NO COVID 19 - Nasdaq Listed Ideanomics Announced E
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Posted On: 04/16/2020 12:51:33 PM
NO COVID 19 - Nasdaq Listed Ideanomics Announced EV Operations Resumed and a New $7B Fund
IDEANOMICS INC.
Operations Back to Normal; Announces New EV Orders
Chinese and German manufacturers fulfilled total of 600 units
A New $7B Fund
Ideanomics Reported Qingdao City Construction Investment Group Enters into Agreement with Sun Seven Stars Investment Group to Fund Ideanomics’ EV Lease Financing
NEW YORK, April 6, 2020 Ideanomics, (NASDAQ: IDEX) announced that the Qingdao City Construction Investment Group Limited (QCCIG) has entered into framework strategic cooperation agreement with Sun Seven Stars Investment Group Limited (Sun Seven) to raise up to RMB 50 Billion (USD 7 Billion) fund to finance investment projects in Qingdao and Shandong Province. The required funds are provisionally committed by insurance companies, subject to a two- to three-month administrative process, and is part of a fundraising initiative which has been underway since Q4 of 2019.
Approximately 20% of the new fund will be earmarked to finance the purchase of electric vehicles (EVs) to replace existing gas-powered fleets in Shandong province. The fund will sign an agreement with Ideanomics' MEG Group once it is fully formed and the funds are in place to provide MEG financing for EVs. MEG, based on its S2F2C (Sales to Financing to Charging) model will be the beneficiary of these funds through EV sales, leasing and financing services, and charging-related energy sales.
Announced Over $1B in Electric Vehicle Orders for 2020
Announced $750 M Order from Beijing Silk Road Rainbow Car Rental
Announced $125 M Order from Sichuan Shenwu Yunli Transportation
Announced $250 M in Multiple Orders from Zhitong 3000
Announced May 1st Operational Opening of Qingdao EV Hub
Ideanomics' MEG Announces the Formation of Business Entities to Capitalize on China's RMB 24 Trillion
($3.4 Trillion) "New Infrastructure" Investments
NEW YORK, Ideanomics Inc., (NASDAQ: IDEX), announced the formation of two core business entities to capitalize on China's 24 trillion RMB / $3.4 Trillion "New Infrastructure" investments. The Chinese government is accelerating its New Infrastructure" investment as part of the financial stimulus measures put in place to help stabilize growth and employment, serve consumption upgrades, and improve overall quality of life. As of March 4, seven provinces and cities have launched more than 24 trillion RMB / $3.4 Trillion in key new infrastructure construction projects.
Capitalizing on the Electric Vehicle Revolution
"Focused on facilitating end-to-end solutions for the purchase of commercial electric vehicles & developing next generation of financial services and Fintech products"
Key Investment Highlights
EV World Market Growth CAGR of 25.6%
Institutional Ownership
Doing Business In the Largest Market in the World
Strong Experienced Management
2020 Exponential Growth Potential with $1B of EV Orders
Overview
Ideanomics, Inc. trades on the Nasdaq under the symbol IDEX is based in New York, NY, USA, and has offices in Beijing, China.
Ideanomics is a diversified company and primarily operates in the United States and Asia with reported assets of $164,763,676 along with revenues of $ 43,286,378 (Q-3 2019).
Its main operating division is the Mobile Energy Group (MEG) which has been focusing on the expanding global electric-vehicle market.
MEG specializes with companies that have commercial fleets that require by law and government zero emissions mandates to acquire new electric vehicles for their businesses.
Called the "Amazon Platform" for EV with end to end sales & services where enterprises can have full procurement, financing, insurance, batteries and energy supplies along with subsidies for the adoption of electric commercial vehicles.
Over the next 2 years in China more than 24 million commercial vehicles will be required to be replaced with electric vehicles. Ideanomics is well established and strategically positioned to gain a substantial market share of this EV business opportunity.
MEG operates through partnerships with China’s largest automakers, Build Your Dreams (China) (BYD) and Beijing Automotive Industry Co. (BAIC) as well as 24 transportation and 8 financial partners as an end-to-end solutions provider with vehicle procurement, financing, battery charging and energy management needs.
In July 2019, Ideanomics invested 51 % in Glory Connection Snd. Bhd, (Glory) a vehicle manufacturer based in Malaysia. Glory holds the only license granted to date for the manufacturing of electric vehicles in Malaysia.
Ideanomics’ FinTech division consist of its ownership of the Delaware Board of Trade (DBOT) an Alternative Trading System, Intelligenta a marketing AI solutions company that serves the Financial Services industry and a new FinTech Village, a 58-acre development site in West Hartford, Connecticut.
The fintech business division offers customized services based on best-in-class blockchain, AI and other technologies to mature and emerging businesses across various industries. The company is building a financial technology ecosystem through license agreements, joint ventures and strategic investments, which is referred to as Ideanomics’ “Fintech Ecosystem”.
