Jia Yueting said he would speed up repayment of domestic guaranteed debts and return to China as soon as possible

Jia Yueting announced on his personal Weibo,The second creditor trust was formally established. He will accelerate the repayment of domestic guaranteed debts, fulfill his responsibilities to the end and return to the country as soon as possible.Jia Yueting said that when LeTV’s debt crisis broke out in 2017, I assumed huge debts due to joint and several guarantee obligations for the LeTV system. In order to pay off debts, I tried every means to dispose of assets at home; in the United States, I completely solved the debt problem under U.S. law through debt restructuring.

But for me, repaying debt is not only a legal responsibility, but also a moral obligation and belief. No matter where I am, I work hard every day to pay off my debts as soon as possible and return to my motherland. As long as I can promote the realization of this goal, I will do my best.

After several months of consultation and demonstration on the new trust plan, my second irrevocable trust has been officially established and can be implemented. The assets of the second trust mainly come from two parts:

One is 50% of the shares obtained under the "Shareholder First" equity incentive granted to me by FF.

The second is 50% of the approximately 7% shares of the Nasdaq-listed company AIXC I invested in.It should be noted that the principal of this investment comes from borrowings from FFGP Partners, and this part of the assets will soon be injected into the second trust.

The reason why only 50% goes into the second trust is because I will continue to invest the other 50% in FF to support the EAI flywheel business, thereby accelerating the value release of FF and accelerating debt repayment.

Jia Yueting also said,The second trust is a further substantive action taken by me to voluntarily fulfill my responsibilities. I will continue to fully promote the success of FFAI and AIXC, so that domestic creditors can receive substantial returns as soon as possible.

Finally, Jia Yueting said, no matter what the outside world thinks, there are actually only two things in my life. One is to create an EAI ecosystem and bring a transformative driving role to society, and the other is to pay off domestic debts and return to the motherland as soon as possible.

Trust is the greatest asset of an entrepreneur; fulfillment is the highest form of belief. I am very grateful to everyone who has always believed in me. I will continue to use my practical actions to protect this hard-won trust.