AutoBeta(AutoBeta.net)05/23 Report--

According to the information of Sky Eye Inspection, on May 22, Weima Automobile Technology Group Co., Ltd. and its subsidiary Weima Automobile Technology (Sichuan) Co., Ltd. added three pieces of information of the person subject to execution, with a total of 10.84 million yuan of execution objects. The execution court was Anzhou District People's Court of Mianyang City.

Weima Automobile Technology Group Co., Ltd. is located in Shanghai City, established in May 2012, with legal representative SHEN HUI (Shen Hui) and registered capital of RMB 6 billion. It is an enterprise mainly engaged in automobile manufacturing. Shareholder information shows that the company is indirectly wholly owned by WeiMa Smart Travel Technology (Shanghai) Co., Ltd. As for Weima Automobile Technology (Sichuan) Co., Ltd., located in Mianyang City, Sichuan Province, was established in 2018 with registered capital of RMB 520 million, paid-in capital of RMB 130 million and legal representative Mao Qi. It is an enterprise mainly engaged in science and technology promotion and application service industry. According to shareholder information, the company is jointly owned by Mianyang Anzhou Investment Holding Group Co., Ltd. and Weima Automobile Technology Group Co., Ltd., with 67.31% and 32.69% respectively.

As of the time of publication, Weima Automobile Technology Group Co., Ltd. faced a number of lawsuits, including 4 persons subject to execution, a total amount of RMB 10.854065 million yuan, 178 court announcements, including 55 court sessions from May 1 to July 20,2023, mostly financial lease contract disputes, service/sales contract disputes, 92 legal proceedings, 15 court announcements and 5 judicial assistance.

It should be noted that the company changed its senior management personnel on May 13, Du Ligang (director) withdrew from the main personnel and Yang Fang (director) was added as the main personnel. It is understood that before Shen Hui founded Weima, Weima Automobile was formerly Du Ligang established in 2012 as a three-electric system R & D enterprise. On June 1,2022, Weima Automobile submitted an IPO application on the Hong Kong Stock Exchange. According to the prospectus, Du Ligang served as executive director. As CFO of Weima Automobile, Du Ligang is proficient in financial management and capital operation of enterprises at home and abroad. In sum, he is also a senior figure among Weima Automobile executives.

As for WeiMa Automobile Technology (Sichuan) Co., Ltd., Sky Eye information shows that as of the time of publication, WeiMa Automobile Technology (Sichuan) Co., Ltd. has 6 executors, with a total executed amount of 12.254218 million yuan, 5 court announcements and 3 legal proceedings.

Since entering 2023, the life of WeiMa Automobile has been unstable and bad news has been frequently reported, including full leave without pay, factory shutdown, store closure, rent arrears and property fees of headquarters building, after-sales stagnation, etc. On February 24, WeiMa Automobile was also investigated by labor inspection department due to substantial salary reduction, unknown direction of social security funds and delayed salary payment date. In the face of the negative news that followed, the voice of "WeiMa Auto is dying" is also popular in the industry. The industry believes that WeiMa Auto is plagued by a series of negative news because of its tight capital chain.

However, Shen Hui, chairman of Weima Automobile, released good news to the outside world, Shen Hui said: "Weima can continue to fight as long as there is still a breath." The biggest challenge at the moment is how to survive the darkness before dawn." On May 4, Shen Hui said on his personal social media platform: "Everything is going well!" On May 6, WeiMa said on its official micro blog: "There are not many manufacturers with OTA self-research capability, and WeiMa is one of the few brands with this capability."

Shen Hui said,"Everything is going well!" Whether the situation of Weimar has improved requires more official disclosure to know, but the industry believes that even if Weimar can "survive", it is difficult to live back to the Weimar of that year.

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