7 results
20-F
2023 FY
CJET
Chijet Motor Company, Inc.
30 Apr 24
Annual report (foreign)
4:31pm
For the year ended | For the year ended | For the year ended | ||||||||||||
Note | December 31, 2023 | December 31, 2022 | December 31, 2021 | |||||||||||
Net loss | $ | (98,501) | $ | (111,518) | $ | (62,552) | ||||||||
Other comprehensive income, net of tax | ||||||||||||||
Changes in post-employment and termination benefits | 19 | (1,216) | (567) | (888) | ||||||||||
Foreign currency adjustments | 2(d) | (104) | (6,722) | 3,811 | ||||||||||
Comprehensive loss | (99,821) | (118,807) | (59,629) | |||||||||||
Comprehensive loss attributed to non-controlling interest | (30,747) | (35,601) | (32,017) | |||||||||||
Comprehensive loss attributable to ordinary shareholders of Chijet Motor Company, Inc. | $ | (69,074) | $ | (83,206) | $ | (27,612) |
20-F
2023 FY
CJET
Chijet Motor Company, Inc.
30 Apr 24
Annual report (foreign)
4:31pm
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 |
20-F
2023 FY
CJET
Chijet Motor Company, Inc.
30 Apr 24
Annual report (foreign)
4:31pm
SCHEDULE OF OTHER CURRENT ASSETS
December 31, 2023 | December 31, 2022 | |||||||
US$’000 | US$’000 | |||||||
Prepayments for materials | 7,509 | 16,372 | ||||||
Prepayments for R&D | 110 | 698 | ||||||
Prepayments for utilities | 571 | 596 | ||||||
Other prepayments | 341 | 250 | ||||||
Deductible value-added tax input | 207 | 630 | ||||||
Other receivable | 1,662 | 250 | ||||||
Promissory note receivable | - | 1,380 | ||||||
Deferred cost | - | 2,959 | ||||||
Subtotal | 10,400 | 23,135 | ||||||
Less: allowance for bad debts | (449) | (230) | ||||||
Net balance | 9,951 | 22,905 |
20-F
2023 FY
CJET
Chijet Motor Company, Inc.
30 Apr 24
Annual report (foreign)
4:31pm
SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES)
December 31, 2023 | December 31, 2022 | December 31, 2021 | ||||||||||
US$’000 | US$’000 | US$’000 | ||||||||||
Deferred tax assets | ||||||||||||
Net operating loss carryforwards | 140,835 | 154,881 | 179,577 | |||||||||
Accrued warranty | 51 | 80 | 72 | |||||||||
Accrued expenses | 11,095 | 11,559 | 9,984 | |||||||||
Investment loss | 695 | 575 | 627 | |||||||||
Inventory impairment | 3,029 | 4,139 | 6,435 | |||||||||
Fixed assets impairment provision | 973 | 1,868 | 1,757 | |||||||||
Bad debts | 80 | - | 24 | |||||||||
Accrued payroll | 13,088 | 15,228 | 18,640 | |||||||||
Depreciation | - | - | 360 | |||||||||
Subtotal | 169,846 | 188,330 | 217,476 | |||||||||
Fair value change of fixed assets | (10,321) | (12,272) | (14,337) | |||||||||
Fair value change of intangible assets | (3,763) | (3,979) | (4,433) | |||||||||
Total deferred tax liabilities | (14,084) | (16,251) | (18,770) | |||||||||
Net deferred tax assets | 155,762 | 172,079 | 198,706 | |||||||||
Less: valuation allowance | (155,762) | (172,079) | (198,706) | |||||||||
Deferred tax assets, net of valuation allowance | - | - | - |
20-F
2023 FY
CJET
Chijet Motor Company, Inc.
30 Apr 24
Annual report (foreign)
4:31pm
SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION
For the year ended | For the year ended | For the year ended | ||||||||||
December 31, 2023 | December 31, 2022 | December 31, 2021 | ||||||||||
Revenues | $ | - | $ | - | $ | - | ||||||
Cost of revenues | - | - | - | |||||||||
Gross loss | - | - | - | |||||||||
Operating expenses: | ||||||||||||
Selling, general and administrative | 3,592 | 577 | 8 | |||||||||
Total operating expenses | 3,592 | 577 | 8 | |||||||||
Loss from operations | (3,592) | (577) | (8) | |||||||||
Other income | - | 600 | - | |||||||||
Interest income | - | - | - | |||||||||
Total other income, net | - | 600 | - | |||||||||
(Loss) income from operations before income taxes | (3,592) | 23 | (8) | |||||||||
Provision for income tax benefits (expenses) | - | - | - | |||||||||
Net (loss) income | (3,592) | 23 | (8) | |||||||||
Other comprehensive income (loss) | - | - | - | |||||||||
Comprehensive (loss) income | $ | (3,592) | $ | 23 | $ | (8) |
20-F
wn0foj i1n0aiv55b
30 Apr 24
Annual report (foreign)
4:31pm
20-F
xnu7v5vxxnyb
30 Apr 24
Annual report (foreign)
4:31pm
- Prev
- 1
- Next