AutoBeta(AutoBeta.net)04/22 Report--

"Automotive Industry concern" learned from the Heavenly Eye that on April 20 and 21, Guanzhi Automobile Co., Ltd. added a new piece of information about the person subject to execution. Among them, three new pieces of information about the person subject to execution are added on April 20, the total amount of the object of execution is 25.1311 million yuan, and the execution court is the Changshu Municipal people's Court; on April 21, there is a new piece of information about the person subject to execution, and the object of execution is 10.4915 million yuan. The execution court is the people's Court of Weicheng District, Xianyang City.

It should be noted that since 2023, the information of the person subject to execution of Guanzhi Automobile Co., Ltd. has been increasing. Among them, from April 1 to 21, 17 new information of the person subject to execution has been added to the Guanzhi Automobile Co., Ltd. the enforcement courts include the Changshu City people's Court, the Shanghai Minhang District people's Court, the Nanjing Qixia District people's Court, the Tianjin Jinnan District people's Court and the Xianyang Weicheng District people's Court. As of press time, the information of the person subject to execution of Guanzhi Automobile Co., Ltd. was 72, and the total amount of execution was 1.048257969 billion yuan.

In addition, risk information shows that the company also has a number of court announcements, people who break their promises, consumption restriction orders and final case information, with a total outstanding amount of more than 200 million yuan. Specifically, the company has 88 court announcements, 12 hearings from April 1 to 20, 256 legal proceedings with a total amount of 522.4547462 million yuan, 12.255064 million yuan for plaintiff / appellant and 510.1996822 million yuan for defendant / appellee; 201 consumption restriction orders In 37 final cases, the total amount of the subject matter of execution was 233.850167 million yuan, the total amount of non-performance was 233.858268 million yuan, the proportion of non-performance was 100%; there were 12 cases of breach of faith, 12 cases of total non-performance, and the proportion of non-performance was 100%.

According to Tianyan survey information, Guanzhi Automobile Co., Ltd. is located in Suzhou City, Jiangsu Province, established in December 2007. it is an enterprise mainly engaged in the automobile manufacturing industry, with the legal representative he Hua, and the company's registered capital is 16.92548 billion yuan. The paid-in capital is 16.92548 billion yuan, and has completed the equity transfer in 2019, with a transaction amount of 1.56 billion yuan. Tianyancha shareholding structure chart shows that Hangzhou Chengmao Investment Co., Ltd., Wuhu Chery Automobile Investment Co., Ltd., and Quantum (2007) LLC Co., Ltd. are jointly controlled, with a holding ratio of 63%, 25% and 12%, respectively.

As an early independent brand with high-end positioning in China, Qoros has a good starting point, but now it is on the edge of the cliff of life and death.

In fact, Qoros was in crisis as early as 2021. At that time, Guanzhi Automobile was successively exposed news such as arrears of wages, suspension of social security and provident fund, and negative news continued after 2022, including an announcement issued by the Yunnan Provincial Development and Reform Commission in April that construction had not started for two years. Remove two investment projects: "Kunming Baoneng New Energy Automobile parts production Project" and "Construction Project of Guanzhi Automobile Co., Ltd. (Kunming) Branch". Less than a month later, he was pulled into the "blacklist" because the headquarters of Quan Zhi Automobile had been empty, and in order to protect consumers' rights and interests, Shandong Automobile Circulation Association issued a notice to the vast number of consumers in the province to issue a consumption warning: be careful to buy Baoneng Guanzhi brand cars. In November of the same year, an execution order of the people's Court of Changshu City of Jiangsu Province showed that through the network execution inspection and control system, 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. after analyzing the property inquiry, it was found that the deposit in the name of Guanzhi was only 2651.30 yuan, at the same time. Guanzhi's real estate and vehicles have been seized dozens of times.

By 2023, Qoros had nearly come to a standstill and was riddled with negative news. At the end of March, several media reported that the Guanzhi automobile production base, which is located in the Changshu Economic and technological Development Zone, was closed, while the R & D department in Shanghai had also been evacuated. Since Guanzhi Automobile was blacklisted by the Automobile Circulation Association of Shandong Province last year, there are no Qoros car sales outlets in Jiangsu, Zhejiang, Shanghai, Anhui and other places. In addition, in May 2022, a number of Qoros cars were auctioned on the judicial auction platform. In December 2022, the people's Court of Anhui Wuhu Economic and technological Development Zone issued an auction notice for the equipment of the automobile production line of Quan Bei Automobile Co., Ltd., with a starting price of about 123 million yuan. The industry believes that the Qoros car production line has been auctioned by the court and is not far from complete bankruptcy. Since then, a large number of new Quan Zhi 7 cars have appeared on the judicial auction platform, including seized cars from Shandong, Zhejiang, Hubei, Henan, Chongqing and other regions.

