AutoBeta(AutoBeta.net)07/14 Report--

A few days ago, the Development and Construction Management Committee of Xixian New area of Shaanxi Province issued a notice on the cancellation of the certificate of real estate ownership. According to the Administrative decision of the Natural Resources and Planning Bureau of Xixian New area of Shaanxi Province on June 19, 2023 to rescind the contract for the transfer of the right to the use of state-owned construction land. Because Xi'an Baoneng Automobile Co., Ltd. failed to return the fixed property right certificate to the Xixian New area Natural Resources and Planning Bureau within the prescribed time limit, according to the relevant provisions of the rules for the implementation of the interim regulations on Real Estate Registration, it is decided to cancel the registration and announce the right to the use of the three pieces of state-owned construction land owned by Xi'an Baoneng Automobile Co., Ltd.

It is worth mentioning that there are many projects that Baoneng has not advanced for a long time.

In April 2022, the Yunnan Provincial Development and Reform Commission issued a notice on the removal of project record information and investment certification documents of "Kunming Baoneng New Energy Automobile parts production Project" and "Construction Project of Guanzhi Automobile Co., Ltd. (Kunming) Branch". The Yunnan Provincial Development and Reform Commission said that since the two projects were filed in 2018, the project units did not start construction for two years overdue, failed to explain through the Yunnan investment project online examination and approval supervision platform, and did not withdraw the filing information. after reminding, no corresponding treatment has been made.

In 2017, Baoneng Group acquired Guanzhi Automobile as a way to enter the development of the automobile industry, and planned 8 production bases across the country, including Guangzhou, Xi'an, Kunming, Hangzhou, Guizhou, Kunshan and other places, with a total area of about 4.5744 million square meters, including 81500 square meters of residential land. According to the official website of Baoneng Group, Baoneng Group claims that "Baoneng Automobile has laid out seven vehicle manufacturing bases in the country, with a standard production capacity of 930000 vehicles and a long-term annual production capacity of 3 million vehicles." it is expected to produce and sell 300000 vehicles in 2023, and sprint to achieve the goal of producing and selling more than 1 million vehicles in 2026.

In November 2020, Baoneng Automobile Xi'an factory held a grand new car unloading ceremony, which means that Baoneng Automobile Xi'an base was officially completed, and the first car of the independently developed new energy xEV platform and Baoneng added program electric vehicle (REV) also went offline on the same day.

However, according to the "first Finance" reporter after a field visit found that Baoneng Automobile Xi'an factory did not carry out production. Some workers said: "the whole factory was not officially put into production, but about 15 cars were debugged and produced, and the leader came to sit down." Insiders revealed that the Xi'an factory originally arranged to increase the program Guanzhi 3 and 5, as well as Baoneng new energy BAO brand's first SUV production plan, but did not put into production because the funds were not in place. The truth is that Baoneng shipped most of the parts produced by Guanzhi's Changshu plant to Xi'an and did an offline ceremony at the Xi'an base.

In September 2020, Qoros launched the new compact SUV-- 7, priced at 10.98-159800 yuan, which is the first model launched by Baoneng Group after its acquisition of Qoros. However, the entry of Baoneng and the launch of Guanzhi 7 did not save Guanzhi. Guanzhi has been unproductive since 2022, selling only 454 Guanzhi 7 cars for the year, and the model is currently discontinued.

According to public reports, Baoneng Group has been in a liquidity crisis since the beginning of 2021, facing difficulties such as overdue redemption and debt default of financial products. It has to continue to withdraw funds by reducing its shareholdings in listed companies, pledged shares and disposing of assets.

The automobile business is the sector where Baoneng first exposed its financial crisis. In July 2021, Baoneng began to lay off workers on a large scale, with the proportion of layoffs exceeding 65%. Due to the periodic liquidity difficulties of Baoneng Group, the national business of Baoneng Automobile sales Company has been in a bad state since June 2021, laying off a large number of staff while reducing the number of offline stores across the country. As of April 2023, due to rent arrears, loan arrears, deposit arrears, arrears of wages, social security, housing provident fund and other problems continue to break out, resulting in only seven directly operated stores (all located in self-owned properties).

According to the report of the Daily Business News, as of early April this year, Baoneng Automobile involved 5659 people who owed wages, with a total arrears of wages of about 130 million yuan (including compensation of about 25 million yuan), social security arrears of about 91.8 million yuan and provident fund arrears of about 62.72 million yuan. At the same time, Baoneng Automobile Group added more messages to be executed, with an amount of more than 2.2 billion yuan.

However, like Evergrande Xu Jiayin, Yao Zhenhua has always been reluctant to give up his "dream of building a car." In addition to acquiring Guanz, Baoneng Group also acquired Changan Mark Citroen Automobile Co., Ltd., and renamed the company Shenzhen Baoneng Automobile Co., Ltd. to produce DS 9 models. In addition, Baoneng Automobile has also launched BAO, au Poly and other new brands, but the above brands have not yet achieved mass production and listing.

Although there is a grand goal, it is "precarious". With the fierce competition in today's automobile market, the industry has entered the link of survival of the fittest. Who will clean up the mess of Baoneng Automobile? Can Baoneng make a comeback? Employees, car owners and former partners all want to know a clear answer. It seems even more difficult now.

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