Beiguangtou recruitment

The price war in the first quarter of this year made the market more and more complicated and accelerated the elimination of the industry.

In April, Sky Motor issued a statement to stop production, Baoneng Automobile was exposed to a number of assets being disposed of, and the automobile also announced that it would stop serving ... After them, Aichi, who has the title of "the most reliable new force to build a car", was also exposed to wage arrears.

On April 10, a Notice on Delaying Payment of March Wages issued by Aichi Automobile Human Resources Department flowed out. According to the notice, due to objective reasons, Aichi had to make a decision to postpone the payment of wages and pay the social security and provident fund for employees in March normally. In this regard, Aichi Automobile responded that wages were in arrears and the company's operations were all normal.

However, Aichi did not explain the specific "objective reasons", and the notice did not specify the length of arrears of wages. More importantly, this is not the first time Aichi has defaulted on his salary.

More cars and more sides.

Tracing back to Aichi's "history" of wage arrears first occurred in the first quarter of 2020. At that time, it was reported that Aichi was deducted 10% of employees' salary without notice, and all employees' year-end bonus for 20 19 was cancelled.

According to the situation reflected by the internal staff at that time, the salary of about 1 ,000 yuan was deducted in February 2020, and the year-end bonus was not issued. Some employees also said: "The salary was reduced only when the salary was paid in February 10. Many Aichi employees did not even receive verbal notice. "

In the same year, in June+10, 5438, Aichi launched the scheme of "senior management with goods" and "all-staff marketing". According to the details of the exposure, the salary of L2 level and above will be delayed by 50% every month before the annual executive delivery target is completed. If the index of the current year is completed at any time before the end of the year, all the postponed parts will be reissued and the normal monthly salary payment standard will be restored. The completion of the annual marketing target of L4 and L3 employees will serve as an important reference for the annual performance appraisal.

By 202 1, 1 1, Aichi employees received an email notice from the human resources department, saying that "due to force majeure factors such as the outbreak of epidemic in Shangrao, the company had to make a decision to postpone the salary payment of 10 until the end of this month. Social security has been declared and paid normally this month, please rest assured. "

From this perspective, the delay in paying wages in March is almost the same as the delay of 202 1, 1 1.

In addition, it is reported that Aichi Automobile also delayed the salary payment in March this year, from the fixed salary date of March 10 to 17. Aizhi. com stopped recruiting last year and suspended payment to suppliers internally.

The direct cause of wage arrears and supplier arrears is naturally that there are many problems in the internal capital chain. The data shows that Aichi Automobile's operating income in 20 18 was 33190,000 yuan and its net loss was 970 million yuan. By the end of March 2065438+2009, Aichi's total liabilities had reached 2.407 billion yuan, with an asset-liability ratio of 97.5%.

Domestic goods are weak, but marine goods are ineffective.

For such a situation, Aichi at the beginning of the car was definitely unexpected. According to public information, Aichi Automobile was founded by Fu Qiang in 2065438+February 2007. Fu Qiang 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 Quatrro four-wheel drive, also joined Aichi as the chief product officer.

With the deep background of several traditional automobile manufacturers, Aichi Automobile initially developed very rapidly. After the establishment of the company, Aichi Shangrao factory started construction soon, and the project was capped in February 2065438+2008. The two-phase production capacity can reach 300,000 vehicles. 20 19 July, Aichi acquired 50% equity of Jiangling Holdings for174.7 billion yuan and became its largest shareholder, which also set the highest cost record for the new domestic car-making forces to obtain production qualification at that time.

In terms of products, U5, the first model of Aichi, was put into pre-sale in April 20 19, and was officially launched in February of the same year. Moreover, unlike other new car-making forces, Aichi Automobile has been focusing on overseas markets since its inception.

In 2020, Aichi officially exported Aichi U5 to German, Danish and other European countries, which was the first brand of China New Power to enter the European market. In the same year, more than 65,438+0,000 vehicles were exported. Since then, Aichi has rapidly expanded its business in overseas markets and exported to more than 20 countries.

However, with the entry of brands such as Weilai and BYD into the European market, the competitiveness of Aichi products in overseas markets has also been weakened. According to official data, as of June 2022, 1 1, Aichi has sold 6,464 vehicles overseas.

In the domestic market, the market reaction of Aichi U5 is also very weak. The data shows that Aichi Automobile sold 2,600 vehicles in 2020, 30 vehicles in 202 1 year and 2,824 vehicles in 2022+0-August.

Aichi doesn't want to conquer the world by only one model. In April of 20021year, Aichi released its second mass production model Aichi U6. U6, which was originally scheduled to be delivered in June 5438+in the same year 10, was not officially listed until June 5438+10 in 2022. What's more, the addition of new models failed to save Aichi's sales decline. Relevant data show that the sales volume of Aichi Automobile in the first two months of 2023 did not even exceed 100.

The reasons for the sharp drop in sales obviously include the shortage of models and brands. Information from Tianyancha shows that Aichi has completed nine rounds of financing since its establishment six years ago, 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.

Can't afford to hurt.

From the financing point of view, Aichi's latest transaction amount occurred in 1 1 month in 2022, and the investor was Huaxia Boya. The transaction title was "Proposed Acquisition".

I have to mention here that Aichi made great changes in management last year.

June 5438 +2022 10, Aichi Automobile obtained Series A financing from Chen and its subsidiary Dongbai Group, with a financing amount of several hundred million dollars. After that, the management of Aichi Automobile has undergone major changes-Fu Qiang, the founder of Aichi Automobile, no longer serves as the legal representative, chairman and president; Chen took over as the legal representative and chairman of Aichi Automobile.

After Chen took office, Aichi began to try to ease the shortage of funds by backdoor listing. In September 2022, 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 shares in Aichi is 5 billion to 6 billion US dollars.

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

In June 2022, 1 1, Shanghai Investment Management Co., Ltd. and Shanghai Beiguangtou Private Equity Management Co., Ltd. announced that "due to Chen's personal reasons, there is uncertainty in the operation and management of the financier, and the principal and interest of some products have not been paid on schedule". After that, Chen quickly stepped down as the legal representative and chairman of Aichi Automobile, and lost the following after listing on the backdoor.

To this end, Aichi Automobile also issued a statement saying that the dispute was mainly caused by Chen's personal debt and did not affect the normal operation of Aichi Automobile. 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.

As a result, the sharp decline in backdoor listing has made Aichi more difficult, and Aichi's business dilemma can only last or even get worse, which may lead to the delay of wages in March. ...

Aichi's dilemma is just another miniature behind the elimination of the automobile market. With the involution of the auto market this year, the living space of weak brands with small sales and tight capital chain will only become narrower and narrower.

This article comes from the author's car headline V, and the copyright belongs to the author. Please contact the author in any form. The content only represents the author's point of view and has nothing to do with the car reform.