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Auto Industry concern learned from Ali's auction website that the people's Court of Anhui Wuhu Economic and technological Development Zone issued an auction notice for the automobile production line equipment of Guanz Automobile Co., Ltd. (hereinafter referred to as "Guanzhi Automobile"). The starting price is about 123 million yuan, but the auction announcement does not disclose the cause of the case and the person applying for enforcement, which is more likely to be the result of a creditor applying to the court for enforcement.

As an once high-end car brand, Qoros not only lost its original intention, but also its life could be "terminated" at any time. In December 2007, Chery and the Israeli group jointly funded the establishment of Chery Quantum Automobile Co., Ltd., which was initially 55% owned by Chery and 45% owned by the Israeli group, but was later adjusted to 50% each after negotiations in 2009.

In November 2011, Chery Quantum Automobile Co., Ltd. changed its name to Guanzhi Automobile Co., Ltd., and released the car brand "Quan Zhi Automobile". In November 2013, Qoros made its debut at the 11th Guangzhou International Auto Show and launched its first mass production model, the Guanzhi 3, which was developed by Mr. he Goth, the former design director of BMW MINI, who led the design team in Shanghai and Munich, Germany. At that time, Guanzhi 3 won recognition in the industry for its excellent design, quality and safety, and won various awards. However, Guanzhi 3 was not popular, with only 6967 sold in 2014 and 14247 in 2015.

In March 2016, Guanzhi Automobile launched its second production car, the Guanzhi 5, with a price of 13.99 yuan to 194900 yuan and a positioning of the compact SUV. According to the data, Qoros sold a total of 24188 vehicles in 2016, including 10878 for Guanzhi 5 and 13310 for Guanzhi 3. It is worth mentioning that since Guanzhi automobile mass production went public, it has lost 2.2 billion yuan, 2.5 billion yuan and 1.9 billion yuan respectively from 2014 to 2016, with a cumulative loss of 6.6 billion yuan over three years.

In 2017, Chery transferred its stake in Qoros, and Baoneng became the catcher. Although Guanzhi has lost money for years, it is still favored by Yao Zhenhua. Baoneng Group became the largest shareholder when it bought a 51% stake in Guanzhi Automobile for 6.63 billion yuan in 2017. Yao Zhenhua also poached three former BAIC executives in order to boost the development of Baoneng's auto business. At that time, Baoneng Group used its linked cloud car rental platform to help Qoros boost sales and open the offline store model. At that time, Yao Zhenhua, chairman of Baoneng Group, was full of confidence and planned to invest 10 billion yuan in new car research and development each year for five consecutive years starting from 2018, with 26 new models expected to be launched by 2022.

Indeed, Baoneng Group's acquisition of Qoros has indeed led to a big increase in sales. Data show that Qoros sold 62082 vehicles in 2018, up 315% from a year earlier. However, as mentioned earlier, the surge in Qoros sales is mainly due to its linked cloud car rental platform, which actually accounts for a very small share of the personal consumer market. Since then, Quan Chi car sales have declined year after year, with sales of 22925 vehicles, 13093 vehicles and 4883 vehicles respectively from 2019 to 2021. At present, Quan Zhi Automobile has no data output.

Starting from 2021, Guanzhi Motor began to have internal staff loss, external suppliers and dealers to protect the rights and other problems, the current operating situation is particularly difficult. According to the China referee Writing Network, the people's courts of nine provinces and cities, including Beijing, Shanghai, Hebei, Zhejiang, and Jiangsu, have issued a total of 185 rulings on Guanzhi Automobile, of which 64 were in 2022, of which 52 were based on enforcement. According to the inquiry, in the past few years, the above-mentioned people's courts have come to the conclusion that Guanzhi has no immediate enforceable property through financial institutions, on-the-spot investigation and other means to inquire about the clues of Guanzhi automobile property information.

For example, "Jiangsu Ruiyan physical and Chemical Automobile Accessories Co., Ltd., Guanzhi Automobile Co., Ltd., the first execution order on the sale contract dispute" issued on November 7 shows that the people's Court of Changshu City, Jiangsu Province issued an execution notice, property report order, property declaration form and other legal documents to Guanzhi Automobile, and summoned it to the court for investigation and inquiry, ordered it to declare property and immediately fulfill the obligations determined by the effective legal documents. But Qoros failed to perform.

