Here is an alternate explanation. Please tell me, if this is plausible or not. 1. Tencent bought a lot of shares back in Dec-Feb when SP was low. 2. Tesla/MS/GS approached them when the $350M secondary offering didn't have enough takers. Tencent says "OK, we'll buy some more. But you have to make us an "adviser". '. Tesla agrees, so they buy some more in the secondary offering to reach 5%. BTW, what exactly is this advisory role? It's sure not a seat in the board, is it?