SECURITIES AND EXCHANGE COMMISSION
ON FORM F-3
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Cayman Islands
(Stale or other jurisdiction of incorporation or organization)
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Not Applicable
(I.R.S. Employer Identification Number)
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2121 Longteng Avenue
Xuhui District, Shanghai 200232 People’s Republic of China
+86 (571) 8530-6942
122 East 42nd Street, 18th Floor
New York, NY 10168
+1 800-221-0102
Skadden, Arps, Slate, Meagher & Flom LLP
c/o 42/F, Edinburgh Tower, The Landmark
15 Queen’s Road, Central
Hong Kong
+852 3740-4700
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Emerging growth company ☒
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As of December 31, 2023
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RMB in thousands
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US$ in thousands
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Cash and restricted cash
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| | | | 588,274 | | | | | | 82,857 | | |
Short-term borrowings
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| | | | 1,200,000 | | | | | | 169,016 | | |
Convertible notes payable, net
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| | | | 455,701 | | | | | | 64,184 | | |
Borrowings and other financial liabilities
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| | | | 1,655,701 | | | | | | 233,200 | | |
Total shareholders’ deficit
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| | | | (834,459) | | | | | | (117,531) | | |
Total capitalization
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| | | | 821,242 | | | | | | 115,669 | | |
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Securities beneficially owned
prior to this offering |
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Securities to be sold in
this offering |
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Securities beneficially owned
after this offering(3) |
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Name of Selling Securityholder
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Ordinary
Shares(1) |
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%(1)
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Warrants(2)
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%(2)
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Ordinary
Shares(1) |
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Warrants(2)
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Ordinary
Shares(1) |
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%(1)
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Warrants(2)
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%(2)
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Fu&Li Industrious Innovators Limited(4)
|
| | | | 168,921,032 | | | | | | 50.0 | | | | | | — | | | | | | — | | | | | | 168,921,032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jie&Hao Holding Limited(5)
|
| | | | 24,480,458 | | | | | | 7.2 | | | | | | — | | | | | | — | | | | | | 24,480,458 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
SHINE LINK VENTURE
LIMITED(6) |
| | | | 46,286,735 | | | | | | 13.7 | | | | | | — | | | | | | — | | | | | | 46,286,735 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Baidu (Hong Kong) Limited(7)
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| | | | 22,367,946 | | | | | | 6.6 | | | | | | — | | | | | | — | | | | | | 22,367,946 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Geely Automobile Holdings
Limited(8) |
| | | | 5,155,389 | | | | | | 1.5 | | | | | | — | | | | | | — | | | | | | 5,155,389 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Absolute Bond Limited(9)
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| | | | 1,031,927 | | | | | | * | | | | | | 3,797,216 | | | | | | 15.9 | | | | | | 1,031,927 | | | | | | 3,797,216 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Duolin Xu(10)
|
| | | | 3,333 | | | | | | * | | | | | | — | | | | | | — | | | | | | 3,333 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jennifer Kesseler(11)
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| | | | 2,400 | | | | | | * | | | | | | — | | | | | | — | | | | | | 2,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Karanveer Dhillon(12)
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| | | | 60,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 60,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Yulia Sali(13)
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| | | | 13,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 13,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Chye Kiou Heng(14)
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| | | | 1,110,660 | | | | | | * | | | | | | — | | | | | | — | | | | | | 1,110,660 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jun Hong Heng(15)
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| | | | 72,660 | | | | | | * | | | | | | 124,208 | | | | | | 0.5 | | | | | | 72,660 | | | | | | 124,208 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Paloma Opportunities Ltd(16)
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| | | | 1,749,030 | | | | | | * | | | | | | 2,989,864 | | | | | | 12.5 | | | | | | 1,749,030 | | | | | | 2,989,864 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
PT Elang Mahkota Teknologi
Tbk(17) |
| | | | 1,146,990 | | | | | | * | | | | | | 1,960,712 | | | | | | 8.2 | | | | | | 1,146,990 | | | | | | 1,960,712 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jack Smith(18)
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| | | | 10,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 10,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Crescent Cove Advisors, LP(19)
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| | | | 50,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Luminar Technologies, Inc.(20)
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| | | | 1,500,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 1,500,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Geely Investment Holding Ltd.(21)
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| | | | 2,000,000 | | | | | | * | | | | | | — | | | | | | — | | | | | | 2,000,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Lotus Technology Inc.(22)
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| | | | 1,052,632 | | | | | | * | | | | | | — | | | | | | — | | | | | | 1,052,632 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
SPDB International (Hong Kong) Limited(23)
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| | | | 3,119,566 | | | | | | * | | | | | | — | | | | | | — | | | | | | 3,119,566 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
CNCB (Hong Kong) Investment Limited(24)
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| | | | 2,673,914 | | | | | | * | | | | | | — | | | | | | — | | | | | | 2,673,914 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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SEC registration fee
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| | | US$ | 144,371* | | |
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Legal fees and expenses
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| | | US$ | 824,000 | | |
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Accountants’ fees and expenses
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| | | US$ | 198,000 | | |
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Printing expenses
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| | | US$ | 75,000 | | |
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Miscellaneous costs
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| | | US$ | 5,000 | | |
| Total | | | | US$ | 1,246,371 | | |
5/F, Building 1, Zhongteng Building
2121 Longteng Avenue
Xuhui District, Shanghai 200232 People’s Republic of China
+86 (571) 8530-6942
[email protected]
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Incorporation by Reference
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Exhibit
No. |
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Description
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Form
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File No.
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No.
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Filing Date
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| 2.1 | | | | |
F-4
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333-267813
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2.1
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November 14, 2022
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| 4.1 | | | | |
F-4
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333-267813
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4.4
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November 14, 2022
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| 4.2 | | | | |
F-4
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333-267813
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4.5
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November 14, 2022
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| 4.3 | | | | |
F-4
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333-267813
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4.6
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November 14, 2022
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Incorporation by Reference
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Exhibit
No. |
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Description
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Form
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File No.
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No.
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Filing Date
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| 4.4 | | | | |
20-F
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001-41576
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2.4
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| | April 24, 2023 | | |
| 5.1 | | | | |
F-1
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333-271861
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5.1
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| | June 20, 2023 | | |
| 5.2 | | | | |
F-1
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333-271861
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5.2
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| | June 20, 2023 | | |
| 23.1* | | | | | | | | | | | | | | | | |
| 23.2 | | | | |
F-4
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333-267813
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23.6
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November 14, 2022
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| 23.3 | | | | |
F-1
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333-271861
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5.1
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| | June 20, 2023 | | |
| 23.4 | | | | |
F-1
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333-271861
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5.2
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| | June 20, 2023 | | |
| 23.5* | | | | | | | | | | | | | | | | |
| 24.1* | | | | | | | | | | | | | | | | |
| 99.1 | | | | |
20-F
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001-41576
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11.1
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| | April 24, 2023 | | |
| 107 | | | | |
F-1
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333-271861
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107
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| | June 20, 2023 | |
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SIGNATURE
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CAPACITY
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DATE
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/s/ Ziyu Shen
Ziyu Shen
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Chairman and Chief Executive Officer
(Principal Executive Officer) |
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April 11, 2024
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*
Tan Su
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| | Director | | |
April 11, 2024
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*
Ni Li
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| | Director | | |
April 11, 2024
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*
Jim Zhang (Zhang Xingsheng)
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| | Independent Director | | |
April 11, 2024
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*
Grace Hui Tang
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| | Independent Director | | |
April 11, 2024
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*
Jun Hong Heng
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| | Independent Director | | |
April 11, 2024
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*
Peter Cirino
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| | Chief Operating Officer | | |
April 11, 2024
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/s/ Jing (Phil) Zhou
Jing (Phil) Zhou
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Chief Financial Officer
(Principal Financial and Accounting Officer) |
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April 11, 2024
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Attorney-in-Fact