Another established automobile group filed for bankruptcy and reorganization.

Electric Home News, 165438+ 10/3, Brilliance Automobile Group Holding Co., Ltd. (hereinafter referred to as "Brilliance Automobile"), a veteran automobile group, has been filed for bankruptcy and reorganization by Gezhi Automobile Technology Co., Ltd. There is no more information about the specific reasons and further progress of Brilliance bankruptcy and reorganization. Some media called Brilliance Auto Group and Gezhi Auto for interviews, but no response was received as of press time.

According to electrical experts, Gezhi Technology is a supplier of automobile stamping dies, and its registered address is Liaoyuan City, Jilin Province. Mainly engaged in the design, research and development, manufacturing and sales of automobile stamping dies, providing customized services for global automobile OEMs and parts manufacturers.

It is worth noting that, before filing for bankruptcy reorganization, Brilliance Auto had attracted much attention from the market because of its high debt and debt default. 165438+1October 3, Bloomberg reported that the Liaoning provincial government is considering judicial reorganization of Brilliance Auto to solve the debt problem. According to the report, the Liaoning provincial government has communicated with the financial regulatory authorities on the restructuring of Brilliance Group, but there is no clear restructuring plan at present, and related matters are still under discussion, so there are still variables. At that time, the rumor was not officially confirmed.

The data shows that by the middle of 2020, Brilliance Group will have liabilities of 654.38+032.8 billion yuan, assets of 654.38+093.3 billion yuan and asset-liability ratio of 68.72%. By the end of 10 this year, Brilliance Auto had issued 34 bonds, with 14 remaining bonds, with a balance of * * *16.2 billion yuan. Judging from the distribution of expiration, the pressure of expiration and resale of Brilliance Auto is concentrated in 202 1 and 2022. The maturity and resale scale of bonds are 6.5 billion yuan and 9.2 billion yuan respectively, involving 4 bonds and 8 bonds respectively. Electrical experts have learned that in September this year, there were rumors that Liaoning Communications Construction Investment Group would lead the privatization plan of Brilliance China. (100 billion debt at the top? Although Brilliance Group refuted the rumor that Liaoning Trading Co., Ltd. is considering taking the lead in privatizing Brilliance China, there is no doubt that it is facing a huge crisis. According to the financial report, the net profit attributable to shareholders of Brilliance China Company in 20 19 was 6.762 billion yuan, of which BMW Brilliance contributed 7.626 billion yuan and sold 545,900 vehicles, up by 226.5438+0% and 65.438+07. 1% respectively. That is to say, during the whole year of 20 19, China Brilliance realized that BMW Brilliance increased the company's profits, while all other businesses lost money.

However, with the arrival of 2022, Brilliance's equity in BMW Brilliance will be reduced from the current 50% to 25%, and BMW Brilliance, a hematopoietic machine, will also greatly reduce Brilliance's hematopoietic function. Although you can get about 35 billion yuan from selling shares, how long can this money last? In fact, there is not much time left for Brilliance Auto.

In August this year, some media revealed that except middle-level and above leaders, other employees of Brilliance China are about to take a long vacation, or it will last until the end of the year (the production system may have other standards). For Brilliance China, this notice of taking a long vacation is not particularly unexpected, because Brilliance China has implemented a rotation system since July, and employees who rotate at home are only paid according to the minimum wage in Shenyang. This time, Brilliance China will once again expand the holiday scope, and most employees of Brilliance China will have to accept the minimum wage of Shenyang 18 10 yuan. But the monthly income 18 10 yuan can hardly support the expenses of an employee or even a family. Because "leaders go to work, employees have holidays", employees can't get wages, which causes employees' dissatisfaction.

In fact, it is a pity that Brilliance China has come to this step, but it is also expected. In addition to last year's dismal sales, it is reported that only V3 and V7 models are currently on sale in China 4S store of Brilliance. In the first half of this year, China brand only sold 365,438+086 vehicles, and the average monthly sales volume added up to about 500 vehicles. It can be said that the last straw is gone. This bleak figure really makes Brilliance China unsustainable. Brilliance China brand has long been on the verge of delisting.

Except for the crisis of China brand of Brilliance, almost all other brands of Brilliance are not optimistic. Take brilliance jinbei as an example. Jinbei Automobile listed and transferred 95% equity of Tieling Brilliance Pixel Products, and at the same time transferred 0/00% equity of its real estate development company Shenyang Jinbei Housing Development Co., Ltd./KLOC-to Shenyang Automobile Industry.

Brilliance ushered in major personnel changes last year. Qi Yumin, the chairman who took office nearly 13, suddenly retired early and was replaced by Yan Bingzhe, the former vice mayor of Shenyang. I thought Yan Bingzhe, the new chairman, could bring about new changes soon, because Brilliance needed new changes to stimulate the market. However, after more than a year, Chairman Yan did not come up with a measure that attracted the attention of the industry. Instead, it developed into an unfavorable situation in which China brand took a long vacation and Renault Brilliance laid off employees.

At present, Brilliance Auto doesn't seem to have much motivation to continue to develop its own brand. For today's consumers, Brilliance Auto only has the label of "BMW Brilliance" and relies too much on BMW Brilliance, which leads to the lack of motivation for the development of its own brand, which not only marginalizes the brand of Brilliance China, but also keeps itself in a state of sustained losses. In the future, how to "survive" in the fierce market and how to "live" in the hearts of consumers is an urgent problem for Brilliance Auto.

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