AutoBeta(AutoBeta.net)02/22 Report--

When the domestic car entered the stock era superimposed the impact of the COVID-19 epidemic, the differentiation of car enterprises has been very obvious, especially since the end of 19 years, several car companies that were exposed by CCTV to go bankrupt and reorganized still failed to achieve a return to light after the recovery of the car market in the second half of last year. Recently, as one of the car companies named by CCTV, Lifan announced its production and sales of KuaiBao in January, selling only one fuel vehicle.

According to Lifan's January production and sales figures, the company produced 105 new energy vehicles and sold 107 in January, while in January it produced 12 traditional passenger cars and sold only one, which is undoubtedly a bit embarrassing. Overall, Lifan's business focus is still on motorcycles, motorcycle engines and general gasoline engines.

After all, compared with the automobile data, Lifan these three big data are larger, in which the engine performance has also achieved growth. According to the data, Lifan motorcycle sales were 46321, down 14.24% from the same period last year; motorcycle engine sales were 85594, up 25.19% from the same period last year; and GM gasoline engine sales were 41105, up 36.15% from the same period last year.

Although Lifan successfully reorganized with Geely Automobile, began to vigorously develop new energy vehicles, but from the current sales data of new energy vehicles is still lagging behind, but also far better than fuel models. According to the data, in January, the output of new energy passenger vehicles in Lifan increased by 600% year-on-year, and sales increased by 613.33%; traditional fuel passenger cars fell 91.61% year-on-year; and sales were even worse, down 98.18% from the same period last year.

Although Lifan has not produced any popular models since its establishment in 2003, in that incremental era when supply exceeds demand, the vast majority of independent car companies have been able to achieve year-on-year sales growth. As the domestic market gradually enters the stock era of pursuing high technology and high quality, even many joint venture brands frequently experience a huge decline in sales due to lack of market competitiveness, or even withdraw from the Chinese market, so they are lack of competitiveness. the Lifan car with insufficient brand strength is obviously unable to keep up with the pace of market development and is finally eliminated.

According to Lifan's financial report, Lifan's operating income in 2019 was 1.45 billion yuan, down 32.35% from the same period last year, while the net loss was 4.682 billion yuan, down 1950.83% from the same period last year. In the first three quarters of 2020, Lifan Motor achieved operating income of 2.606 billion yuan, down 61.02% from the same period last year, and net profit was-3.445 billion yuan, down 30.82% from the same period last year. By the end of June last year, Lifan had total assets of about 16.96 billion yuan, net assets of only 106 million yuan, liabilities of 16.77 billion yuan and an asset-liability ratio of 98.87 percent. It can be seen that in the current era of fierce competition, it has accelerated the deterioration of marginal car companies.

In response, in July last year, Lifan issued a notice saying that a number of subsidiaries had been applied to the court for judicial restructuring by creditors because they were unable to pay off their maturing debts, and Lifan officially announced in August that Lifan had entered the bankruptcy reorganization process. Subsequently, Lifan was constantly rumored to be reduced to a "contract factory", but the rumors were repeatedly refuted by Lifan cars, but unexpectedly a year later the rumors came true.

At the end of 2020, * ST Lifan experienced bankruptcy reorganization, Chongqing Manjianghong Investment Fund became a new controlling shareholder, officially announcing the end of Yin Mingshan Lifan era. It took only half a year for Lifan to go from bankruptcy liquidation to Geely. Lifan also officially stopped production of some of its original models and introduced Geely Technology Group's first new model, Maple Leaf 80V, which uses power exchange technology to replace the whole car's battery in 90 seconds and claims to have a mileage of 500km. Although it is a new car, it is actually based on Geely Jiajie and only changed its logo, and now the data on production and sales of KuaiBao is exactly this model.

It is not difficult to see that thanks to the successful restructuring of Lifan, the current industrial transformation has entered a substantive stage, and Lifan will also rely on Geely Technology Group to accelerate the development of new energy in the future. According to industry analysis, with the state's increasing efforts to support the development of new energy vehicles, Lifan has a great chance of being rescued on the basis of the existing production line with the help of Geely technology.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat