AutoBeta(AutoBeta.net)10/15 Report--

Recently, Yinlong New Energy Co., Ltd. (hereinafter referred to as Yinlong New Energy) was publicly listed on Ali auction platform, and its 23.95 million shares will be auctioned on October 17th, 20th, 25th and 29th respectively. The listing was commissioned by Zhuhai Peace auction Co., Ltd. to carry out the auction, with a total starting price of 646.65 million yuan. The website also said: "the stock has been frozen and sealed up."

It is not the first time that Yinlong New Energy shares have been auctioned. From July 10 to October 14 this year, Yinlong New Energy shares have been auctioned five times, with a total of 24.1 million shares auctioned at a total price of 699.15 million yuan.

According to public data, Yinlong New Energy Co., Ltd., established on December 30, 2009, is a new energy industry group integrating battery, motor electric control, charging equipment, pure electric vehicle research and development, production, sales and power battery recycling. At present, the company has 24 shareholders, the first largest shareholder is Zhuhai Yinlong Investment holding Group Co., Ltd. (hereinafter referred to as Yinlong Group), the second largest shareholder is Dong Mingzhu, and the third largest shareholder is Sunshine Life Insurance. The "stock freeze and seizure" shown on Ali's auction platform is mainly Yinlong Group, whose 25.9895% stake is frozen by the Xiangzhou District people's Court of Zhuhai City.

In 2016, Dong Mingzhu invested in Yinlong New Energy and entered the new energy automobile industry from the field of home appliances, taking advantage of the golden moment of the new energy automobile era. After taking a stake in Yinlong New Energy, it continues to occupy the hot headlines because of arrears of payment, compensation fraud, work stoppage, layoffs and other negative news.

In early 2018, it was revealed that Yinlong New Energy was in arrears with suppliers, and a number of suppliers asked for payment at the Yinlong gate; in May 2018, Yinlong New Energy listing tutoring was terminated, and large-scale work stoppage and employee turnover occurred in its Wu'an Automobile Industrial Park in Handan, Hebei Province; in July 2018, Yinlong New Energy Nanjing Industrial Park had a dispute with the owner and was seized by the higher people's Court of Jiangsu Province. In November 2018, Yinlong New Energy revealed that Wei Yincang, a major shareholder, and Sun Guohua, former president, encroached on the company's interests through related party transactions, involving more than 1 billion yuan. Yinlong New Energy was listed as the executee by the Beijing No. 1 Intermediate people's Court in November 2019, and the target of execution was 36.668 million yuan.

At present, the main business of Yinlong New Energy is mainly new energy commercial vehicles. According to the latest data from the China bus Statistical Information Network, the sales of Yinlong new energy buses from January to August 2020 were 596, down 56.65% from the same period last year. Today, the performance of Yinlong New Energy is sluggish, and now that Yinlong shares have been frozen and sealed up and listed for sale, where will Dong Mingzhu's dream of building cars with new energy go?

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