AutoBeta(AutoBeta.net)06/24 Report--

Capital emergency loss of 10 billion, production stagnation base holiday, Zhongtai auto employees finally ushered in progress in the event of salary and rights protection. It is said that after the employees applied for assistance from the relevant local departments in Hangzhou, Zhongtai and the arbitration staff have reached a consensus on the payment amount and payment cycle, and signed an arbitration mediation statement that Zhongtai should pay the full salary to the employees on June 30.

In April this year, netizens revealed on the Internet that Zhongtai Automobile Company was in arrears of wages and employees were protecting their rights at the Comprehensive Social Security Management Service Center of Qiantang New area in Hangzhou. In response to this protection of rights, the Hangzhou Qiantang New area Labor and personnel dispute Arbitration Commission and relevant local departments have opened a green channel for Zhongtai Automobile Collective arrears of wages Arbitration, and hired a number of lawyers to provide legal aid for 100 employees, some of which have entered the filing process.

On June 23, a Zhongtai employee told Tencent that since November last year, Zhongtai had not paid wages and owed wages for eight months. at present, nearly 120 employees have received arbitration mediation statements. Zhongtai and Zhongtai have reached a consensus on the amount of payment, payment cycle, and signed the arbitration mediation statement, "according to the court arbitration mediation statement, the company will pay us all wages on June 30."

The employee also said that the company recently sent another notice saying that "due to the malaise of the automobile industry and the serious impact of the epidemic, combined with the current actual situation of the company, the company expects to settle the salaries of employees who left before June 30, 2020 by July 31, 2020." If you are willing to stay, you are welcome to advance and retreat with the company, and the wages owed are uniformly arranged by the group. "

It is said that there are more employees waiting for the outcome of the arbitration.

Zhongtai Automobile is one of the domestic car companies in operational difficulties. Affected by the changes in the market environment and the company's operating problems, Zhongtai Automobile lost nearly 11.2 billion yuan in 2019. At the same time, the promotion and production operation of new cars also stagnated for a time.

On June 22, Zhongtai officially released its annual performance report in 2019. During the reporting period, Zhongtai Automobile produced a total of 16215 cars and sold 21224 cars, with production and sales declining by more than 85% compared with the same period last year. According to the report, Zhongtai Motor's operating income in 2019 was 2.986 billion yuan, down 79.78 percent from the same period last year, while its net profit was a loss of 11.19 billion yuan, down 1498.98 percent from the same period last year.

In view of the reasons for the substantial loss in performance, Zhongtai Automobile said in the financial report: first, under the influence of the macroeconomic situation, the overall prosperity of the automobile industry is not high, and the competition in the industry is becoming increasingly fierce. the company's liquidity shortage and other factors led to a sharp decline in the company's vehicle sales, falling short of expectations. Due to the sharp decline in sales, the company's operating income has dropped sharply, and operating costs have risen relatively, resulting in large operating losses. The second is to make provision for impairment of large goodwill and other assets.

In addition, Zhongtai Automobile shares have been delisted risk warning, the short name of the stock has been changed from "Zhongtai Automobile" to "* ST Zhongtai", and the daily rise or fall limit of stock trading is 5%.

Its own poor management is the core reason for the plight of Zhongtai Automobile, with huge losses and constant troubles, which further overwhelms Zhongtai. On the other hand, a number of independent car companies have operational problems one after another, which precisely reflects the competitive environment of survival of the fittest in the industry.

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