AutoBeta(AutoBeta.net)11/14 Report--

According to data, the installed capacity of power batteries from January to October this year was 46.28GWh, an increase of 33.2% over the same period last year. Among them, Bick battery ranks among the top 10 in the domestic power battery list with the installed capacity of 557MWh.

However, even the current situation of the power battery company is hardly optimistic, and a number of companies have sought debt from Bic Battery.

On November 6, Rongbai Technology announced that the overdue accounts of Bick Power exceeded 206 million yuan, which may not be recoverable.

On November 7, Dangsheng Technology announced that the balance of accounts receivable from Shenzhen Bic and Zhengzhou Bic totaled 378 million yuan, which was at risk of being irrecoverable.

On November 10th, Hangke Technology made a total of 106 million yuan in accounts receivable for Shenzhen Bic battery and Zhengzhou Bic battery. In view of the current repayment risk, it set aside 34 million of the provision for bad debts.

On November 12, New Zebang issued an announcement that Bick Power's accounts receivable balance totaled 38.1447 million yuan, setting aside 4.3747 million yuan for bad debts.

Bick battery encountered a number of listed companies debt collection caused official media attention, CCTV also visited Bick battery company to understand the company's current accounting processing progress of A-share listed companies, the company's managers said, Shenzhen Bic battery and Zhengzhou Bic battery factories are in normal operation, there is no arrears of wages to stop production, but the company does face the problem of tight cash flow. The main reason is the sluggish car market.

On November 12, Bick Battery issued an apology and said it failed to pay the supplier as promised, mainly because the company is currently facing some cash flow pressure and the impact of unpaid payments from Thai Motor and Huatai Motor.

It is understood that Zhongtai Motor and Huatai Motor owed 612 million yuan and 300 million yuan in payment for Bic batteries respectively, resulting in progress in the cash flow of Bic batteries and unable to return the upstream suppliers on time. At present, the two companies have appealed to the court.

Zhongtai Motors had the largest arrears of Bic battery payments, with operating income of 5.401 billion yuan in the first three quarters, down 59.59% from the same period last year, and net profit loss of 760 million yuan, down 283.02% from the same period last year.

Zhongtai's sales and profits have continued to decline since last year, and the situation is getting worse in 2019. At the end of October, Junma Motor, a subsidiary of Zhongtai Motor, once again reported the news that production had been stopped and dealers came to protect their rights. In early November, CCTV exposed that Zhongtai Automobile's production base was semi-closed, and most of its sales outlets had no models to sell.

Although Zhongtai Motor owes twice as much money as Huatai Motor to pay for Bic batteries, its current operating situation is much better than that of Huatai Motor.

Zhejiang Zhuji Wanbao Machinery Co., Ltd., a wholly-owned subsidiary of Wanan Technology, submitted a civil lawsuit to the people's Court of Zhuji City on October 18, demanding Huatai Motor and its subsidiaries to pay about 13.17 million yuan, according to a notice issued by Wanan Science and Technology on November 5.

According to the announcement of dawning Group, the 134 million shares held by Huatai Motor have been frozen many times by the judicial queue, and the overdue debt of Huatai Automobile has accumulated 2.892 billion yuan per month, of which 2.892 billion yuan is involved in litigation.

In addition, Huatai Auto Finance Company was fined 500000 yuan by Tianjin Banking and Insurance Supervision Bureau for failing to perform its duty in the "three checks" of inventory financing loans.

It is worth noting that, affected by the recession of the car market and the decline of subsidies for new energy vehicles, automobile companies are facing unprecedented pressure, and their automobile-related industries, especially the power battery industry, are also greatly affected.

According to statistics from the China Automobile Association, the production and sales of new energy vehicles in China in October were 95000 and 75000 respectively, down 35.4% and 45.6% from July to October.

A middle level of a listed lithium battery company said that subsidies for new energy vehicles will be completely eliminated by the end of 2020, which will put great pressure on enterprises, so it is necessary to urge enterprises to step up their R & D efforts.

The vice president of Yonghe Technology said that the decline of subsidies for new energy vehicles is actually a good thing for the whole industry, and the final product depends on the market. The strong enterprises will become stronger, while the weaker ones will be eliminated if they can't hold on.

In response to the debt collection of various A-share companies, Bick Battery said in an announcement on the 12th, "in addition to actively coordinating and promoting vehicle manufacturers to pay back money back, we have also maintained active communication with shareholders, relevant government parties, and debtors to jointly develop payment solutions and operating capital replenishment programs."

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