63 results
20-F
2023 FY
CJET
Chijet Motor Company Inc
30 Apr 24
Annual report (foreign)
4:31pm
Regions | Fiscal Year 2023 | Fiscal Year 2022 | Fiscal Year 2021 | |||||||||||||||||||||
in thousand USD | Sales | % of Total Sales | Sales | % of Total Sales | Sales | % of Total Sales | ||||||||||||||||||
Mainland China | $ | 9,185 | 96.9 | % | $ | 14,947 | 99.9 | % | $ | 22,303 | 100.0 | % | ||||||||||||
Latin America | $ | 163 | 1.7 | % | $ | - | - | $ | - | - | ||||||||||||||
Oceania | $ | 78 | 0.8 | % | $ | - | - | $ | - | - | ||||||||||||||
Europe | $ | 57 | 0.6 | % | $ | 14 | 0.1 | % | $ | - | - | |||||||||||||
Total | $ | 9,483 | 100 | % | $ | 14,961 | 100 | % | $ | 22,303 | 100 | % |
20-F
2023 FY
CJET
Chijet Motor Company Inc
30 Apr 24
Annual report (foreign)
4:31pm
13 | FAW Jilin | China First Automobile Co., Ltd. | Contractual Dispute | 63,155.34 | China International Economic and Trade Arbitration Commission | Stage of first instance trial | ||||||
14 | FAW Jilin | China First Automobile Co., Ltd. | Contractual Dispute | 113,403.22 | China International Economic and Trade Arbitration Commission | Stage of first instance trial | ||||||
15 | FAW Jilin | FAW Logistics (Changchun Lushun) Storage and Transportation Co., LTD | Contractual Dispute | 145,726.28 | Jilin High-Tech Industrial Development Zone People’s Court | Pending first instance trial | ||||||
16 | Qingjian Group Co., Ltd. | Bijie Yabei, Shandong Baoya | Contractual Dispute | 59,738.52 | Qixingguan District People’s Court of | Stage of first instance trial | ||||||
17 | Shandong Baoya | Hunan Taide Automobile Air Conditioning Co., Ltd., Shanxi Taide Automobile Air Conditioning Co., Ltd. | Contractual Disputes | 436,717.84 | Yantai Economic and Technological Development Zone People’s Court | Pending first instance trial | ||||||
18 | Shandong Baoya | Shanghai Youhang Automotive Electronics Co., Ltd., Shenzhen Youjia Innovation Technology Co., Ltd. | Contractual Disputes | 278,877.17 | Yantai Economic and Technological Development Zone People’s Court | Pending first instance trial | ||||||
19 | Jiangsu Zhongqi Boyue Vehicle Technology Co. Ltd. | Shandong Baoya | Contractual Disputes | 284,511.05 | Yantai Economic and Technological Development Zone People’s Court | Pending first instance trial | ||||||
20 | Zhejiang Mould Factory | Shandong Baoya | Contractual Disputes | 943,675.26 | Yantai Economic and Technological Development Zone People’s Court | Mediation prior to trial |
20-F
2023 FY
CJET
Chijet Motor Company Inc
30 Apr 24
Annual report (foreign)
4:31pm
Year Ended December 31 | ||||||||||||
(US$’000) | 2021 | 2022 | 2023 | |||||||||
Summary of Consolidated Cash Flow Data: | ||||||||||||
Net cash (used in) / provided by operating activities | (22,374) | 22,383 | (40,017) | |||||||||
Net cash (used in) investing activities | (1,071) | (13,245) | (1,762) | |||||||||
Net cash (used in) / provided by financing activities | (44,611) | 1,380 | 5,225 | |||||||||
Effects of currency translation on cash, cash equivalents, and restricted cash | 2,003 | (3,635) | (1,360) | |||||||||
Net (decrease) / increase in cash, cash equivalents and restricted cash | (68,056) | 10,518 | (36,554) | |||||||||
Cash, cash equivalents and restricted cash at beginning of the year | 109,193 | 43,140 | 50,023 | |||||||||
Cash, cash equivalents and restricted cash at end of the year | 43,140 | 50,023 | 12,109 |
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
For the year ended | For the year ended | For the year ended | ||||||||||||
Note | December 31, 2023 | December 31, 2022 | December 31, 2021 | |||||||||||
Cash flows from operating activities | ||||||||||||||
Net loss | $ | (98,501) | $ | (111,518) | $ | (62,552) | ||||||||
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||||||||||
Depreciation and amortization expense | 8,9,10 | 34,620 | 44,653 | 54,313 | ||||||||||
Share-based compensation expenses | 3,171 | - | - | |||||||||||
Impairment of property, plant and equipment | 2(o), 8 | 283 | 842 | 6,054 | ||||||||||
Impairment of inventory | 2(i), 6 | 4,510 | 4,450 | 20,328 | ||||||||||
Bad debt expense | 259 | 235 | 94 | |||||||||||
Warrant expense | 2(y), 20(a) | - | 22,900 | - | ||||||||||
Government grant | 2(w) | (3,748) | (19,467) | (80,995) | ||||||||||
Gain on disposal of property, plant and equipment | 2(j) | (287) | (13) | (11) | ||||||||||
Loss (gain) on equity investment | 519 | (6) | (131) | |||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Accounts and notes receivable | (2,008) | (228) | 528 | |||||||||||
Accounts and notes receivable from related parties | 662 | (506) | 3,689 | |||||||||||