Share Structure March 31, 2020
Market Cap $158,785,000
Outstanding Shares 162,076,044
Restricted Shares 74,424,144
Unrestricted Shares 87,651,900
52 Week Hi-lo $2.84-$0.27
IDEANOMICS INC.
Operations Back to Normal; Announces New EV Orders
Chinese and German manufacturers fulfilled total of 600 units
A New $7B Fund
Ideanomics Reported Qingdao City Construction Investment Group Enters into Agreement with Sun Seven Stars Investment Group to Fund Ideanomics’ EV Lease Financing
NEW YORK, April 6, 2020 Ideanomics, (NASDAQ: IDEX) announced that the Qingdao City Construction Investment Group Limited (QCCIG) has entered into framework strategic cooperation agreement with Sun Seven Stars Investment Group Limited (Sun Seven) to raise up to RMB 50 Billion (USD 7 Billion) fund to finance investment projects in Qingdao and Shandong Province. The required funds are provisionally committed by insurance companies, subject to a two- to three-month administrative process, and is part of a fundraising initiative which has been underway since Q4 of 2019.
Approximately 20% of the new fund will be earmarked to finance the purchase of electric vehicles (EVs) to replace existing gas-powered fleets in Shandong province. The fund will sign an agreement with Ideanomics' MEG Group once it is fully formed and the funds are in place to provide MEG financing for EVs. MEG, based on its S2F2C (Sales to Financing to Charging) model will be the beneficiary of these funds through EV sales, leasing and financing services, and charging-related energy sales.
Announced Over $1B in Electric Vehicle Orders for 2020
Announced $750 M Order from Beijing Silk Road Rainbow Car Rental
Announced $125 M Order from Sichuan Shenwu Yunli Transportation
Announced $250 M in Multiple Orders from Zhitong 3000
Announced May 1st Operational Opening of Qingdao EV Hub
Ideanomics' MEG Announces the Formation of Business Entities to Capitalize on China's RMB 24 Trillion
($3.4 Trillion) "New Infrastructure" Investments
NEW YORK, Ideanomics Inc., (NASDAQ: IDEX), announced the formation of two core business entities to capitalize on China's 24 trillion RMB / $3.4 Trillion "New Infrastructure" investments. The Chinese government is accelerating its New Infrastructure" investment as part of the financial stimulus measures put in place to help stabilize growth and employment, serve consumption upgrades, and improve overall quality of life. As of March 4, seven provinces and cities have launched more than 24 trillion RMB / $3.4 Trillion in key new infrastructure construction projects.
Capitalizing on the Electric Vehicle Revolution
"Focused on facilitating end-to-end solutions for the purchase of commercial electric vehicles & developing next generation of financial services and Fintech products"
Key Investment Highlights
EV World Market Growth CAGR of 25.6%
Institutional Ownership
Doing Business In the Largest Market in the World
Strong Experienced Management
2020 Exponential Growth Potential with $1B of EV Orders
Overview
Ideanomics, Inc. trades on the Nasdaq under the symbol IDEX is based in New York, NY, USA, and has offices in Beijing, China.
Ideanomics is a diversified company and primarily operates in the United States and Asia with reported assets of $164,763,676 along with revenues of $ 43,286,378 (Q-3 2019).
Its main operating division is the Mobile Energy Group (MEG) which has been focusing on the expanding global electric-vehicle market.
MEG specializes with companies that have commercial fleets that require by law and government zero emissions mandates to acquire new electric vehicles for their businesses.
Called the "Amazon Platform" for EV with end to end sales & services where enterprises can have full procurement, financing, insurance, batteries and energy supplies along with subsidies for the adoption of electric commercial vehicles.
Over the next 2 years in China more than 24 million commercial vehicles will be required to be replaced with electric vehicles. Ideanomics is well established and strategically positioned to gain a substantial market share of this EV business opportunity.
MEG operates through partnerships with China’s largest automakers, Build Your Dreams (China) (BYD) and Beijing Automotive Industry Co. (BAIC) as well as 24 transportation and 8 financial partners as an end-to-end solutions provider with vehicle procurement, financing, battery charging and energy management needs.
In July 2019, Ideanomics invested 51 % in Glory Connection Snd. Bhd, (Glory) a vehicle manufacturer based in Malaysia. Glory holds the only license granted to date for the manufacturing of electric vehicles in Malaysia.
Ideanomics’ FinTech division consist of its ownership of the Delaware Board of Trade (DBOT) an Alternative Trading System, Intelligenta a marketing AI solutions company that serves the Financial Services industry and a new FinTech Village, a 58-acre development site in West Hartford, Connecticut.
The fintech business division offers customized services based on best-in-class blockchain, AI and other technologies to mature and emerging businesses across various industries. The company is building a financial technology ecosystem through license agreements, joint ventures and strategic investments, which is referred to as Ideanomics’ “Fintech Ecosystem”.
Share Structure March 31, 2020
Market Cap $158,785,000
Outstanding Shares 162,076,044
Restricted Shares 74,424,144
Unrestricted Shares 87,651,900
52 Week Hi-lo $2.84-$0.27
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