Source: Titanium Media
In the United States, before the US stock market on Tuesday (November 7), Hindenburg Research released a report saying that it is being short -term as NASDAQ: EH, and listed multiple "Crime evidence.
As soon as this move, Empti Smart fell nearly 20%before the US stock marketSurat Wealth Management. As of November 7, US stocks closed at US stocks, and Yiyang’s smart stock price closed at $ 13.06, down 12.7%. The current company’s total market value is about 789 million US dollars.
From the perspective of extended time, in the past month, Everlasting’s smart stock price has fallen from US $ 25.78 on October 13 to the current $ 13.06, and the stock price is almost cut, and the market value has evaporated by about 778 million US dollars.
When the institution is short two times, many indicators of the company have been questioned
On August 17, Yishhang Intelligent announced the unaudited performance report of the second quarter of fiscal year in fiscal year in fiscal year.
As of the end of June, the company had delivered a total of 16 EH216 series of autonomous aircraft to achieve total revenue of about 4.670 million US dollars, an increase of 49.56%year -on -year; net loss was about 23.4538 million US dollars, a decrease of 6.91%year -on -year;The total amount is about 22 million US dollars.
It is worth mentioning that in July of this year, Eleach Smart completed a $ 23 million strategic private equity financing, which increased the company’s total cash and cash equivalents and restricted short -term deposits to about 44.9 million US dollars.
In response to the company’s operating performance, Hindenburg Research pointed out in the report that the drone industry has a high dependence on R & D investment, but Yiyang’s total investment in the Intelligent R & D is only 97 million US dollars.The 381 million US dollars invested by Archer Aviation are far from the differences.At the same time, Everlast Smart is currently only 44.9 million US dollars in cash. It is not enough to support its operation in the capital -intensive aviation industry, and its competitors have hundreds of millions of cash.
For the world’s first self -driving electric vertical take -off and landing ("EVTOL") certification, which was obtained by Yishi Intelligent on October 13, the report believes that the certification is accompanied by many flight restrictions, but it has not been fully disclosed to investors.These restrictions make most of its potential commercial use invalid, including limited places that are limited in the densely populated areas, shared airspaces and local staff.Encyclopedia Intelligent claims that it will gradually cancel restrictions, but according to India’s "EVTOL" experts, Yiyang Smart Flagship models will need billions of dollars to redesign and completely different certification categories to avoid these restrictions.
In addition, HindenBurg Research also questioned the sales data of Yiyang Smart.The report believes that the largest order before the company was listed was signed by a biotechnology company called United therapeutics in 2016. At that time, the latter scheduled 1,000 aircraft from Yiyang Smart.74%.However, another identity of United therapeutics is investor of Yideong Smart.
In 2020, the CEO of United therapeutics said that he is looking for a farther aircraft provided by the intelligence provided by Etherium.It is 19 miles (about 30 kilometers).In February 2021, United therapeutics quietly sold all its shares in Eleach Smart at about $ 109 million.
And Yireong Smart’s second largest order comes from a company in Indonesia. The order involves 100 aircraft, with a total value of about 30 million US dollars.However, the day before the contract with Eyhang Smart, the company in Indonesia was just established, and the registered capital was only $ 34,000.
Faced with the "allegations" of Hindenburg Research, Empty Hangs Intelligent responded quickly, and published a statement that the above report includes the false statements and misunderstandings of the company’s business operation and financial statusAnd incomplete understanding.The company resolutely denies the charges of the company’s misleading investors in terms of orders and sales in the short report, and will adopt the interests of proper action to protect the company and its shareholders.
Everlast Intelligent said that the company’s cumulative orders and pre -order orders in the past reflect the customer’s strong interest and real needs for EVTOL productsBangalore Investment. These orders are based on the signed contracts and are planned to be delivered in accordance with the customer’s requirements after obtaining the approval of the regulatory authorities.
In fact, this is not the first time that Everlast Intelligent has been shorted by overseas institutions.Jaipur Stock
As early as February 2021, Wolfpack Research, the shorting agency, issued a report to accuse Yishhang Smart’s existence of transaction contracts and false production facilities.Subsequently, the founder of Yishhang Intelligent Hu Huazhi came forward to the company’s platform, pointing out that the report was false allegations, but it was also unable to recover the trendPune Stock. The company’s stock price fell 62.69%on that day.
At that time, Hu Huazhi said that the short quality report of Wolfpack Research was very poor, and there were no vulnerabilities. There was no attempt to understand the technology and business model. Based on pseudo -infla and inferior research, it included many errors, unconfirmed statements and misunderstandings about information.
The short report pointed out that Monsole Mumbai, a customer of Evil Smart, is also its shareholder. The two signed a false sales contract to benefit them.In this regard, Hu Huazhi explained that Mumbai Xiangxiang has never been a shareholder of Yishhang Smart, and all the contracts between Yiyang Smart and Mumbai Xiang are normal transactions.
At the same time, the reporting agency reported that the E -Airlines Smart Headquarters and manufacturing facilities were "actually empty."Hu Huazhi said that Eleach Smart’s Guangzhou production base covers an area of 8,750 square meters. The company is equipped with production facilities for autonomous driving aircraft. The factory located in Yunfu, Guangdong is also under construction. The initial annual capacity is 600 -carried automatic driving aircraft.
Continuous cooperation, but the company’s performance has not improved
Public information shows that Yiyang Intelligent was registered in December 2014 in the Cayman Islands. It is a world -leading intelligent autonomous aircraft technology company, and is committed to allowing everyone to enjoy a safe, automatic and environmentally friendly air transportation.The company mainly provides customers with various autonomous aircraft products and solutions, covering applications such as urban air transportation (including manned transportation and logistics transportation), smart city management and air media.
In January 2016, Yiyang Intelligent released the world’s first manned -class autonomous vehicle "Yiyang 184", leading the new industries of air transportation in the global city.In December 2019, Yishhang Smart landed on Nasdaq, becoming the world’s first urban air transportation company in the world.
In October 2023, Yiyang Smart EH216-S self-driving manned aircraft system successfully obtained the model certificate (TC ") issued by the Indian Civil Aviation Administration (TC")."EVTOL") Aviation model qualified certification.
On November 1st, Eleba Intelligence announced that it was completed and opened at the first urban air transportation (UAM) center in the first city in Europe.This is the first UAM center of EVTOL aircraft in Europe, which will become the global EVTOL aircraft operation and airport infrastructure, air traffic management system, operation process, and other information technology.
Since the beginning of this year, Everbright Smart has successively with the Malaysian Aviation Group Aerotree Flight Services Co., Ltd., Prestige Corp., a subsidiary of Indonesia, Prestige Aviation, Thailand Enterprise Group, Hunan City Government Government.Responsible companies, Agricultural Bank of China, Guangzhou Branch, Aircraft Engineering Group Hong Kong Aircraft Engineering Co., Ltd., Qingdao West Coast New District, South Korea SM Entertainment Company, Shenzhen Baoan District Government, Hefei Municipal Government and other domestic and foreign government and enterprise units reached strategic cooperation agreements, involving aircraft reservations, procurement, UAAM business, intention credit quota, R & D production, strategic investment and other matters.
Judging from such intensive cooperation, the company’s operating situation should be very good, but in fact, since the listing of Everlast Intelligence, the company’s revenue has suddenly been negative and the net profit has always been negative.From 2019 to 2022, the company’s net profit has been in a state of losses, and the loss has continued to expand. As of the end of 2022, the company’s revenue was approximately US $ 6.581 million and a net profit of approximately -48.7429 million US dollars.
Entering 2023, the loss of Eleachness Intelligence has not improved. According to the company’s earlier semi -annual report data from the 2023 report earlier, as of the end of June, the company’s net profit was US $ 23.4538 million, which was US $ 21.937 million in the same period in 2022.Reduce 6.91%.
According to the company’s disclosure information, East Intelligent is expected to release the third quarter of the fiscal year in fiscal 2023 on December 1, Eastern time.(This article was first published in the Titanium Media APP, author | Chen Weina)
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