According to the judgment, from August 2022 to September 2022, the people's Court of Changshu City, Jiangsu Province, issued an inquiry notice to financial institutions, online payment institutions, insurance institutions, securities institutions, real estate registration departments, vehicle registration departments and market supervision departments through the network execution inspection and control system. Upon investigation, it was found that the person subject to execution had a deposit of 2651.30 yuan in the name of Guanzhi Automobile Co., Ltd., and there was no other deposit available for execution. The person subject to execution owns about 20 real estate in Changshu, but these real estate not only have a large mortgage, but also have been seized dozens of times. At present, creditors of financial institutions have filed for bankruptcy, and the relevant courts are still under review. The license plate number registered in the name of the person subject to execution is 33, and the above-mentioned vehicles have been seized dozens of times. In addition, the people's Court of Changshu City, Jiangsu Province conducted an on-the-spot investigation on the business premises of the person subject to execution and found that the person subject to execution had gone out of business and his machinery and equipment had been seized.

On April 6, the Yunnan Provincial Development and Reform Commission issued a notice on the removal of project record information and investment certification documents for the "Kunming Baoneng New Energy Automobile parts production Project" and "Construction Project of Guanzhi Automobile Co., Ltd. (Kunming) Branch". The Yunnan Provincial Development and Reform Commission said that since the two projects were filed in 2018, the project units did not start construction for two years overdue, failed to explain through the Yunnan investment project online examination and approval supervision platform, and did not withdraw the filing information. after reminding, no corresponding treatment has been made.

On May 7, the Shandong Automobile Circulation Association issued a document that put Baoneng Guanzhi brand cars on the consumer blacklist and issued a consumer warning to consumers because the association received a number of complaints about after-sale maintenance of 4S stores in Jinan. At the same time, the inquiry letter mailed to the headquarters of Baoneng Group was also returned.

According to the Tianyan investigation, at present, there are more than 999 pieces of risk information about Qoros, and the legal action amount of the defendant / appellee is 494 million yuan; the consumption restriction order is 186times; the total amount of the subject matter of the final case is 543 million yuan, of which the outstanding amount is 542 million yuan. In addition, Guanzhi Motor is listed as the executee by the people's courts of Suzhou, Changshu, Xianyang, Zengcheng District of Guangzhou, Huangpu District of Shanghai, Luohu District of Shenzhen, Longquanyi District of Chengdu and so on.

It is worth mentioning that life is also difficult for Baoneng Group, a major shareholder of Guanzhi Automobile. Baoneng has been in a liquidity crisis since the beginning of last year. Facing difficulties such as overdue redemption of financial products and debt default, Baoneng has to withdraw funds continuously by reducing its equity holdings of listed companies, pledged shares and disposing of assets.

Heavenly eye examination showed that Baoneng Group was listed as the person subject to execution for 67 times, with a total amount of 34 billion yuan. Since September 2021, the five major companies of Baoneng, namely, Jusheng China, Baoneng Holdings, Baoneng Real Estate, Baoneng Group and Baoneng Automobile, have been executed by the court more than 180 times. Baoneng's shares of listed companies such as Zhongju Hi-tech, Shaoneng shares and Nanning Department Store have been judicially frozen or waiting to be frozen.

Like Xu Jiayin, he is determined to build cars even in the face of a huge debt crisis. On January 22nd, Baoneng unveiled two new cars at the new car product appraisal conference, one is the GX5 (code name GX16) from the new luxury smart new energy vehicle brand "BAO", and the other is the Guanzhi 6 (code C21) from Qoros. However, the new brand has been released for nearly a year, but there is no news of mass production.

Yao Zhenhua said at a symposium held in September 2021 that Baoneng has invested more than 50 billion yuan since it entered the automobile industry in 2016. the company will strive to build a global first-class new energy automobile enterprise group with strong competitiveness and international influence in 10-15 years. Looking back, once the ideal was plump, the reality was bony. How long can Quan Zhi go and how long can Baoneng go?

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