Leidi.com Lei Jianping April 7
Tesla recently submitted its 2022 annual report to the US SEC. The annual report shows that Tesla's revenue in 2020, 2021, and 2022 will be US$31.536 billion, US$53.823 billion, and US$81.462 billion, respectively.
Tesla's operating profits in 2020, 2021, and 2022 will be US$1.994 billion, US$6.523 billion, and US$13.656 billion, respectively; net profits will be US$862 million, US$5.644 billion, and US$12.587 billion.
Zhu Xiaotong was promoted to one of the world's top 4 core executives
According to the annual report, Tesla has four core executives, namely CEO Elon Musk (Elon Musk), CFO Zach Kirkhorn (Zachary Kirkhorn), senior vice president of powertrain and energy engineering Andrew Andrew Baglino and Tom Zhu.
Zhu Xiaotong's status in Tesla has risen rapidly. Zhu Xiaotong joined Tesla in April 2014 as the project director of Tesla's China super charging station; in December of the same year, Zhu Xiaotong succeeded the resigned Wu Bixuan and became Tesla's global vice president and president of China. During Zhu Xiaotong's tenure as the president of Tesla Greater China, the construction of Tesla's Shanghai Gigafactory started. In 2022, the production capacity of the Shanghai Gigafactory will exceed 750,000 vehicles.
The 10-K document submitted by Tesla shows that Tesla’s revenue in China in 2022 will be US$18.145 billion, an increase of 31% from US$13.844 billion in the same period of the previous year, accounting for 22.27% of Tesla’s revenue.
Today, Tesla’s Shanghai Gigafactory is Tesla’s vehicle factory with the highest production capacity in the world, and it is also Tesla’s largest car export center in the world.
Tesla documents show that Zhu Xiaotong has served as Tesla's senior vice president since April 2023.
Information shows that Zhu Xiaotong is 43 years old, graduated from Auckland University of Technology in New Zealand, and obtained an MBA degree from Fuqua Business School of Duke University in the United States. He has rich management experience and multinational work experience.
Musk holds 20.6% of the shares and is the largest shareholder
Musk will spend $44 billion to acquire Twitter in 2022. As part of the deal, Twitter assumed $13 billion in debt, including about $3 billion in unsecured debt, and Twitter paid an interest rate of 11.75%.
During the same period, Musk sold more than $20 billion in equity in 2022.
Among them, in April 2022, Musk sold Tesla shares worth US$8.5 billion, and in August, Musk sold another US$7 billion worth of shares. In November, Musk sold nearly $4 billion worth of Tesla shares, and in December, he sold another $3.58 billion worth of shares.
Some analysts have speculated that the stock sell-off was Musk's response to some of the high-interest debt he paid in the $44 billion Twitter deal.
As of March 31, 2023, Musk holds 20.6%, The Vanguard Group holds 6.9%, and Blackrock holds 5.6%.
As of March 31, 2023, Tesla's shareholding structure
Musk owns about 411 million Tesla shares, 238.4 million of which are used as collateral for personal loans. Based on Tesla's closing price of $185.06 on Thursday, the pledged shares are worth about $44.1 billion.
To mitigate the risk of a forced sale of pledged stock, the Board of Directors established a policy limiting Tesla's pledge of Tesla stock to directors and executive officers.
Under this policy, directors and CEOs may pledge their stock (excluding options, warrants, restricted stock units, or other rights to purchase stock) as collateral for loans and investments, provided that the pledged stock is pledged up to The total amount of loans or investments shall not exceed US$3.5 billion or 25% of the value of stocks, whichever is the lower value shall be the loan limit.
The limit on what other directors and executives can borrow against pledged stock has been reduced to 15 percent from the previous 25 percent.
As of December 31, 2021, Tesla's equity
As of December 31, 2021, Tesla CEO Musk holds 21.2%, The Vanguard Group holds 6%, Blackrock holds 5.1%, and Ira Ehrenpreis holds 1.5%.
On the whole, although Musk has sold a lot of Tesla shares, the shareholding ratio has dropped by less than 1 percentage point.
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