Lei Jianping on May 16
Maverick Electric recently released a 20-F document, and the annual report shows that as of February 29, 2024, Maverick Electric CEO Li Yan holds 4.8% of the shares and has 13.3% of the voting rights; Niu Holding holds 6.4% of the shares and has 19.4% of the voting rights.
As of February 29, 2024, Maverick Electric's shareholding structure
小牛电动创始人李一男旗下的Glory Achievement Fund Limited持股为31.8%，拥有24.1%的投票权。
As of February 29, 2023, Maverick Electric's shareholding structure
As of February 28, 2023, Li Yan held 4.8% of the shares and had 13.4% of the voting rights; Hu Yilin holds 5.3% of the shares and has 16.1% of the voting rights;
Li Yinan's Glory Achievement Fund Limited holds 28% of the shares and has 21.2% of the voting rights. Niu Holding holds 6.4% of the shares and has 19.5% of the voting rights.
As of February 29, 2024, Maverick Electric management
In contrast, in the past year, Li Yinan's shareholding ratio has increased by 3.8 percentage points, and his voting rights have increased by 2.9 percentage points, and Hu Yilin has disappeared from the ranks of major shareholders.
As of February 29, 2023, Maverick Electric management
Hu Yilin was a director and vice president of R&D of Maverick Electric in the same period in 2022, and in the same period in 2023, he was still a director, but in the same period in 2024, he no longer appeared in the management and directors. Hu Yilin still holds a stake in Niu Holding.
Maverick Electric's revenue in 2021, 2022, and 2023 will be 3.7 billion yuan, 3.169 billion yuan, and 2.652 billion yuan (about 373 million US dollars), respectively, and the gross profit will be 812 million yuan, 670 million yuan, and 570 million yuan respectively. The gross profit margin was 21.9%, 21.1% and 21.5%, respectively.
Maverick Electric's net profit in 2021, 2022, and 2023 will be 226 million yuan, -49.46 million yuan, and -272 million yuan (about 38.29 million US dollars) respectively.
On the whole, Maverick Electric has encountered great challenges in the past two years, among which, Maverick Electric's revenue in 2023 will decrease by 16.3% year-on-year, and there will be a large loss.
At the end of February 2024, Maverick Electric released three new cars, including the new-generation flagship electric motorcycle NX and flagship electric motor NXT that continue the first product N1, as well as the intelligent off-road electric motorcycle X3. It depends on whether the new product can be released to reverse the decadent situation of Maverick Electric.
As of today, Maverick Electric shares are trading at $2.32 and have a market capitalization of $180 million.
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