollars . Official explanation , Operating expenses have increased significantly , Mainly because the Hanford manufacturing plant in California has increased investment to prepare for full-scale commercial production .

By 2021 year 9 month 30 Japan ,FF The balance of cash and cash equivalents is 6.66 Billion dollars . By 2022 year 3 month 31 The cash balance on the day is 2.76 Billion dollars , These include 9700 Planned repayment of $million notes and accrued interest .

This financial report should have been released last year , Once let FF encounter “ Delisting warning ”. The release of the financial report , Also by FF The global CEO Bi Fukang thought it was FF“ An important step in restoring normal commit status ”, Jia Yueting is also known as “ One step closer to realizing the original vision .”

According to plan ,FF Will be in 5 Submitted in mid June 2022 After the first quarter results of , Hold a telephone conference open to investors . meanwhile FF Once again, the delivery time , Expressed confidence in delivering... In the third quarter of this year FF 91.

Everything seems to be moving in the right direction , However, the nightmare of Faraday's future stock price fusing twice still exists , Jia Yueting was also dismissed as the executive officer of the company . besides , Ticket skipping has become the norm of this enterprise , People are used to not having any expectations ,FF Do you and Jia Yueting have a chance to be ashamed before the snow ?

01  Net loss exceeds 3 Billion dollars , Still recruiting on a large scale

before FF Due to failure to submit on time 2021 Annual financial report ,4 month 4 We have received a regulatory letter from Nasdaq on the th , if 5 month 6 The required documents have not been submitted recently , The company may receive delisting notice , That's why FF Will choose 5 month 6 Daily performance report .

By 2021 year 9 month 30 Japan ,FF The net loss in the third quarter was 3.04 Billion dollars , The net loss for the same period last year was 3300 Thousands of dollars , Loss continues to grow .

Before that , By 2021 In the first half of 、2020 In the year 、2019 In the year ,FF Net loss respectively 1.283 Billion dollars 、1.471 $and 1.422 Billion dollars . The accumulated losses are 25.194 Billion dollars 、23.911 $and 22.441 Billion dollars , The net cash used in operating activities is 5230 Thousands of dollars 、4120 Ten thousand dollars sum 1.898 Billion dollars . and FF The working capital deficits are 7.759 Billion dollars 、8.353 $and 6.882 Billion dollars .

at present FF The accumulated losses have exceeded 10 billion , And in the foreseeable future , There will still be significant operating losses .

Although losses continue , But the pace of recruitment didn't stop .

Results show that , The third quarter ,FF Employ Matt Tall Vice president of manufacturing , Responsible for leadership FF All aspects of production and manufacturing , Liu Yuchao was hired as FF Senior vice president of supply chain in China . He will help FF Push FF 91 Production and delivery of .

besides , Also hired new leadership members , Including senior director of energy storage and charging ; Software Engineering 、ADAS And the head of autopilot ; Person in charge of vehicle quality, etc .

Results show that ,FF Has been officially with the South Korean based carmaker Myoung Shin Co., Ltd. Contract to manufacture Faraday Future The second car FF 81,FF 81 Plans to 2024 year SOP.

In the earnings report , Bi Fukang talked about the previous investigation of the company by the special committee , He said , The board accepted the findings , The implementation of remedial measures is proceeding smoothly .“ I believe this review and the changes we have made will help us build a stronger 、 Better companies .”

source :FF Official website

According to plan ,FF It will be delivered in the third quarter of this year FF 91, Bi Fukang said , At present, great progress has been made in the construction of Hanford manufacturing plant , The construction of production area is advancing as planned , Achieved a path to SOP The first four milestones , Confident in delivering as planned .

Hanford manufacturing plant covers an area of about 110 Ten thousand square feet , After completion, it is expected to be able to support the production of 10000 cars per year .FF Express , At present, it has officially obtained the license for the special pre production area of Hanford manufacturing factory , It also means that FF Has been allowed to carry out key construction activities , Including manufacturing more quasi mass production vehicles in the factory .

By 2022 year 3 month 31 Japan ,FF The car reservation volume is 401 car . at present , booking FF 91 Futurist Alliance, U.S. users need to pay 5000 Dollar deposit , Chinese users need to pay 50000 Yuan deposit . booking FF 91 Futurist, U.S. users need to pay 1500 Dollar deposit , Chinese users need to pay 20000 Yuan deposit .

Besides , The financial report also announced that Qmerit Our cooperation plan ,Qmeri As the largest electric vehicle in the United States Charging network Contact the installation supplier .FF And Qmerit cooperation , To meet the future FF 91 Users' home charging needs and other future energy related installation service needs .

FF The statement in the financial report , Full of prosperity , But back to FF The nature of the problem , There is no convincing reason .

02 “ De Jiahua ” Irreparable FF

from “ Come back next week ” Until he is too late to pay the financial report ,FF And Jia Yueting are always challenging people's bottom line , It's also hard to look forward to its commitment .

last year 10 month , Us short agencies J Capital Research Published a report on FF The sell out report of , This is as long as 28 Page report , from FF Production capacity of the company 、 The state of R & D investment and the punishment Jia Yueting suffered expressed their views on FF The question of . Finally come to a conclusion :FF In the end, no car can be sold .

Although Jia Yueting should be short, the report belongs to cold rice and hot speculation , But the short report page was torn off FF The last cover .

This year, 2 month , The Faraday future special committee said the short report was untrue , But admitted that the company had previously released more than 1.4 copies FF 91 Pre order quantity of vehicles “ Misleading ”, Because there are only hundreds of orders booked and paid . So , Faraday's future, at the request of the board of Directors , Demote or suspend several responsible persons , And cut management salaries .

After a month ,FF The filing with the U.S. Securities Commission shows that ,FF Acknowledge that some members of the company's management team have received from the U.S. Securities and Exchange Commission (SEC) Security notice and summons of staff , The reason for the investigation is that Faraday future is suspected of publishing inaccurate information to investors .

In the saying of swing left and right ,FF And Jia Yueting's reputation continues to decline , This also makes it completely unconvincing in the capital market .

4 month 26 Japan ,FF Dive quickly after resuming trading , The fuse is triggered twice and the trading is suspended , The intraday decline exceeded 40%, The market value has evaporated hundreds of millions of dollars .

replay FF The road to growth , last year 7 Listed on NASDAQ in January , It can be said to be an important milestone of turnover , However “ Market with illness ” Faraday's future has not opened the trend of counter attack , Issue price 13.78 dollar /ADS, Opening quotation 16.8 dollar /ADS, Higher than issue price 22%, The total opening market value reached 54 Billion dollars .

Listing has become FF The pinnacle of , After continuous diving and landslide , By the end of time , Faraday's future share price is only 2.37 dollar , The total market value is only 7.69 Billion dollars , Compared to the opening , Drop more than 80%.

Before listing ,FF Talk ambitiously about global development plans , It is also planned to select sites and build factories in China , last year 3 Yueguanxuan FF China proper CEO Build a Chinese team , And it is rumored that both Zhuhai and Geely will participate in listed financial financing , But it turned out to be a false shot .

source :FF Official website

Moreover, Jia Yueting's dishonesty history and the punishment of permanently banning him from entering the securities market , Obviously let FF Development in China has encountered considerable resistance . therefore FF In external expression , deliberately “ De Jiahua ”.

in fact , Even without Jia Yueting's label ,FF The development of China's economy still faces no small doubts .

according to J Capital Research The report of ,FF The current level of technology is not sufficient to support FF 91 Mass production of , And because of FF Previously defaulted on the payment to the supplier , Cause the supplier to withdraw from the cooperation , Even if it can be supplied , Also pay the full amount , This is for those who are short of money FF Come on , It will undoubtedly cause great pressure .

Besides , The electric vehicle market is developing rapidly , Whether it's a new car company or a traditional car company , In terms of hardware configuration, they began to roll up .

Gaohe is a new powerful auto enterprise with the same high-end positioning , Has a certain fan base , Wei Lai 、 Car companies such as Xiaopeng have begun to use lidar , Other car companies are interested in intelligent driving assistance , Or self research or find a strong third party to cooperate , Have already had a lot of intelligent driving ability .

FF Obviously, I got up early and rushed to the late episode , One netizen said ,FF 91 Design and function of , It's out of date today .

In order to avoid falling behind in terms of software and hardware , Jia Yueting and Bi Fukang have always emphasized FF91 We're iterating and upgrading .“ We are confident that we will FF 91 Become the first leader in the luxury electric vehicle market , also FF Will redefine the most advanced intelligent electric vehicle .”

This article is from WeChat official account. “ Super electric laboratory ”(ID:SuperEV-Lab), author : On the continent   gaussian ,36 Krypton authorized release .

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