AutoBeta(AutoBeta.net)02/17 Report--

The whole staff is facing rumors of suspension of pay and staying on duty, which once again puts the shaky Weima station at the forefront of the waves.

According to related reports, in order to reduce expenses, Weimar will launch a new round of pay reduction plan and internal notice that all staff will be suspended from work. According to the report, Weimar will pay 25% of its employees as soon as March, while the 25% salary will be based on the 30% discount last year. It should be noted that not all employees are paid 25%, and the pay cut does not cover the level above the general manager. In addition, departments will cut 75% of their employees (the so-called no pay, no compensation), and the rest will be paid at the current 70%.

To make a simple calculation, with a monthly salary of 10000 yuan, the salary paid after a 30% discount is 7000 yuan, while the salary paid according to 25% is actually only 1725 yuan. In response to the relevant reports, Weimar said: we have not received this news yet, so it is not convenient to respond. However, at present, the relevant plan has been spread internally, causing strong dissatisfaction among employees.

It is reported that Weimar has suspended the payment of social security provident fund and wages for employees, and what makes employees even more angry is that there is money in the company's account that can be used to pay employees' wages, but the money is now used for production. Weimar spends all its money on production because of problems with its previous sales in the prospectus, according to people familiar with the matter.

According to the prospectus, Weima sold 78888 vehicles from 2019 to 2021, but the actual risk was only 69591, a difference of 8937. A person familiar with the matter said that due to the situation that the quantity does not match and the accounts are incorrect, Weimar needs to solve this problem to complete the listing audit, so it misappropriates the funds to production. However, what puzzles the employees is that at present, the factory has stopped production and all the stores have been closed. How to produce and how to sell the vehicles produced?.

"live, live like an animal." Shen Hui, founder, chairman and CEO of Weima Automobile, uploaded this clip from "Furong Town" to Weibo on January 12. Yes, as long as you live, there is hope. The key is how to live.

In November 2022, Weimar announced a pay cut for all staff. Since then, a large number of Weima internal staff loss, as of February 15, Weima employees only about 1900 people. In addition to being unable to pay wages, due to arrears of payments to suppliers, the Wenzhou factory stopped production as early as the end of last year, there was no security guard at the factory gates, and several Weima cars in the parking lot have also become frozen assets. Even, Weimar can no longer afford the cost of App maintenance and iteration, so Weimar App can no longer carry out vehicle control. However, according to the internal response, Weimar APP can not be used is not no money to renew, but was hacked, has been repaired.

Weimar is also paralyzed at the sales and service terminals. The reporter called all the 4S stores in the Beijing sales channel of Weima's official website, most of the stores showed empty numbers, individual phones were busy, and some of them had become official phones of other brands. Online channels, Mini Program Weima car purchase has long been unable to open, each time ended in failure.

A few days ago, the media visited Weima Automobile headquarters in Qingpu District, Shanghai. at present, the Weima Automobile headquarters office building is still open for operation, but the main door of the building is closed, the front desk is empty, and employees fill the side door in and out. An insider told reporters that the company was almost paralyzed and that few people went to the office because there was no work to move forward. However, according to related reports, Weima headquarters building has been seriously in arrears of property fees and rent, resulting in Weima headquarters building may be moved out in the near future. In addition, employees in Weimar Beijing have also stayed at home because the Beijing office owes more than 1 million yuan in rent and has been cut off from water and electricity since September last year, so employees can only open their own hot spots.

All stores are closed, factories stop production, employees pay social security for arrears of wages, customer service calls go unanswered, and compensation for departing employees is not cashed. At present, Weima is facing a huge crisis in the three main operational links of production, sales and after-sales service. the symptoms are the same as those enterprises that declared delisting and bankruptcy a few years ago, and they do not know how long they will live.

According to the prospectus, Weima's revenue from 2019 to 2021 was 1.7621 billion yuan, 2.6717 billion yuan and 4.7425 billion yuan respectively, with net losses of 4.145 billion yuan, 5.084 billion yuan and 8.206 billion yuan respectively, with a cumulative loss of 17.435 billion yuan over three years. By the end of 2021, Weimar's asset-liability ratio was as high as 202.36%, making it seriously insolvent. As of March 31, 2022, the remaining cash and cash equivalents on the books of Weima Motor is 3.678 billion yuan.

As one of the earliest new forces in China, Weimar had unlimited scenery, and was once in the first echelon of car-building new forces, as famous as NIO, ideal and Xiaopeng. In 2019, Shen Hui, chairman of Weima, bet with Meituan and Wang Xingli on Weibo, saying bluntly that "Weima will certainly become one of the TOP3". Today, the complete collapse of the middle and lower reaches of Weimar has not only failed to become one of the TOP3, but also become difficult to survive, while reverse takeover listing is the only chance for Weimar to achieve a reverse, which is related to the life and death of Weimar, but it is not easy. Weimar still has many problems to solve before listing. At present, Weimar can only tighten its belts, pray for its employees to "live and die together" and then "live like animals".

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat