AutoBeta(AutoBeta.net)11/09 Report--

On November 8, according to Tianyan App, Guanzhi Automobile Co., Ltd. added information about the person subject to execution, case number (2021) Su 0581 holds 6518, the object of execution is 1013672 yuan, and the execution court, Changshu City people's Court. It is worth noting that on November 2, the new equity of Qoros was frozen, the person being executed was Qoros Automobile Co., Ltd., and the subject enterprise of freezing equity was Qoros Automobile sales Co., Ltd., and the amount of frozen rights and interests was 3 million yuan. The freeze period is from October 29th, 2021 to October 28th, 2023.

According to relevant statistics, Guanzhi Motor has been enforced 26 times since August 2021, with a total amount of more than 520 million yuan.

It is understood that Guanzhi Automobile was established in December 2007. the legal representative is he Hua, with a registered capital of about 16.925 billion yuan. In 2013, Quan Zhi Motors officially unveiled in China, and brought the first car Quan Zhi 3, the official said that the Quan Zhi brand will target Volkswagen, Toyota and other mainstream joint venture brands. However, during the period when Chery took control of Qoros, its development was not smooth, sales remained low, performance continued to lose money, and members of the original management team left one after another. According to the financial data released by Qoros, it lost 2.2 billion yuan in 2014, 2.5 billion yuan in 2015 and 1.9 billion yuan in 2016.

In December 2017, Baoneng Group strategic investment Guanzhi Automobile became a major shareholder, forming a tripartite shareholder holding of Baoneng, Chery Automobile and Quantum. Baoneng Group bought a 51% stake in Guanzhi Motor in 2018, becoming the controlling shareholder of Guanzhi Automobile. After the acquisition of Qoros, Baoneng Group has high hopes for Qoros. Yao Zhenhua, chairman of Baoneng Group, announced at the Qoros Automobile Dealers Conference in 2018 that for five consecutive years starting from 2018, 10 billion yuan will be invested in new car research and development every year, and 26 new models are expected to be launched by 2022.

During Baoneng's takeover of Qoros, Quan's sales increased from 15000 in 2017 to 63000 in 2018, an increase of 320% over the same period last year, but most of the new cars were "produced and sold by themselves" through Baoneng's affiliated companies. there are very few sales in the actual consumer market. Quan Chi's cumulative sales fell 64% in 2019, selling only 21900 vehicles, and another 33.26% to 14600 in 2020.

As early as August, there were media reports that production at Qoros's Changshu plant had been suspended and some employees had been transferred to Chery Holdings to assist in production. For a company that has been established for more than a decade, the development road of Quan Zhi Automobile in China is full of twists and turns.

Quan Jie itself is in trouble, and Dajin's main Bao Neng Automobile Group has recently been exposed to be shut down due to financial problems, and has begun to significantly reduce the number of offline stores. Under the influence of many factors, such as internal staff turnover, protection of rights of external suppliers and dealers, sales failure and many other factors, it can be said that Guanzhi is in a dangerous situation. According to the relevant data, in September 2021, the Guanzhi brand sold 141 vehicles, of which the Guanzhi 7 sold 139. From its sales data, it is not difficult to see that the production of Qoros is almost at a standstill.

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