Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Frost Wind Shenying, YuChan clue delivery! CTOnews.com news on January 12, Weimar issued an announcement today that Apollo Smart Travel Group Limited (stock code of Hong Kong Stock Exchange: 860) reached a conditional sale and purchase agreement with Weima Group, and proposed that the total amount of the placing shares would be about HK $3.918 billion, and the proposed temporary financing would be about 720 million yuan. At the same time, Weimar shareholders have pledged HK $1.5 billion in standing financing.

Apollo Wisdom Travel Group Co., Ltd. announced on the Hong Kong Stock Exchange that it reached a strategic merger with Weima Motors. The transaction price is $2.023 billion (currently about 13.696 billion yuan). The target company accounts for about 80.93% of Weima's total equity. Weima's transaction is valued at $2.51 billion (currently about 16.993 billion yuan).

Apollo Smart Travel announced in early December 2022 that it plans to acquire a company engaged in smart electric cars, which is currently Weimar.

It was previously reported that Weima plans to list in Hong Kong through backdoor Apollo Wisdom Travel, and Weima plans to complete its listing in the second quarter of 2023, according to people familiar with the matter.

CTOnews.com found that Shen Hui, CEO of Weimar, posted a classic clip of the movie "Hibiscus Town" on Weibo today, with a line saying "live, live like an animal", or alluding to the current situation.

Public data show that Weimar sold 1117 vehicles in October, with a cumulative sales of about 30,000 vehicles from January to October. By contrast, new car-building forces such as Wei Xiaoli and Nezha have all sold more than 10, 000 vehicles a month, with an annual sales volume of more than 100000.

In November 2022, Shen Hui issued an internal letter saying that in order to cope with financial pressure, he would reduce operating costs through a series of financial measures, including a voluntary salary cut for managers at the level of M4 and above and a 50% basic salary; other employees will pay 70% basic salary, abolish bonuses such as year-end bonuses, suspend car purchase subsidies, and so on.

In January this year, 130 million of the assets of Weimar Automobile Shanghai sales Company were frozen. Some Wenzhou citizens recently visited the Weimar Wenzhou factory and learned that there have been no orders in the factory for half a year. At present, the factory is in a state of suspension, and the security guard has left and can only be replaced by the factory staff. Because of no performance, the on-the-job employees can only get a basic salary of 1700 yuan a month to barely survive.

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