Looking back on the past development of Guanzhi Automobile, it can be said that there are many ill-fated fortunes. Qorui Motors first started in Chery. In 2007, Chery and Israel Group co-founded Chery Quantum Automobile Co., Ltd., and in 2011, Qorui Automobile brand was founded, and it was highly expected by Chery to carry Chery's high-end vision. Chery Automobile Chairman Yin Tongyue once said, "Audi is the idol of Qoros, and Qoros wants to be the Hyundai of China."

At that time, the competitor of the first model of Qoros aimed at Volkswagen Suiteng, and during the period from 2014 to 2016, Qoros successively launched four models, namely, Qoros 3-door version, 3-City SUV, 5-SUV and 3-GT. However, due to the poor sales performance and continuous losses in the Qoros market, the data show that Qoros sold 6867, 14001 and 24188 vehicles respectively from 2014 to 2016. The net losses were 2.2 billion yuan, 2.5 billion yuan and 1.9 billion yuan respectively, with a cumulative loss of more than 6 billion yuan over the past three years. Although Chery made many adjustments to the management of Qoros, it did not achieve substantial results. In the end, Chery sold Qoros to Baoneng.

In 2017, the "deep-pocketed" Baoneng Group became the controlling shareholder of Qoros through the acquisition of equity, and Guanzhi Automobile also ushered in a new "dawn". At that time, Baoneng even hired the former global new energy director of Nissan-Renault Alliance, Kazuo Yashima, as CEO, the former global director of vehicle interconnection technology of Nissan-Renault Alliance, Toshiro Hirai, former head of vehicle development at Infiniti, and former Nissan expert Liu Qiang. Yao Zhenhua, head of Baoneng Group, also announced with great fanfare that he would invest heavily in Qoros Automobile, spending 50 billion yuan on new product research and development of Qoros Automobile, and launch 26 new models in 2022.

With the help of Baoneng, Qoros sales rose to 63200 in 2018, an increase of 320% over the same period last year, with the highest monthly increase of 400%, due to the B-end procurement of Baoneng Group's linked Cloud behind the sales data. as a result, Qoros sales fell rapidly again the following year.

Sales in 2019 were only 22700, down 63.4 per cent from a year earlier. In 2020, Qoros released seven new cars, but it also failed to reverse the decline, and sales fell again to 13100 that year. Under the influence of many factors, such as internal staff loss, rights protection of external suppliers and dealers, and sales failure in 2021, its sales have halved again. Guanzhi sold only 5200 vehicles in 2021, with an average monthly sales of less than 450s.

By 2022, as mentioned above, Qoros was once mired in a negative situation. Auto Industry concern understands from the heavenly eye that there are 278 pieces of information about the person to be executed in the history of Guanzhi Automobile Co., Ltd., most of which are concentrated in 2021 and 2022. In addition, Automotive Industry followers flipped through the official Weibo and official Wechat account of Quan Zhi Automobile and found that the latest update time of Guanzhi Automobile Weibo stayed on November 25, 2022; the last message on Wechat official account was updated on the 20th of last month, while the last message was updated on September 29, 2022, that is to say, it was 171 days later that Guanzhi Automobile Wechat official account was updated, but only one post was updated.

The once-glorious Qoros is now a "chicken feather", while Baoneng, the "big financier" of Qoros, is in the same situation. Shenzhen Yintong Qianhai Financial assets Trading Center issued two investment notices related to Baoneng on its website, involving that many assets of Baoneng will be disposed of, namely Baoneng real estate entrusted loan claims and Baoneng automobile trust loan claims. Including Shenzhen Longgang Baoneng Science and Technology Park and other collateral and collateral, involving claims of more than 7.6 billion yuan. As of press time, the history of Baoneng Automobile Group has been executed in 56 cases, with a total amount of 5.252234674 billion yuan.

At present, the competition in the automobile market is fierce, and the industry has entered the link of survival of the fittest. We don't know whether Qoros will withdraw from the historical stage completely in the future. However, under the negative news such as the increasing information of the person being executed, the production line being auctioned and lawsuits, it is undoubtedly even more difficult for Quan Zhi to make a comeback.

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