AutoBeta(AutoBeta.net)03/13 Report--

Tao Lin, vice president of Tesla, said on Weibo that Tesla's acquisition of Zhongtai was "naked false news".

According to an online "letter of commitment" cited by Tao Lin on Weibo, "the content of this document is not true, the signature and official seal are also forged and are suspected of committing a crime." This kind of rumor-mongering is a deception to the majority of netizens. Netizens are welcome to prove to us who is the maker of this document? What is the purpose? We will report the case to the public security organs in time. " In this document, the seal of Tesla (Shanghai) Co., Ltd. is stamped as "Zhu Xiaotong", and Zhu Xiaotong is the president of Tesla Greater China.

Prior to this, on March 10, investors questioned * ST Zhongtai. Recently, a commitment signed by Zhejiang Market Supervision and Administration and Zhejiang Zhongtai Automobile Co., Ltd. was circulated on the Internet, not to engage in related business activities without obtaining the approval formalities. The registration office was stamped with the seal of Tesla (China) Co., Ltd., and the signature was Zhu Xiaotong. May I ask Secretary Dong whether this document is true? If it is a false document, please refute the rumor, so as not to mislead investors! In this regard, * ST Zhongtai Secretary Dong responded: "the company has not heard of the signing of the letter of commitment with the Zhejiang Provincial Market Supervision and Administration Bureau."

Zhongtai Automobile was once a leader in China's own brands, with a tape measure to create a sales performance of 333100 vehicles in 2016. However, due to the lack of core technology, broken capital chain, production and operation standstill and many other problems, Zhongtai Automobile and its subsidiaries fell into a debt crisis in 2020, and vehicle production and sales business stagnated. Data show that Zhongtai Automobile has production qualifications for fuel vehicles and new energy vehicles, and has production bases in Zhejiang, Hunan, Hubei, Shandong, Chongqing and Guangxi.

On June 9, 2021, because Zhongtai Motor was unable to pay off its due debts and was obviously insolvent, the court ruled in accordance with the law to accept the reorganization. On October 9, 2021, Zhongtai Automobile restructuring investors were finally identified as Jiangsu Shenzhen Merchants. On October 27, 2021, Zhongtai announced that 2 billion yuan of restructuring funds have been put in place, the funds will be used to pay restructuring costs, pay off debts, and take advantage of industrial synergy to help Zhongtai Automobile restore the national sales network as soon as possible. On December 28, Zhongtai received the Civil order of Jinhua Intermediate people's Court, which confirmed the completion of the implementation of Zhongtai Automobile restructuring Plan.

Previously, Zhongtai mentioned in its new restructuring operation plan that the company will take the policy of "vigorously developing new energy vehicles and smart vehicles" as its guideline: short-term plans to restore and optimize traditional car business, layout of online car-hailing and mini electric car market, etc.; long-term plans to build a brand matrix in the form of acquisitions and joint ventures to lay out the middle and high-end new energy vehicle market. For participating in Zhongtai restructuring, Jiangsu Shenshang said that in order to obtain automobile production qualification, production and sales of complete vehicles.

Data show that Jiangsu Shenzhen Merchants was registered on September 29, 2020, the legal representative is Huang Jihong, and the wholly-owned controlling shareholder is Shenzhen Shenshang holding Group Co., Ltd. (hereinafter referred to as Shenshang Group). In 2019, Huang Jihong led the Shenzhen Merchant Group to lead the restructuring business of the largest automobile dealer group, and became the actual controller of the large group. At present, the per capita chairman and legal representative of Zhongtai Automobile has been changed to Huang Jihong.

It is worth mentioning that during the restructuring, Zhongtai's share price soared, rising 394% in 2021, from the lowest 1.14 yuan to the highest 9.94 yuan. However, after the completion of the restructuring plan, Zhongtai share price experienced a pullback, currently at 3.80 yuan per share, with a total market capitalization of 19.26 billion yuan, which has risen by the daily limit in the past two trading days, or has been affected by the acquisition of Zhongtai by Tesla. According to the forecast of the financial report, the operating income is expected to reach 800 million yuan to 900 million yuan in 2021, the net profit loss of the parent company is 400 million yuan to 600 million yuan, and the loss is reduced by 96.3% Murray 94.45%. Zhongtai Automobile said that if all goes well, the company will apply to the Shenzhen Stock Exchange to revoke the delisting risk warning after the release of the annual report, and the shell is expected.

As for Tesla, at present, the monthly production capacity of Tesla's Shanghai factory is basically maintained at the level of 50, 000 vehicles, so it is difficult to make a breakthrough, while Tesla's demand in the overseas market is getting higher and higher, so there are rumors of building factories and purchasing production lines. Prior to this, on February 12, the official account of Liaoning Publishing, certified as the General Office of the Liaoning Provincial people's Government, promoted an article entitled "five grasps in the Dadong District of Shenyang and striving to be the Vanguard of Revitalization and Development". The article appeared such a sentence: "combined with the urban renewal of civil service areas, open the space for industrial development, and lay the foundation for the landing of major new energy vehicle projects such as Tesla." As it was released by the state media, and the key words such as "Tesla" and "the landing of the new energy vehicle project" were mentioned in the article, many media interpreted it as "Tesla's second factory in China will be located in the Dadong District of Shenyang City." However, according to Sina Science and Technology reports, Tesla China responded that "this is false news", and the relevant source "Liaoning release" has also deleted the article, and the settlement of Tesla's second factory in China has once again become a mystery, but there is no doubt that Tesla has begun to plan to build a second factory in China, and there is no accurate information as to which city it is. However, some netizens believe that although the current Zhongtai Automobile has no technology to speak of, and Tesla's production capacity is far from meeting demand, if Zhongtai factory can be acquired, perhaps the capacity problem can be alleviated.

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