AutoBeta(AutoBeta.net)12/26 Report--

According to Tianyan investigation, Anji Zhihang Logistics Co., Ltd. and Weima New Energy Automobile sales (Shanghai) Co., Ltd., Weima Automotive Technology Group Co., Ltd., non-litigation security review decision public. According to the documents, the applicant Anji Zhixing Logistics Company requested the court to seal up and freeze the assets of the two companies worth 76.52 million yuan. The court held that the application of Anji Zhixing Logistics Company was in line with the provisions of the law and ruled to enforce it.

Shen Hui, chairman of Weimar, issued an internal letter on November 21, saying that in response to financial pressure, the company's management took the lead in taking the initiative to cut salary by half, while the company will adopt a series of financial measures to reduce operating costs. These include managers at the level of M4 and above who take the initiative to cut their salaries and pay 50% of the basic salary; other employees pay 70% of the basic salary; adjust the payday of the company, abolish bonuses such as year-end bonuses, and suspend car subsidies.

In fact, it has only been two years since I was a top student in car building to the need to overcome difficulties with employees. Weimar, which was founded in 2015, is basically at the same pace as the R & D, production and delivery of Weimar and Xiaopeng, but Weima has a better foundation than any new power. For example, founder Shen Hui has rich automobile industry experience. He was a director and vice president of Geely holding Group, senior vice president of Volvo Automotive and chairman of China. More importantly, Weima is the first new power brand with independent production capacity. It has two major production bases in Wenzhou and Huanggang, and more than 600 offline distribution stores, distributed in 211 cities across the country.

From many dimensions, Weima seems to be more solid and has more development opportunities than the Internet car manufacturers in the same period, but its actual performance in the market is unflattering. Instead of becoming a Volkswagen in the electric car market, Weima has slipped from the first echelon position to the now precarious market situation.

On November 25, the media visited Weimar's Shanghai headquarters, and the headquarters building was particularly quiet, with only a very small number of employees in and out. Recently, Weima employees began to work from home and will not return to work until December 5, but everything is normal in other office buildings in the park, and some employees take a walk and rest in the park after lunch, according to staff. It is understood that Weimar has set up a large user center on the first floor of the headquarters, but it has been suspended and unattended appears to be very empty. Only more than 10 certificates of honor of the past are still hanging on the wall. It is worth pointing out. The red carpet leading to the interior of the building has been covered with stains and dead leaves can be seen everywhere in the lobby.

On the right side of the first floor of the building, there is also a Weima W6 and a Weimar M7. It is understood that the Weima W6 went on sale on April 16, 2021, and only one vehicle was delivered in November, while the Weima M7 is considered to be an important model to achieve a turnaround, and it is expected to be delivered in the second half of the year, but it is trapped by the pressure of the capital chain, and there is no news of listing so far.

In April 2018, Weima's first mass-produced SUV-- Weima EX5 was officially listed with a subsidised price range of 11.23-149800 yuan. In 2019, Weima sold 16900 vehicles for the whole year, second only to NIO in the ranking of new power. At that time, Shen Hui was in high spirits and made a bet on Weibo with Wang Xing, founder of Meituan, that Weima would become one of the Top3 to create new forces.

In 2020, Weima has an annual sales of 22500 vehicles, ranking fourth in the new force of car building. In 2021, Weimar ranked fifth with sales of 44200 vehicles, while Wei Xiaoli all sold more than 90, 000 vehicles, and even the latest Nashi cars were 25000 more than Weimar. After entering 2022, Weimar will no longer announce the number of deliveries, while the Federation of passengers will disclose data showing that the cumulative sales of Weima from January to October in 2022 was 29284 vehicles, ranking at the bottom of the new power brand. It is clear that Weimar has completely lagged behind in terms of sales, and the business situation is deteriorating.

Apart from the fact that the market performance is not as good as expected, Weimar's financial crisis is the real crisis. According to the prospectus, Weimar lost 13.632 billion yuan from 2019 to 2021. By the end of June 2022, Weimar had only 4.156 billion yuan in cash flow on its books, and the model of "rushing sales with losses" was invalid. coupled with the delayed listing, Shen Hui began to shrink strategically, cutting staff and salaries internally and reducing delivery externally.

Now Weimar either goes public or closes down. It is understood that at present, the prospectus for listing of Weima Hong Kong shares has expired. If you want to continue to apply for listing, you need to update financial data and other information that needs to be disclosed within three months. At present, Weima is trying for a long time, and Chuanweima is negotiating with Lishi to acquire Weima through Apollo Wisdom, which is listed in Hong Kong, so that Weima can be listed through backdoor listing. This may be one of the few ways for Weima to save itself at the moment.

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