Domestic and sea are ineffective, and love is weak and weak?

The price war in the first quarter of this year has made the market more and more complicated, and at the same time accelerated the elimination of the industry.

In April, Sky Motor issued a suspension statement, many assets of Baoneng Automobile were exposed to be disposed of, and Automobiles also announced the suspension of service ... After them, Aichi, who had the title of "the most reliable new car-making force", was also found to have delayed payment of wages.

On April 1th, a Notice on Delayed Payment of Wages in March issued by the Human Resources Department of Aichi Automobile flowed out. According to the notice, due to objective reasons, Aichi had to make a decision to delay the payment of wages and pay the social security and provident fund for employees in March normally. In response, Aichi Automobile responded that wages were delayed and the company's operations were all normal.

However, Aichi didn't make a statement about the specific "objective reasons", and the notice didn't specify how long the salary was delayed. More importantly, this is not the first time that Aichi has delayed paying wages.

The more cars get over the edge

Tracing back to the "history" of Aichi's delayed payment of wages, it first happened in the first quarter of 22. At that time, it was reported that Aichi was deducted 1% of employees' salary without notice, and all employees' year-end awards in 219 were cancelled.

according to the situation reflected by the internal staff at that time, 1 yuan's salary was indeed deducted in February 22, and the year-end bonus was not paid. Some employees also said: "It was only when the salary was paid on February 1 that the salary was reduced. Many employees of Aichi did not even receive the verbal notice."

in October of the same year, Aichi launched the scheme of "senior management brings goods" and "all-staff marketing". According to the details of the exposure, the salary of L2 level and above will be delayed by 5% per month before the annual executive delivery index is completed. If the current year's indicators are completed at any time before the end of the year, all deferred parts will be reissued and the normal monthly salary payment standard will be restored. The completion of the annual marketing targets of L4 and L3 employees will serve as an important reference for the annual performance appraisal.

in November, 221, Aichi employees received an email notice from the human resources department, saying, "Due to the sudden epidemic situation in Shangrao and other force majeure factors, the company had to make a decision to postpone the payment of salary in October until the end of this month. Social security has been declared and paid normally this month, so please rest assured. "

In this way, the delay in paying wages in March is almost the same as that in November 221.

In addition, it is reported that Aichi Automobile delayed the payment of wages in March this year, from March 1th to 17th. And Aichi stopped the recruitment last year, and internally suspended the payment of goods to suppliers.

The direct cause of delayed payment of wages and arrears to suppliers is naturally that there have been many problems in the internal capital chain. The data shows that Aichi Automobile's operating income in 218 was 33.19 million yuan and its net loss was 97 million yuan. By the end of March 219, the total liabilities of Aichi had reached 2.47 billion yuan, and the asset-liability ratio reached 97.5%.

China is weak, and it is difficult to go out to sea

For such a situation, Aichi certainly never expected it when he built the car. According to public information, Aichi Automobile was established in February 217 and was founded by Fu Qiang. Fu Qiang has held senior management positions in FAW-Volkswagen, Beijing Benz and Volvo.

after the establishment of the new company, Gu Feng, former CFO of SAIC, joined Aichi Automobile as co-founder and CEO. At the same time, Roland Gumpert, the father of Audi's Quatrro four-wheel drive, also joined Aichi as the chief product officer.

with the deep background of several traditional car manufacturers, Aichi Automobile developed very rapidly at first. After the establishment of the company, Aichi Shangrao factory soon started construction. In February 218, the project was capped, and the production capacity of the two phases could reach 3, units. In July 219, Aichi acquired 5% equity of Jiangling Holdings for 1.747 billion yuan to become its largest shareholder, which also set a record for the highest cost of obtaining production qualification by new domestic car-making forces at that time.

in terms of products, in April 219, the first model U5 of Aichi opened for pre-sale and was officially launched in December of the same year. Moreover, unlike other new car-making forces, Aichi Automobile has focused on overseas markets since its establishment.

in p>22, Aichi officially exported Aichi U5 to Germany, Denmark and other European countries, which was the first new brand in China to go to sea in the European market. In the same year, it completed the export sales of over 1, vehicles. After that, Aichi rapidly expanded its business in overseas markets and exported to more than 2 countries.

However, as brands such as Weilai and BYD enter the European market, the competitiveness of Aichi's products in overseas markets has also been weakened. According to official data, as of November 222, Aichi * * * has sold 6,464 units overseas.

in the domestic market, the market response of Aichi U5 is also very weak. The data shows that Aichi Automobile sold 2,6 vehicles in 22, 3,11 vehicles in 221 and 2,824 vehicles from January to August 222.

Aichi doesn't want to dominate the world by only one model. In April 221, Aichi released its second production model, Aichi U6. However, U6, originally scheduled to be delivered in October of the same year, was not officially listed until October 222. What's more, the addition of new models failed to save the sales decline of Aichi. Relevant data show that the sales of Aichi Automobile in the first two months of 223 did not even break through 1.

the reasons for the sales collapse obviously include the lack of models and brands. According to the information from Tianyancha, Aichi has completed 9 rounds of financing in 6 years since its establishment, and the official has basically not announced the specific financing amount. However, according to the general logic of building a car, insufficient sales means insufficient hematopoietic capacity, and this cycle will inevitably aggravate the internal funding problem.

Ai Chi, who can't afford to be hurt

From the financing point of view, the latest transaction amount of Ai Chi occurred in November 222, and the investor was Huaxia Boya. The title of the transaction was "Proposed Acquisition".

I have to mention that Aichi made a big change in management last year.

In January, 222, Aichi Automobile received a round of financing from Chen Xuanlin and its subsidiary Dongbai Group, with the financing amount reaching several hundred million dollars. After that, great changes have taken place in the management of Aichi Automobile-Fu Qiang, the founder of Aichi, no longer serves as the legal representative, chairman and president; Chen Xuanlin took over as the legal representative and chairman of Aichi Automobile.

After Chen Xuanlin took office, Aichi began to try to ease the shortage of funds through backdoor listing. In September 222, Huaxia Boya, a teaching and training enterprise listed on Nasdaq, announced that it had reached a non-binding cooperation intention with the operating company of Aichi Automobile and planned to acquire all the outstanding shares of Aichi Automobile. According to the proposed terms of the letter of intent, the total valuation of all the shares of Aichi is $5 billion to $6 billion.

If the acquisition is successful, Aichi Automobile will have the opportunity to be listed on the US stock market through reverse backdoor. ? However, Chen Xuanlin's ambition has not been realized.

In November p>222, Shanghai Beiguang Investment Management Co., Ltd. and Shanghai Beiguang Investment Private Equity Management Co., Ltd. announced that "due to Chen Xuanlin's personal reasons, there was uncertainty in the operation and management of the financier, and the principal and interest of some products were not paid on schedule". After that, Chen Xuanlin quickly stepped down as the legal representative and chairman of Aichi Automobile, and the backdoor listing also lost the following.

To this end, Aichi Automobile also issued a statement saying that the dispute was mainly caused by Chen Xuanlin's personal debt and did not affect the normal operation of Aichi. At present, the chairman of Aichi Automobile is Zhang Yang, the CEO is Qiu Xiaochuan, and Fu Qiang is the co-founder and president of the company.

From this result, the sharp decline of backdoor listing has made Aichi more difficult, and Aichi's business dilemma can only last or even get worse, which may have led to the salary delay in March ...

Aichi's dilemma is just another small microcosm behind the auto market knockout. With the involution of the auto market this year, the living space of weak brands with small sales volume and tight capital chain will only become more and more narrow.

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