Accounts and notes receivable | (2,008) | (228) | 528 | |||||||||||
Inventory | 3,973 | 490 | (25,080) | |||||||||||
Amounts due from related party | 11,271 | 10,594 | 66,867 | |||||||||||
Other current assets | 8,927 | 6,927 | (10,390) | |||||||||||
Other current assets from related parties | (127) | (1,180) | (1,616) | |||||||||||
Other current assets | 8,927 | 6,927 | (10,390) | |||||||||||
Other assets | (1,900) | 52,007 | (7,010) | |||||||||||
Accounts and notes payable | (7,440) | (7,720) | (23,168) | |||||||||||
Accounts and notes payable to related party | (5,697) | (4,014) | (16,744) | |||||||||||
Accounts and notes payable | (7,440) | (7,720) | (23,168) | |||||||||||
Accrual and other current liabilities | 1,427 | 472 | (17,836) | |||||||||||
Accruals and other current liabilities to related parties | 12,972 | 13,622 | 55,010 | |||||||||||
Accrual and other current liabilities | 1,427 | 472 | (17,836) | |||||||||||
Contract liabilities | 170 | (2,159) | 497 | |||||||||||
Contract liabilities to related parties | 1,571 | (884) | - | |||||||||||
Contract liabilities | 170 | (2,159) | 497 | |||||||||||
Accrued post-employment and termination benefits | (9,249) | (8,106) | (7,843) | |||||||||||
Other liabilities | 4,605 | 20,992 | 23,622 | |||||||||||
Net cash (used in) provided by operating activities | (40,017) | 22,383 | (22,374) | |||||||||||
Cash flows from investing activities: | ||||||||||||||
Purchase of fixed assets | (5,340) | (11,838) | (951) | |||||||||||
Proceed from disposition of fixed assets | 1,514 | 74 | - | |||||||||||
Proceeds from disposal of land use rights | 1,184 | - | - | |||||||||||
Issuance of Promissory Notes receivable | (1,180) | (1,380) | - | |||||||||||
Purchase of intangible assets | - | (101) | (120) | |||||||||||
Proceeds from Promissory Notes receivable | 2,060 | - | - | |||||||||||
Net cash used in investing activities | (1,762) | (13,245) | (1,071) | |||||||||||
Cash flows from financing activities: | ||||||||||||||
Proceeds from short-term borrowings | 920 | - | 1,258 | |||||||||||
Proceeds from short-term borrowings-related parties | 4,840 | - | - | |||||||||||
Proceeds from exercise of warrants | 1,100 | - | - | |||||||||||
Repayments of short-term borrowings | (2,329) | - | (1,258) | |||||||||||
Repayments of short-term borrowings-related parties | (2,604) | - | - | |||||||||||
Cash acquired in the reverse recapitalization | 4,490 | - | - | |||||||||||
Payments for reverse recapitalization and ordinary shares issuance costs | (1,192) | - | - | |||||||||||
Proceeds from Promissory Notes Payable | - | 1,380 | - | |||||||||||
Repayments of long-term payable | - | - | (44,611) | |||||||||||
Net cash provided (used in) by financing activities | 5,225 | 1,380 | (44,611) | |||||||||||
Net change in cash, cash equivalents, and restricted cash | (36,554) | 10,518 | (68,056) | |||||||||||
Effects of currency translation on cash, cash equivalents, and restricted cash | (1,360) | (3,635) | 2,003 | |||||||||||
Cash, cash equivalents, and restricted cash, beginning of period | 50,023 | 43,140 | 109,193 | |||||||||||
Cash, cash equivalents, and restricted cash, end of period | $ | 12,109 | $ | 50,023 | $ | 43,140 | ||||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||||||
Cash paid for interest | $ | 236 | $ | - | $ | 258 | ||||||||
Non-cash investing and financing activities: | ||||||||||||||
Warrant issued for services | 2(y), 20(a) | $ | - | $ | 22,900 | $ | - | |||||||
Initial measurement of right-of-use asset | $ | - | $ | 354 | $ | - | ||||||||
Initial measurement of right-of-use liabilities | $ | - | $ | 1,829 | $ | - | ||||||||
Unpaid deferred offering cost related with reverse recapitalization | $ | 379 | $ | - | $ | - | ||||||||
Deferred offering cost settled with ordinary shares | 1(b) | 1,000 | - | - | ||||||||||
Deferred offering costs reclassified to additional paid-in capital | 1(b) | $ | 4,500 | $ | - | $ | - | |||||||
Repurchase of treasury stock | 20(b) | $ | 500 | $ | - | $ | - |
20-F
due2qd7xsl2d
30 Apr 24
Annual report (foreign)
4:31pm
20-F
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30 Apr 24
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4:31pm
20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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4:31pm
20-F
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30 Apr 24
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20-F
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30 Apr 24
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20-F
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30 Apr 24
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