AutoBeta(AutoBeta.net)07/13 Report--

On July 13, Wang Xiaolin, chairman of Sailin Automobile, once again issued a letter to all employees and former employees, saying that arbitration would be initiated in Hong Kong. Rugao State assets and the Development Zone Management Committee's compensation for breach of contract to Jiangsu Sailin will first be used to fully pay all employees and former employees' wages, social insurance, tax insurance and other legal compensation and compensation claims.

Wang Xiaolin said in an internal letter that the shareholders' meeting on July 4 had legally passed a shareholders' meeting resolution requiring state-owned shareholders to repay 300 million yuan owed to Jiangsu Sailin within five working days in accordance with the provisions of the joint venture agreement. Five working days have passed and the state-owned shareholders still do not communicate and initiate arbitration in Hong Kong over the violation of the joint venture agreement between the state-owned shareholders and the management committee of the Rugao National Economic Development Zone. It said that as a shareholder, it promised that the compensation for breach of contract offered by Rugao State assets and the Development Zone Management Committee to Jiangsu Sailin would first be used to fully pay all employees' wages, social insurance, tax insurance and other legal compensation and compensation claims.

When Jiangsu Sailin Automobile was launched in high profile in Shanghai in 2017, Wang Xiaolin also brought a supercar, the Sailin S1. Wang Xiaolin said that when the domestic plant is completed, in addition to manufacturing supercars, its production line will also cover mid-and high-end SUV and cars.

In July 2019, Sailin held a brand and new car conference at the Bird's Nest in Beijing. Consumers thought that Sailin would launch a super car model, but instead unveiled an "old man music"-Sailin Maimai. Maimai, the only mass-produced model in Sailin, started pre-sale in November 2019, but rushed off the shelves just two months after it was sold, with a cumulative order of only nine.

In 2020, due to the impact of the epidemic, Sailin began to fade out of view, there is less and less news about Sailin, and consumers seem to pay less and less attention to the brand.

I believe we all know the rest. Due to a real-name report letter from a former employee, Sai Lin and Wang Xiaolin became the focus of public opinion. Affected by the report letter, the Sailin automobile factory was seized and its assets frozen. Wang Xiaolin was also put on file for investigation by the public security organs on suspicion of providing false certification documents and misappropriating huge funds, and the layout of Sailin in China can also be said to have ended in failure.

Where will Sailin go after it is "out"? Wang Xiaolin, who is in the United States, said in an interview with the media that Jiangsu Sailin is no longer available, but foreign shareholders will arbitrate in Hong Kong for Nantong Golden Harvest compensation for breach of contract, and I will pursue the responsibility of all individuals and institutions that falsely accuse me. Jiangsu Sailin is gone, but Sailin will continue to develop.

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