AutoBeta(AutoBeta.net)01/30 Report--

On January 28, Sky Eye check information showed that Guanzhi Automobile Co., Ltd.(hereinafter referred to as "Guanzhi Automobile") added a number of information about the person subject to execution. The enforcement courts included Xianyang City Weicheng District People's Court, Xinchang County People's Court, Suzhou City Intermediate People's Court, etc., with a total of more than 250 million yuan of execution targets.

As a car company founded in 2007, Qoros Auto has been listed as an executor by many courts. Sky eye check information shows that, as of today's issue, Qizhi Automobile's own risk information has exceeded 1300 pieces, the total amount of execution target of the final case is 726 million yuan, the total amount of non-performance is 725 million yuan, and the proportion of non-performance reaches 99.9%; at the same time, Qizhi Automobile has been listed as the person subject to execution by Changshu, Suzhou, Xianyang, Xinchang, Shanghai and other people's courts, with a cumulative execution amount of more than 400 million yuan.

The development of Guanzhi Automobile is not smooth as early as 2021. At that time, Baoneng Automobile and its Qunzhi Automobile were exposed to salary arrears, suspension of social security and provident fund, etc., and salary arrears were only the tip of the iceberg. Especially after entering 2022, the negative news of Guanzhi Automobile is continuous.

In April 2022, the Development and Reform Commission of Yunnan Province announced that the construction of "Kunming Baoneng New Energy Automobile Parts Production Project" and "Construction Project of Guanzhi Automobile Co., Ltd.(Kunming) Branch" had not been started for 2 years overdue, and the explanation had not been made through the online approval and supervision platform of investment projects in Yunnan Province, nor had the filing information been withdrawn, and no corresponding treatment was made after reminding. According to relevant regulations, these two projects were removed from the project filing information on the online approval and supervision platform for investment projects in Yunnan Province, and their investment filing documents became invalid.

"On May 7,2022, Shandong Province Automobile Circulation Association announced that the headquarters of Guanzhi had been empty. In order to safeguard the rights and interests of consumers, Guanzhi Automobile was put into the" blacklist."" Shandong Province Automobile Circulation Association said that it received a number of complaints from Jinan City that there was no 4S shop maintenance after sales. After investigation, the direct sales stores of 4 Jiabao Neng Guanzhi Automobile in Jinan City had been closed and closed, and the factory service telephone number had been cancelled. Meanwhile, an inquiry letter was sent to the headquarters of Baoneng Group to which Guanzhi brand belongs, but the letter was returned due to "empty buildings." After investigation by the association, it was found that there were serious business problems in Baoneng Automobile, so Baoneng Guanzhi Automobile brand was listed in the consumption blacklist, and consumption warning was issued to consumers in the whole province: carefully purchase Baoneng Guanzhi brand automobile.

On July 29,2022, Jiangsu Changshu City Human Resources and Social Security Bureau announced through official Weixin Official Accounts: "After investigation, Guanzhi Automobile Co., Ltd. owes 751 workers wages of RMB 10,001,800 Yuan, and refuses to correct after being ordered to correct, and is transferred to the public security organ for handling according to law according to the crime of suspected refusal to pay labor remuneration."

In November 2022, the Execution Decision of Changshu City People's Court of Jiangsu Province showed that the People's Court of Changshu City issued an inquiry notice to financial institutions, network 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. After analyzing the property inquiry feedback, it was found that the deposit under the name of Guanzhi Automobile was only 2651.30 yuan.

In December 2022, the People's Court of Wuhu Economic and Technological Development Zone of Anhui Province issued an auction announcement with the object of automobile production line equipment of Guanzhi Automobile Co., Ltd., with the starting price of about 123 million yuan. At that time, many people in the industry believed that the automobile production lines of Guanzhi were auctioned by the court and were not far from complete bankruptcy. Since then, a large number of new cars appeared on the judicial auction platform waiting for auction, including seized cars from Shandong, Zhejiang, Hubei, Henan, Chongqing and other regions.

Qoros was founded in 2007. Although its reputation is not outstanding, its origin is not ordinary. Qoros Automobile is jointly invested and established by Chery Automobile Co., Ltd. and Israel Group. Both parties hold 55% and 45% equity respectively. In 2009, the shareholding ratio was adjusted to 50:50. In 2011, the joint venture company officially changed its name to Qoros Automobile.

"Automobile Industry Concern" found in the previous in-depth report on the development process of Qoros Automobile that Qoros Automobile is an independent brand with early positioning of high-end in China. As early as 2013, the first mass production model "Qoros 3 sedan" was released in China, and mass production was launched in 2014. Qoros 3 is positioned in compact sedan market. The official said that Qoros brand will compete with mainstream joint venture brands such as Volkswagen and Toyota. Since then, during the period from 2014 to 2016, Qoros Automobile has also launched 4 models in total, including Qoros 3 Five-door Edition, Qoros 3 Urban SUV, Qoros 5 SUV and Qoros 3 GT, among which Qoros 3 Five-door Edition was launched at the end of June 2014; Qoros 3 Urban SUV was launched in December 2014, Qoros 5 SUV, the first medium-sized SUV model, was launched on March 2,2016, and Qoros 3 GT was launched in November 2016. Although there are many products and the speed of renewal is not slow, the development of Qoros in China is not smooth during Chery's control of Qoros. According to the data, during the three years from 2014 to 2016, the accumulated sales volume of Qoros was less than 22,000 vehicles, and the continuous depressed sales volume also caused Qoros to lose money year after year. From 2014 to 2016, Qoros lost 2.2 billion yuan, 2.5 billion yuan and 1.9 billion yuan respectively, and the accumulated loss reached 6.6 billion yuan. In this context, Qoros Auto was transferred to Baoneng Group in December 2017.

At the Qoros Auto Dealer Conference in March 2018, Yao Zhenhua, Chairman of Baoneng Group, declared 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. With the heavy investment of Baoneng Group, the sales volume of Qoros cars has improved significantly. The data shows that in 2018, the sales volume of Qoros cars increased by 320% year-on-year to 63,000 vehicles, but the year-on-year growth of 320% was based on the mode of "self-production and self-sale". Most of the Qoros cars were sold directly to the car rental companies owned by Baoneng in this year. Although the sales data increased significantly year-on-year, in fact, the self-standard did not cure the problem. After a short period of scenery, the sales volume of Qoros quickly fell into a cliff-like decline, and Baoneng Group's original promise to Qoros failed to reverse the Qoros car dilemma, with sales of only 22,700 vehicles in 2019 and almost halved in 2020, leaving only 13,100 vehicles.

By 2021, under the influence of many factors such as internal employee turnover, external suppliers and dealers 'rights protection, sales failure, etc., the annual sales volume of Qoros Automobile is only 5200 vehicles, among which the sales volume in July 2021 is 0 vehicles, and the sales volume in the fourth quarter is less than 100 vehicles.

At the beginning of 2022, Baoneng Automobile released two new cars, the first high-end intelligent pure electric SUV GX16 under the brand "BAO" and Qoros 6 (code C21) from Qoros Automobile, in an attempt to get out of the predicament. In May of the same year, it was revealed that Baoneng planned to mass-produce the GX16 model within the year, and since then there has been no news about the new car on the market. Under the negative circumstances, the accumulated sales volume of Qoros in 2022 was only 720 vehicles, down 84.76% year-on-year. Now Qoros is on the edge of life and death, and there is obviously not much time left for Qoros.

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