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All the information shows that Qoros, which was once positioned at the high end, is now on the edge of a cliff.

According to time Weekly, Guanzhi Automobile Co., Ltd., which is located in Changshu Economic and technological Development Zone, is now the production base of Guanzhi Automobile, but now it is bleak in front of the door, with only two outsourced security guards on duty in the security room.

According to the security guard on duty, only white-collar workers go to work and all blue-collar workers stay at home. The security guard on duty said that the factory area was empty and production was stopped. These white-collar workers go to work at 8 o'clock in the morning and get off work at 5 o'clock in the afternoon. Their salaries have been owed for more than four months, and their social security has long been cut off. There is no way, the company did not seriously declare bankruptcy completely, these people must come every day.

On both sides of the company, the area originally used for parking production vehicles is now empty and barren, the surrounding fence is also overgrown with weeds, and there is no vitality and vitality in the factory area.

The security guard on duty told reporters that this is the production base of Qoros, and there is still a research and development part in Shanghai, but it has also been evacuated. According to Tianyan investigation, Guanzhi Automobile R & D (Shanghai) Co., Ltd. is a subsidiary of Guanzhi Automobile. Its registered address is Room 903-3, 9 / F, 1220 Tongpu Road, Putuo District, Shanghai. After practical investigation, it has already become the office area of other companies.

Not only the company but also the point of sale were evacuated. On March 15, a reporter from time Weekly came to the Qoros sales point shown by Amap at Building C, Building 6785 Zhongchun Road, Minhang District, Shanghai, and found that it had been changed to a Volvo store. According to the official tweet of Quan Zhi Automobile on March 20, the total number of service outlets of Quan Zhi Automobile in China has increased to 256, covering 32 provincial administrative regions and 171 cities across the country. However, according to the query of Guanzhi Automobile official website, Jiangsu, Zhejiang, Shanghai, Anhui and other places do not show the relevant points of sale.

It starts with Chery and ends with Baoneng!

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, Guanzhi Motor made its debut at the 11th Guangzhou International Auto Show, and launched its first mass production model, the Guanzhi 3. At that time, Guanzhi 3 won recognition in the industry for its excellent design, quality and safety, and scored the highest score in the European New car crash Test (E-NCAP), becoming the first Chinese model to receive an Euro NCAP five-star rating and the first Chinese brand to win the Red Dot Design Award. Unfortunately, the market performance of Guanzhi 3 is very dismal, with only 6967 vehicles sold in 2014 and 14247 in 2015.

In 2016, Guanzhi launched its second production car, the Guanzhi 5, with a price of 13.99 yuan to 194900 yuan, but the market performance was also poor. According to the data, Qoros sold a total of 24188 vehicles in 2016, including 10878 for Guanzhi 5 and 13310 for Guanzhi 3.

The sales crisis is directly reflected in the financial results. From 2014 to 2016, the annual losses of Quan Zhi Automobile were 2.2 billion yuan, 2.5 billion yuan and 1.9 billion yuan respectively, with a cumulative loss of 6.6 billion yuan. In 2017, Chery transferred its stake in Qoros, and Baoneng became the pick-up, with the latter becoming the largest shareholder with a 51 per cent stake in Qoros for 6.63 billion yuan.

According to public information, Baoneng Group has five sectors: comprehensive property development, finance, modern logistics, cultural tourism, and people's livelihood industries. Yao Zhenhua officially announced the cross-border car building and the establishment of Baoneng Automobile Group in 2017. Guanzhi Automobile can be said to be the starting point of Baoneng car building, but also a crucial link. In order to promote the development of Baoneng automobile business, Yao Zhenhua also poached three former BAIC executives. 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.

However, after joining Baoneng Group, the situation of Quan Zhi Automobile has not been improved. In the early stage, it mainly relies on the linkage cloud car rental platform to achieve sales growth, but its performance in the end market is indescribable. 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 inquiry, in the past few years, when the relevant people's courts inquired about the clues of Guanzhi automobile property information through financial institutions and on-the-spot investigation, almost all of them concluded that Quan Zhi Automobile had no property that could be executed immediately.

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, the order on the first execution of contract disputes contracted by Fuyao Group (Shanghai) Automobile Glass Co., Ltd. and Guanzhi Automobile Co., Ltd., issued on March 27, shows that the people's Court of Changshu City of Jiangsu Province issued an execution notice, a property report order, a property declaration form and other legal documents to Guanzhi Automobile, and summoned it to the court for investigation and inquiry, ordering it to declare property and immediately perform the obligations stipulated in the effective legal documents. But Qoros failed to perform.

According to the judgment, the people's Court of Changshu City, Jiangsu Province has accepted dozens of enforcement cases involving Guanzhi Automobile Co., Ltd. as the person subject to execution, and the account under the name of the person subject to execution has been seized dozens of times. At present, there is no deposit available for enforcement. The person subject to execution owns real estate in Changshu, but the real estate not only has a large mortgage, but also has been seized for dozens of times. at present, creditors of financial institutions have filed for bankruptcy, and the relevant courts are still under review and should not be disposed of. The license plates registered in the name of the person subject to execution are 33, and the above-mentioned vehicles have been seized for dozens of times, and the vehicle management department is unable to seize them again for technical reasons. As the above-mentioned vehicle is not actually seized, it cannot be disposed of for the time being. 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.

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 505 million yuan; the consumption restriction order has been issued for 199times; the total amount of the subject matter executed in the final case is 220 million yuan, of which the outstanding amount is 220 million yuan. In addition, Guanzhi Motor was listed as a person subject to execution and breach of trust 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, with a total execution of 998 million yuan.

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.

Market competition is cruel, no brand is eternal, in the long river of market economy, there are many brands have unlimited scenery, and then sunset, and finally disappear. Now that Bowo has been ruled bankrupt, it is really regrettable that Guanzhi has been shut down. In the future, it will be very difficult for Qoros owners to repair their cars.

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