Jiangsu Lindsay Automobile is struggling to survive, and the chairman did not return to China because of the emergency of funds.

Wang Xiaolin posted an internal letter to all employees of Jiangsu Lindsay, saying that the company's efforts in the past three years had to come to an end temporarily because of Qiao Yudong's false accusation. If shareholders can't reach an agreement to solve the company's working capital, the company will be unsustainable.

Wang Xiaolin said in the letter that because Qiao Yudong's false accusation was fermented in online media, some suppliers completely frozen Jiangsu Lindsay's account through the court, and Rugao municipal government has organized a working group to investigate Qiao Yudong's case. Wang Xiaolin said that in the United States, he bought more than a dozen return air tickets in the past few months, all of which were cancelled by airlines.

On April 27th this year, Qiao Yudong issued a real-name report letter, claiming that the shareholders of four foreign-funded enterprises in Jiangsu Linsai actually controlled by Wang Xiaolin bought Jiangsu Linsai shares at a price of 6.6 billion yuan by means of "false technology investment". Nantong Jiahe, the sole state-owned shareholder of Jiangsu Lindsay, actually provided funds, including all the daily operation and factory infrastructure expenses of Jiangsu Lindsay.

According to the survey, the registered capital of Jiangsu Linsai Automobile Technology Co., Ltd. is 654.38+0.00 billion yuan, and the major shareholder is Nantong Jiahe, with a cash contribution of 334.5438+0.87 billion yuan, holding about 33.42%. The above-mentioned four foreign-invested enterprises owned by Wang Xiaolin are funded by intellectual property rights, with a total shareholding of about 66.58%, becoming the actual controllers of the company.

It is understood that Wang Xiaolin's 6.6 billion yuan "technical contribution" is based on the evaluation reports of Bandung and Central Songde. In the above appraisal report, the model "Ji Tai Maimika" contributed by Ji Tai Electric Vehicle Co., Ltd. as technology is estimated to be116.92 million yuan, and the other three models marked as Lindsay brand are estimated to be1880.42 million yuan,10.

After the incident was reported, Jiangsu Lindsay was caught in a storm of public opinion and the company's operation was extremely difficult.

Wang Xiaolin said in an internal letter that none of Qiao Yudong's false accusations were true, from capital contribution to related party transactions to personal expense reimbursement. However, due to the incident, the company's three-year efforts had to come to an end temporarily. "According to the joint venture agreement of Jiangsu Lindsay, foreign shareholders will provide models, technologies and brands, state-owned shareholders will provide basic working capital guarantee, and both parties will support the development of the company with financing. The 3 billion yuan financing originally reached with investors should have been gradually put in place in May this year. Because of Qiao Yudong's false accusation and his direct call to investors to sabotage financing, investors decided to shelve their investment before the government made an investigation conclusion. "

Wang Xiaolin said, "Although the four foreign shareholders immediately agreed to hold a shareholders' meeting, we have not received a reply from the state-owned shareholders until today. Because state-owned shareholders have a veto power over major decisions of the company, shareholders' meetings without state-owned shareholders will not be able to make any major decisions. " If shareholders can't reach an agreement to solve the company's working capital, the company will be unsustainable.

Lindsay Automobile is an American supercar brand, which was introduced from Wang Xiaolin, and based on this, Jiangsu Lindsay was established. On July 20th, 20 19, Lindsay held a brand and new car launch conference in Beijing Bird's Nest, announcing that Lindsay has four products, including the fuel version of super sports car Lindsay S7, coupe Lindsay S 1, SUV Lindsay Mike and pure electric vehicle Lindsay Pulse. At present, only Sailingmai has been put on the market, which is positioned as a miniature electric sports car.

Due to poor sales and the company's difficulties, Xilin Maimai was also reported to suspend production. Some internal employees said in an interview with the media that the factory has not produced since it resumed production at the end of April, mainly to do some equipment debugging, cleaning and internal training, and when it officially resumed production has not been notified.

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