Zotye New Energy Bankruptcy and Liquidation "Iron Bull System" fell down one after another. Should Ren Jian's car dream be broken?

Automatic priority of steam potential | Sun Jinfeng

In 1960s, two automobile bosses were born in Zhejiang, one was Li Shufu and the other was Ren Jian. The difference between the two is one year, and Taizhou and Yongkang are only 200 kilometers apart. However, more than 50 years later, their fate has gone the opposite way. Li Shufu gradually established Geely's automobile empire all over the world through the acquisition of Volvo, but the "Iron Bull" car actually controlled by Britain and Ren Jian gradually declined.

Zotye Automobile, which was put on a hat in June this year, recently announced that it had received a civil ruling issued by Zhejiang Yongkang Court. Zotye New Energy Automobile Co., Ltd., a second-class wholly-owned subsidiary of Zotye Automobile Co., Ltd. (hereinafter referred to as Zotye Automobile), was filed for bankruptcy liquidation by creditors Hangzhou Tiecheng Information Technology Co., Ltd. and Jin Hu (China) Tire Sales Co., Ltd. on the grounds that it could not pay off its due creditor's rights and its assets were insufficient to pay off all its debts.

The announcement shows that after Zotye New Energy enters the bankruptcy liquidation procedure, if Zotye New Energy is subsequently transferred to the reorganization procedure due to legal circumstances, and the company, as a reorganization investor, promotes the successful reorganization of Zotye New Energy, Zotye New Energy will become an important profit source for the company and will play an important role in the company's sustainable operation and development. If Zotye New Energy is not transferred to the reorganization procedure and is finally declared bankrupt by the court, or if it is transferred to the reorganization procedure, the company will lose control of Zotye New Energy and Zotye New Energy will no longer be included in the scope of the company's consolidated statements.

According to Auto-First, Zotye New Energy was established in March of 20 1 1, and it is a wholly-owned subsidiary of Zotye Automobile Co., Ltd. In the years of rapid development of new energy vehicles, Zotye Automobile was quickly laid out and launched. Cloud 100, T 1 1, E200 and other new energy vehicles have achieved good sales at low prices. However, the profits of the above new energy vehicles mainly come from government subsidies. Relevant data show that in 20 15 years, Zotye's new energy vehicle revenue was 210.90 billion yuan, and the subsidy reached1/0.40 billion yuan. After the government subsidies for new energy vehicles were gradually withdrawn, Zotye faced huge problems in its new energy survival without self-hematopoiesis.

In April this year, Zotye New Energy was exposed to arrears of employees' wages, and more than 70 employees went to Hangzhou Qiantang New District Social Security Comprehensive Management Service Center to defend their rights. Previously, Zotye New Energy was sued for defaulting on the supplier's payment, and the liquidated damages for payment and overdue payment amounted to 6160,000 yuan.

In fact, Zotye New Energy's entry into bankruptcy liquidation is only a chain reaction to the difficulties of "Tieniu" automobile operation. Hangzhou Jieneng Power Co., Ltd., Hangzhou Yiwei Automobile Industry Co., Ltd. and Zhejiang Zhongtai Automobile Sales Co., Ltd., wholly-owned third-tier subsidiaries of Zotye Automobile, were all ruled bankrupt and liquidated by Yongkang Court. Not long ago, another wholly-owned third-tier subsidiary, Hunan Jiangnan Automobile Manufacturing Co., Ltd., was also ruled bankrupt and reorganized by Yongkang Court. Many automobile brands, including Zotye Automobile, Ma Jun Automobile, Hanteng Automobile and Hanlong Automobile, are all in business difficulties, and there are endless news about production suspension, unpaid wages and rights protection, and no cars to sell.

Zotye Automobile has always been a controversial car company, and its largest shareholder is Tieniu Group. Its models have been criticized for imitating Porsche, Audi and other models, and even dubbed by some netizens as "Gemstone Platform" and "Audi Platform". However, with imitation and low price, in 20 16 and 20 17 years, the sales volume of zotye automobile exceeded 300,000 vehicles for two consecutive years. After 20 18, the growth rate of China automobile market slowed down, and Zotye automobile began to decline.

Due to the lack of core technology, Zotye cannot adapt to the general trend of the transformation and upgrading of China automobile market, and the decline of new energy subsidies has accelerated its marginalization. In 20 19, zotye automobile could not be sold in most areas because it could not launch a model that met the national six emissions. In 20 19, the sales volume of Zotye (excluding Ma Jun) brand was 1 16600 vehicles, down by nearly 50% year-on-year. In the first half of 2020 affected by the epidemic, Zotye Automobile only sold new cars 14 17.

Zotye Auto101The financial report for the first three quarters released on October 30th showed that the company achieved operating income of 98 10/00000 yuan, down 72.68% year-on-year; The net profit attributable to shareholders of listed companies was a loss of 65.438+0.563 billion yuan, a year-on-year decrease of 654.38+0.0567%. Zotye Automobile predicted that the company's annual loss was 2.2-3.3 billion yuan, up 70.5 1%-80.34% year-on-year. At present, Zotye Automobile has been applied for bankruptcy and reorganization by creditors because it cannot pay off its debts due. If the reorganization fails, it will be declared bankrupt.

Ma Jun Automobile is a brand-new automobile brand with high hopes from Ren Jian. Released in xiong'an new area on June 27th, 20th17th, it is a brand-new independent automobile brand, aiming at further expanding the market coverage of Zotye automobile business, mainly targeting young people and young families in China. On the day of the release of Ma Jun Auto Xiong 'an, Britain and Ren Jian also made a rare appearance as the platform of Ma Jun Auto. However, since the first car, Ma Jun S700, Ma Jun has not developed as imagined by Britain and Ren Jian, and its sales volume and brand are tepid. Until now, it is facing serious operational difficulties.

In 20 16, Hanlong Automobile invested by Tieniu Group, the parent company of Zotye Automobile, launched its first brand-new mass-produced SUV-Hanlong Shi Kuang on 20 19 1. However, due to the lack of core technology, the exterior "borrowed" the design elements of Land Rover Range Rover, and the interior "borrowed" the design concepts of Mercedes-Benz, Jaguar Land Rover and other brands. After all, it is not long-term. Not long ago, Hanlong Automobile announced that it would stop production in the whole company from1October 30th, 2020.

It is another automobile brand invested by Tieniu Group. Hanteng Automobile, located in Shangrao, Jiangxi Province, was also exposed to the news that wages were suspended this year. From this point of view, Ren Jian's "Tieniu" car is almost completely annihilated, whether it is a directly controlled or invested car brand.

For Tieniu Group, which is also in bankruptcy and reorganization, it is still unknown whether Britain and Ren Jian can recover from the biggest setback in the automobile field. One thing is certain, the lack of core technology is that the "Tieniu" car can't survive the pain point of the industry transition period. If this problem can't be solved, the car dream of Ren Jian 17 can only come to an end.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.