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In 2020, Zhongtai Motor, which once sold 330000 vehicles a year, seems to have encountered a lot of trouble. news about "Zhongtai system" shutdown, wage arrears and rights protection, bankruptcy reorganization, bankruptcy liquidation and so on. After Zhongtai, Junma, Hanteng and Hanlong, another "Zhongtai" enterprise was mired in debt crisis and was filed for bankruptcy liquidation by creditors.

Recently, * ST Zhongtai issued a notice showing that it recently received a "civil order" issued by Zhejiang Yongkang Court. Zhongtai New Energy Automobile Co., Ltd., a second-class wholly-owned subsidiary of Zhongtai Automobile Co., Ltd. (hereinafter referred to as "Zhongtai Automobile"), was used by creditors Hangzhou Tiecheng Information Technology Co., Ltd. and Jinhu (China) Tire sales Co., Ltd. on the grounds that they could not pay off the due claims and the assets were not enough to pay off all the debts. Was filed for bankruptcy liquidation.

The content of the announcement shows that after Zhongtai New Energy enters the bankruptcy liquidation procedure, if Zhongtai New Energy changes to restructuring procedures due to legal circumstances and the company acts as a restructuring investor and promotes the success of Zhongtai New Energy restructuring, Zhongtai New Energy will become an important source of profits for the company and will play an important role in the continued operation and development of the company. If Zhongtai New Energy does not turn into the reorganization procedure and is eventually declared bankrupt by the court or if a party other than the company acts as the reorganization investor, the company will lose control of Zhongtai New Energy. Zhongtai New Energy will no longer be included in the company's consolidated statement.

According to Tianyan check information, Zhongtai New Energy was established in March 2011 with a registered capital of 100 million yuan and is a wholly owned subsidiary of Zhongtai Automobile Co., Ltd. Hangzhou Jieneng Power Co., Ltd., Hangzhou Yiwei Automobile Industry Co., Ltd., and Zhejiang Zhongtai Automobile sales Co., Ltd., its third-tier wholly-owned subsidiaries, have all been declared bankrupt by Yongkang Court, Zhongtai Automobile said in the announcement.

In fact, it is not surprising that Zhongtai New Energy has been filed for bankruptcy liquidation. In April this year, because Zhongtai New Energy owed employees' wages, more than 70 employees went to Hangzhou Qiantang New District Social Security Integrated Management Service Center to protect their rights. According to employees, most of the employees were in arrears during the period from October last year to rights protection, and only a small number of new employees received their January salaries. Subsequently, a suspected Zhongtai response screenshot shows that the 2019 salary will be settled by the end of June, and the 2020 salary will be reissued after normal operation, followed by a normal monthly payment.

Earlier, Zhongtai New Energy was sued for failing to pay its suppliers. In November last year, Zhongtai Automobile announced that its wholly-owned subsidiary Hangzhou Energy Saving Power Co., Ltd. owed Shenzhen Bic Battery Co., Ltd. a total of 616 million yuan in liquidated damages and requested that Zhongtai New Energy Automobile Co., Ltd., Yongkang Zhongtai Automobile Co., Ltd., Zhongtai Automobile and Jin Zheyong be jointly and severally liable for the above debts.

Zhongtai Automobile used to sell more than 300000 vehicles a year. The early Zhongtai Automobile was sought after by consumers with its "one tape measure", especially the T600 and SR9 models. However, due to the lack of core technology, Zhongtai Motors can not be sold in most areas due to the lack of product reputation and declining sales, and because it is unable to launch models that meet the sixth national emissions. At present, Zhongtai Motor is also filed for bankruptcy reorganization by creditors because it is unable to pay off its maturing debts. If the reorganization fails, it will be declared bankrupt.

At present, "Zhongtai" enterprises, including Junma, Hanteng, Hanlong, Zhongtai and other "Zhongtai" enterprises are in operational difficulties, stop production, wages and rights protection, no car to sell and other news constantly. In addition to Zhongtai Automobile, including FAW Xiali, Changfeng Cheetah, Chongqing Lifan, brilliance China and other car companies have also encountered operational difficulties one after another. This time, Zhongtai New Energy has been filed for bankruptcy liquidation, and the survival of marginal car enterprises has been sounded the "alarm" again. We will also continue to pay attention to the follow-up development of these car enterprises.

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