Huatai Automobile flagship store "closed" and its Beijing headquarters was protected by rights protection

At the Huatai Automobile Group headquarters located near Lishuiqiao, few employees came out to walk around and get some fresh air. A deliveryman said that in the past two days, employees held banners in front of the building to defend their rights, claiming that they were owed several months of wages.

Previously, Huatai Automobile continued to receive negative news.

Li Silian, chairman of R&F Properties, stated at the interim results meeting on August 22, 2019 that all cooperation with Huatai Automobile has been suspended, and the market's response to this was "not good." At the meeting, Li Silian also officially put an end to the short-lived marriage of less than 2 months: the two parties had only a cooperation intention before, and did not involve due diligence and other aspects, let alone a shareholding. We have not entered the automobile industry, and we are not considering it now.

Since the signing of the cooperation between R&F Real Estate and Huatai Automobile in July, there have been constant doubts in the market. Pacific Securities also took Huatai Automobile and its actual controller Zhang Xiugen to court on the grounds of a bond transaction dispute, requesting the court to order Huatai Automobile to pay the principal of "16 Huatai 01" bonds of 61.789 million yuan and corresponding interest, overdue interest and liquidated damages.

According to reports, since July, Huatai Automobile has been involved in multiple bond-related disputes with "Pacific Securities", "Jiuzhou Securities", "Guohai Securities", etc., "16 Huatai 01", "16 Huatai 02", "16 The total principal and interest amount of the three defaulted bonds of China Automobile 02" exceeds 1.7 billion yuan. Dagong International Credit Rating Co., Ltd. also issued an announcement saying that in view of the tight capital chain and high default risk, it decided to adjust the main credit rating of Huatai Automobile to BB, and the rating outlook was adjusted to negative.

On July 26, Sugon Co., Ltd. issued an announcement stating that it was found that the company’s shareholder Huatai Automobile (the largest shareholder of Sugon Co., Ltd.) had irregularities in information disclosure. At the same time, Huatai Automobile was criticized by the Shanghai Stock Exchange. The Shanghai Stock Exchange will notify the China Securities Regulatory Commission of this disciplinary action and record it in the integrity file of the listed company. The previous announcement of Sugon Shares also showed that Huatai Automobile's 19.77% stake in the listed company Sugon Shares has been pledged to Jinzhou Bank. At the same time, all these shares have been frozen by the judiciary for a period of 3 years.