AutoBeta(AutoBeta.net)07/24 Report--

"Auto Industry concern" learned from the heavenly eye that on July 11, Baoneng Auto parts Co., Ltd., Shenzhen Baozhen Mould Co., Ltd. added a piece of equity freeze information, the person to be executed is Baoneng Automobile Group Co., Ltd. the frozen equity amount is 5 billion RMB and 500 million RMB respectively, and the freeze period is from July 11, 2023 to July 10, 2026. The enforcement court is the Longhua District people's Court of Shenzhen City.

According to the national enterprise credit information publicity system, Baoneng Auto parts Co., Ltd. And Shenzhen Baozhen Mould Co., Ltd. are wholly owned by Baoneng Automobile Group Co., Ltd. Among them, Baoneng Auto parts Co., Ltd. has been listed in the list of abnormal operations, the company was established in November 2020, the legal representative is Guanyu, the registered capital is 5 billion yuan, is an enterprise mainly engaged in the automobile manufacturing industry.

At present, Baoneng Automobile is almost in a state of shutdown and negative. According to information disclosed on the website of the Development and Construction Management Committee of Xixian New area in Shaanxi Province on July 13, due to the failure to return the certificate of immovable property rights to the Bureau of Natural Resources and Planning of Xixian New area within the prescribed time limit, three cases of use rights of state-owned construction land owned by Xi'an Baoneng Automobile Co., Ltd. were cancelled. In addition, according to media reports, 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.

Baoneng Group was founded in 1992, headquartered in Shenzhen and chaired by Yao Zhenhua. In March 2017, Yao Zhenhua announced cross-border car building and the establishment of Baoneng Automobile Group, and then bought 51% of Guanzhi for 6.63 billion yuan, becoming the controlling shareholder of Guanzhi Automobile. Since then, the owner of Baoneng Group has also brought good market feedback to Guanzhi Automobile. At that time, the face of Baoneng Automobile was not bad, and Yao Zhenhua, who was rich and powerful, even made a high-profile statement that he would invest more than 50 billion yuan in Qoros Automobile. It also said it would take 10 to 15 years to build Baoneng into a powerful group, with plans to launch 26 new models by 2022.

In the end, however, Yao Zhenhua not only failed to deliver on his promise to Qoros, but Baoneng also failed to protect itself. In 2021, Baoneng car factory shutdown, layoffs, severed employees' social security, shop closure and many other problems, Baoneng car arrears, severed employees' social security incident also began, and then fell into a liquidity crisis. Qoros has been on the edge of a cliff since 2023, with negative news such as unpaid wages, suspension of production, auction of production equipment and near shutdown.

Although Baoneng has three major passenger car brands: BAO, Quan Zhi and au Poly, BAO and au Poly have not yet achieved mass production and listing. It should be noted that as China's auto market gradually bid farewell to the high-growth dividend era, the competition in the auto market no longer depends on one or two popular models to survive, the automobile industry has entered the process of survival of the fittest, and the knockout stages among car companies are becoming more and more intense, and the reshuffle is particularly obvious. In this context, Baoneng still has no products to come up with, and it is clear that the pressure it will face will be even greater.

Since 2023, including Weima, Tianjing, Reading and other car companies have fallen into varying degrees of operational difficulties, arrears of wages, production stops and other incidents have also occurred frequently, while Tianyan check information shows that since 2023, Baoneng Automobile Group continues to add new pieces of executed information, the amount of execution is more than 2.2 billion yuan, with the increasing number of information about the person being executed, it will be more difficult for Baoneng Automobile to make a comeback.

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