AutoBeta(AutoBeta.net)12/19 Report--

Since October this year, four independent car companies, including Zhongtai Motors, have been exposed that they will enter bankruptcy proceedings because of bad debts involving upstream and downstream auto parts suppliers totaling about 50 billion yuan. although various car companies have refuted the rumors, the situation has not improved. According to the Financial Associated Press, the factory is still in a state of suspension.

In response to a series of previous rumors, in November this year, a person in charge of Zhongtai Automobile said that the company had raised 3 billion of the funds and would invest in related research and development and production. "as long as the funds are in place, it will naturally be put into production and sent to the terminal," said the general manager of Zhongtai Automobile Brand Center.

It is understood that in late August this year, led by Zhejiang Merchants Bank, Bank of China, Construction Bank, and Yongkang Agricultural Commercial Bank, four banks, namely, Bank of China, Construction Bank, and Yongkang Agricultural Merchants Bank, issued 3 billion yuan in bail-out loans to Zhongtai Motor, as well as 60 million yuan in subsidies for new energy vehicles given by the local government, in the hope that Zhongtai Automobile can resume production as soon as possible, thus reviving the company's related business.

However, some media recently went to Zhongtai Motor's Yongkang production base for a field visit. From various signs, Zhongtai Automobile is still in a "difficult" state. The reporter entered the factory and found that the employees were loitering or sitting on one side in twos and threes, indicating that the factory had not yet carried out production operations.

The reporter interviewed several Zhongtai employees and said that the new energy plant has not resumed production, so we naturally have nothing to do. Even if the factories of fuel vehicles have operations, they will stop from time to time. In addition, in terms of salary, the employee also revealed that their current salary is only the basic salary, and even less than in the past. A nearby employee also said that their salary has not been paid this month.

Next to the Zhongtai New Energy vehicle factory, you can see a large area of vehicles waiting to be completed are still parked in the open space of the plant, while the fuel car factory is similar, with hundreds of Zhongtai T600 cars covered with dust and waiting for sale. It is clear that Zhongtai's shutdown is partly due to a decline in sales.

According to the latest sales figures of Zhongtai Motor, Zhongtai accumulated sales of 150000 vehicles in the previous November, down 35.9% from the same period last year. "cliff" decline in sales, so that Zhongtai Motor sales decline for many years profit loss. According to the financial report, the operating income in the third quarter of this year was 3.609 billion yuan, down 88.41% from the same period last year, and the net profit of shareholders belonging to listed companies lost 470 million yuan, down 524.50% from the same period last year.

Even the crisis brought about by the decline in Zhongtai car sales has proved the "rumor" and has been passed on to the upper reaches of the supply chain. Shenzhen Beek Battery, a supplier of Zhongtai New Energy vehicles, defaulted because Zhongtai Motor failed to repay on time. Beebik Battery sued Zhongtai Motor twice this year, involving an amount of about 600 million yuan.

Therefore, the affected Bic battery will once again be affected upstream. In November this year, four listed companies of Science and Technology Innovation Board, including Rongbai Technology, Dangsheng Technology, Hangke Technology and New Zebang, announced accounts receivable for Bic battery one after another. Data show that Bick battery owes a total of about 722 million yuan to the above four enterprises. However, the Bic battery indicates that due to Zhongtai's reasons, it will negotiate with Zhongtai and other customers to deal with the refund.

At the same time, Bic Battery also said that Zhongtai Automobile also showed a positive repayment attitude, and the local government leader in charge of Zhongtai's rescue also said that it would give priority to supporting Zhongtai to repay Bic's debt.

According to the current situation of Zhongtai Automobile, it will only fall into an endless cycle. If the vehicle cannot be sold, it will not be able to get the resources back. Naturally, it will not be able to make repayment to the upstream. Without repayment, the upstream will not be supplied, and Zhongtai can only continue to stop production. Some people in the industry said that according to the current situation of Zhongtai, it is not only difficult to reverse losses in the short term, but also follow-up financing will be affected.

In the face of difficulties, Zhongtai Motors is still planning for future products, and will launch more than 20 Zhimei Chinese models in the next three years. And more than 10 new energy products, committed to building a "3.0Times" Zhimei Chinese car with TS5 and B21 as the core, as for the big gap between the time and the reality, time can tell.

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