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Chijet Motor Company, Inc.
Companies
"Research and Development"
Keywords
Tables in SEC filings
Source
For the year ended | For the year ended | For the year ended | ||||||||||||
Note | December 31, 2023 | December 31, 2022 | December 31, 2021 | |||||||||||
Revenues | 2(q) | $ | 7,080 | $ | 8,053 | $ | 7,020 | |||||||
Revenues from related parties | 2(q), 22(b)(ii) | 2,403 | 6,908 | 15,283 | ||||||||||
Total revenues | 9,483 | 14,961 | 22,303 | |||||||||||
Cost of revenues | 2(r) | (15,295) | (19,285) | (56,210) | ||||||||||
Cost of revenues - idle capacity | 2(s) | (26,951) | (34,001) | (23,342) | ||||||||||
Gross loss | (32,763) | (38,325) | (57,249) | |||||||||||
Operating expenses: | ||||||||||||||
Research and development | 2(t) | 8,398 | 13,772 | 15,420 | ||||||||||
Selling, general and administrative | 2(u) | 47,281 | 65,324 | 50,441 | ||||||||||
Impairment charge | 283 | 842 | 6,054 | |||||||||||
Total operating expenses | 55,962 | 79,938 | 71,915 | |||||||||||
Loss from operations | (88,725) | (118,263) | (129,164) | |||||||||||
Other (expenses) income: | ||||||||||||||
Other income | 1,360 | 1,243 | 1,540 | |||||||||||
Interest income | 681 | 840 | 1,884 | |||||||||||
Interest expense | (14,819) | (14,724) | (16,096) | |||||||||||
Government grant | 2(w) | 3,748 | 19,467 | 80,995 | ||||||||||
(Loss) gain on equity investment | (519) | 6 | 131 | |||||||||||
Other expenses | (227) | (87) | (1,842) | |||||||||||
Total other (expenses) income, net | (9,776) | 6,745 | 66,612 | |||||||||||
Loss before income taxes | (98,501) | (111,518) | (62,552) | |||||||||||
Provision for income tax | 21 | - | - | - | ||||||||||
Net loss | (98,501) | (111,518) | (62,552) | |||||||||||
Net loss attributed to non-controlling interest | (30,390) | (34,262) | (32,642) | |||||||||||
Net loss attributed to ordinary shareholders of Chijet Motor Company, Inc. | $ | (68,111) | $ | (77,256) | $ | (29,910) | ||||||||
Basic and diluted net loss per share attributable to ordinary shareholders (i)(ii) | (0.43) | (0.51) | (0.20) | |||||||||||
Basic and diluted weighted average ordinary shares (i)(ii) | 158,436,534 | 152,130,300 | 152,130,300 |
Year Ended December 31, | ||||||||||||
(US$’000) | 2021 | 2022 | 2023 | |||||||||
Revenues: | ||||||||||||
-Vehicle Sales | 12,178 | 11,630 | 7,680 | |||||||||
-Sales of vehicle parts, accessories and others | 10,125 | 3,331 | 1,803 | |||||||||
Total revenues | 22,303 | 14,961 | 9,483 | |||||||||
Cost of revenues: | ||||||||||||
-Vehicle Sales | (16,419) | (11,280) | (7,384) | |||||||||
-Sales of vehicle parts, accessories and others | (39,791) | (8,005) | (7,911) | |||||||||
Cost of revenues-total | (56,210) | (19,285) | (15,295) | |||||||||
Cost of idle capacity | (23,342) | (34,001) | (26,951) | |||||||||
Gross loss | (57,249) | (38,325) | (32,763) | |||||||||
Operating expenses: | ||||||||||||
Research and development | 15,420 | 13,772 | 8,398 | |||||||||
Selling, general and administrative | 50,441 | 65,324 | 47,281 | |||||||||
Impairment charge | 6,054 | 842 | 283 | |||||||||
Total operating expenses | 71,915 | 79,938 | 55,962 | |||||||||
Loss from operations | (129,164) | (118,263) | (88,725) | |||||||||
Other income | 1,540 | 1,243 | 1,360 | |||||||||
Interest income | 1,884 | 840 | 681 | |||||||||
Interest expense | (16,096) | (14,724) | (14,819) | |||||||||
Government grant | 80,995 | 19,467 | 3,748 | |||||||||
(Loss)/gain on equity investment | 131 | 6 | (519) | |||||||||
Other expenses | (1,842) | (87) | (227) | |||||||||
Provision for income tax | - | - | - | |||||||||
Net loss | (62,552) | (111,518) | (98,501) |
Functions | Number | Percentage | ||||||
Research and Development | 142 | 9.87 | % | |||||
Production | 986 | 68.52 | % | |||||
Sales and Marketing | 48 | 3.34 | % | |||||
General and Administrative Support | 263 | 18.28 | % | |||||
Total | 1,439 (including 11 outsourced workers) | 100 | % |