AutoBeta(AutoBeta.net)08/16 Report--

August 16, in response to the news that Geely Holdings may participate in Zhongtai Automobile restructuring, Geely Holdings said that "Geely Holdings did not participate in Zhongtai restructuring."

Some media previously reported that one of the investors who signed up for * ST Zhongtai restructuring was a company called Hunan Zhibo Smart car Equity Investment Partnership (hereinafter referred to as "Hunan Zhibo"), which was established in August 2021. Its shareholder is Hunan Zhibo Equity Investment Fund Management Co., Ltd., which previously participated in and terminated the restructuring of * ST Zhongtai (hereinafter referred to as "Zhibo Investment").

In January this year, * ST Zhongtai disclosed information about pre-restructuring investors, and Shanghai Zhiyang Investment Co., Ltd. and Zhibo Investment Co., Ltd. appeared one after another. On May 12, Zhongtai Automobile announced that the company's pre-restructuring manager, Shanghai Zhiyang Investment Co., Ltd. (hereinafter referred to as "Shanghai Zhiyang"), decided to suspend its investment in Zhongtai Motors. On June 25, Zhongtai Motor announced that the company had received a reply from Hunan Zhibo Equity Investment Fund Management Co., Ltd., in accordance with the relevant agreement of the confidentiality Agreement signed by Zhibo Investment and * ST Zhongtai in December 2020, Zhibo Investment decided to stop investing in * ST Zhongtai. At this point, the suspension of the two intended investors of Zhongtai Automobile means that the bankruptcy restructuring plan of Zhongtai Automobile has come to a standstill again.

However, less than two months later, Zhibo Investment Hunan Zhibo was officially established and once again participated in the restructuring of * ST Zhongtai. According to Tianyan investigation, Hunan Zhibo Investment and Hubei Topps Intelligent equipment Co., Ltd. (hereinafter referred to as "Hubei Topps") hold 0.004% and 99.996% shares respectively, while Hu Bianjiang, a behind-the-scenes shareholder of Hubei Topps, holds nearly 38% of Hubei Zhibo.

Data show that Hu Bian was the legal representative of Xiangtan Branch of Zhejiang Geely Mei-Japan Automobile Co., Ltd., and served as an executive in Xiangtan Branch of Zhejiang Geely Automobile Co., Ltd., but at present, both companies have been cancelled. In addition, Hu Bian also served as vice president of Cheetah Automobile. On May 28 this year, at the Hunan Private economy United Front work Conference and the High-quality Development Conference of the Private economy, Hu Bianjiang also won the award as the general manager of Hunan Geely Automobile Industry Co., Ltd. (hereinafter referred to as "Hunan Geely Automobile"). The shareholder of Hunan Geely Automobile is Li Shufu, chairman of Zhejiang Geely holding Group.

Based on this, some media analysts believe that Geely Holdings or participate in * ST Zhongtai restructuring. August 16, in response to the news that Geely Holdings may participate in Zhongtai Automobile restructuring, Geely Holdings said that "Geely Holdings did not participate in Zhongtai restructuring."

Prior to this, there were media reports that Weimar might participate in * ST Zhongtai restructuring, but it was also denied by Weimar. It is reported that Shanghai Titanium Kai Automotive Technology Partnership (Limited Partnership), one of the investors in ST, was established on January 29, 2021. Shanghai Dezhao Automotive Technology Co., Ltd. (hereinafter referred to as "Dezhao Automobile") and Yancheng Junya Industrial Co., Ltd. are 75% and 25%, respectively. Du Ligang, the legal representative of Dezhao Automobile, is the co-founder and CFO of Weima Automobile. In this regard, there is media speculation that Weima Motor or participate in Zhongtai restructuring, in order to obtain A-share shell resources. However, in response to the market on the "Weima will participate in Zhongtai restructuring" matter, Weima Motor is a clear response, "this is false news, Weima Automobile does not have any interest in participating in Zhongtai restructuring."

Geely, Weimar both denied to take the offer, * ST Zhongtai restructuring behind the white guard into doubt. In the view of industry insiders, in the automobile market where car-building technology is rapidly updated and new forces are rising frequently, the value of bankruptcy restructuring of car companies like Zhongtai, which has been defeated in the era of traditional fuel cars, is negligible. Of course, as a listed company, perhaps for many new car-building brands, perhaps the most precious is the A-share shell resources!

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