[Epoch Times November 26, 2021](Epoch Times reporter Li Jing comprehensive report) The Chinese listed company Leo shares recently announced that its wholly-owned subsidiary Leo Investment and the professional investment agency TBCA have encountered obstacles in the cooperation project, 5,000 Ten thousand dollars of investment funds were returned. TBCA’s investment target is SpaceX, a US space technology company.
On the morning of November 25th, Leo Shares issued an announcement stating that Tomales Bay Capital Anduril III GP, LLC, the general partner of TBCA, sent an email to (Leo Shares) that it could not accept Leo Investments to continue to hold LP shares. And intends to refund the capital contribution of Leo Investment. As of November 24, TBCA has returned 50 million U.S. dollars of capital contribution to Leo Investment.
According to the announcement, the investment company TBCA, which cooperated with Leo Shares, was established on February 9, 2021, and is registered in Delaware, the United States.
Eight days ago, Leo Shares issued an announcement stating that its subsidiary Leo Investment will invest US$50 million in TBCA. TBCA’s investment target is SpaceX. SpaceX is a world-leading space technology company founded by American entrepreneur Elon Reeve Musk.
Affected by the above news, Leo shares opened a limit on November 25, and then adjusted upwards, as of the day’s midday closing drop of 9.03%.
In the announcement on November 25, Leo shares believed that the termination of the TBCA agreement had no legal basis, and it would not accept the return of investment funds and the recovery of the LP shares held by Leo Investment. “The company reserves all rights to safeguard the company’s interests, including but not limited to bringing judicial proceedings.”
According to public information, Leo Group, or Leo Group Co., Ltd., is a listed company in the Chinese pump industry and a digital marketing company in China’s A-share market.
It is worth noting that Leo’s plan to invest in SpaceX has always been questioned.
According to Times Financial News, Leo Investment signed an agreement on November 15 and completed its capital contribution to TBCA on November 16.
On November 18, the Shenzhen Stock Exchange issued a letter of concern to Leo shares, requesting it to supplement the disclosure of the specific information of TBCA, including but not limited to fund size, organizational form, capital contribution method, capital contribution progress, duration, exit mechanism, etc., and explain The specific arrangements and progress of investing in SpaceX, whether other approval procedures are required, whether relevant agreements have been signed, whether there are major uncertainties in the investment, etc.
From November 15 to November 24, in less than two weeks, the investment plan that had been talked about before came to an abrupt end. However, from the perspective of the secondary market, Leo shares have gained attention.
From the perspective of Leo’s own performance, in the first three quarters of this year, the company achieved revenue of 14.4 billion yuan (RMB, the same below), a year-on-year increase of 35.61%; a net profit loss of 92 million, a year-on-year decline of 103%.
It is worth mentioning that Leo shares have also been involved in the investment of chips, power batteries, Yuan Cosmos and other popular race tracks, and holds shares in Ideal Car (LI) and Xinfeng. However, in the third quarter of this year, Leo shares The investment loss of Ideal Automobile exceeded 1.4 billion yuan.
Editor in charge: Lin Congwen#
.