JB and ZJMY Holding Co (JBZY)

[yestommj]

IMHO,
NIO is doing the $1.6B IPO to raise cash for operations. The security firms behind NIO are getting a nice cut of the pie. That's not Wang's way of doing business. He doesn't need to give away 20-30% to raise cash That's because Jinbo has the financial resources, so they don't need to raise cash like a typical IPO. That is why they are doing a "backdoor listing". It has been mentioned on several WeChat posts and elsewhere about their "backdoor listing. This is real and it will happen with more than just EVs and batteries IMO.