AutoBeta(AutoBeta.net)08/04 Report--

On August 3, Baoneng Group issued a "statement on the violent attack on Yao Zhenhua, chairman of Baoneng Group on July 31." The statement said that all colleagues in the group strongly condemned the violent attack on July 31, and the group has taken corresponding legal action and taken necessary measures to ensure the personal safety of all cadres and employees and the normal operation of the enterprise. With regard to the issue of salary payment that has attracted much attention, Baoneng Group said in a statement: "the Group is determined to fulfill its corporate responsibilities, most of its business units are paid normally, and some of the business units with delayed pay are making every effort to solve them. Never slack off."

It is understood that earlier media reported that Yao Zhenhua's car was besieged and chained in front of the headquarters of Shenzhen Baoneng Group, and Yao Zhenhua was collectively asked for wages and beaten by employees. Then a video about Yao Zhenhua being besieged went viral on social platforms.

The video shows Yao Zhenhua being chased and intercepted by a group of people, and his glasses are "knocked off". He is very embarrassed. Someone shouted, "you are breaking the law!" But was criticized: "is it against the law to owe wages for two years?" According to media reports such as the China Securities News, the people who besieged Yao Zhenhua were unpaid employees, and many of the people involved in the besieging were ex-employees from other places. In the video, a black Maybach's window and windshield were pasted with notes such as "pay me back" and "14 months in arrears".

According to the data, Yao Zhenhua was born in Shantou City, Guangdong Province in 1970. he graduated from South China University of Technology with a double bachelor's degree in industrial management engineering and food engineering. In 2000, Yao Zhenhua founded Shenzhen Baoneng Investment Group Co., Ltd., and held the position of chairman. In March 2017, Yao Zhenhua announced cross-border car building and the establishment of Baoneng Automobile Group, then bought a 51 per cent stake in Guanzhi for 6.63 billion yuan, becoming the controlling shareholder of Quan Chi Automobile and has since entered the auto industry.

As for "arrears of wages", in fact, the news of "arrears of wages" of Baoneng Group has been exposed online since last year. According to the "wage arrears Table of Baoneng Group system" circulated earlier, the wage arrears of the entire system (16 sectors) of Baoneng exceeded 1.3 billion yuan, of which the arrears of wages from July 2021 to April 2022 alone reached 720 million yuan, and Baoneng Automobile alone accumulated 647 million yuan in arrears. Qoros accumulated unpaid wages of 130 million yuan. In other words, the automobile business is the "hardest-hit area" of wage arrears in Baoneng.

It is understood that Yao Zhenhua was once worth more than 100 billion yuan and ranked fourth on the 2016 Hurun China Rich list with a fortune of 115 billion yuan, second only to Wang Jianlin, Jack Ma and Ma Huateng. But since 2021, Baoneng has been accused of falling into a debt crisis, and in June, it was reported that some dealers of Baoneng cars and former employees demanding wages would ask for an explanation every once in a while. What is the extent to which Baoneng is short of money? 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.

According to the Daily Business News, due to the periodic liquidity difficulties of Baoneng Group, Baoneng's national business has been in a bad state since June 2021, and the management team reviewed the 472 stores that had opened. Stores that do not meet market demand and have no actual performance are disposed of. By April 2023, due to the continuous outbreak of problems such as rent arrears, loan arrears, deposit arrears, arrears of wages, social security, and housing provident fund, there were only seven directly operated stores in the country (all located in self-owned properties). In addition, due to the expiration of the announcement of the Ministry of Industry and Information Technology where Guanzhi 7 models are located, the vehicles were detained and unable to be licensed, resulting in the stagnation of Baoneng Automobile's overall business, and 126 people are still working. Mainly responsible for the maintenance and maintenance of existing customers throughout the country, 7 store operations, DS05 project research and follow-up, financial accounts carding, personal income tax declaration and labor arbitration cases, litigation and bankruptcy handling.

In addition, a number of property assets of Baoneng have also been disposed of. In April this year, Shenzhen Yintong Qianhai Financial assets Trading Center issued two investment promotion notices related to Baoneng's creditor's rights on its website, involving that many assets of Baoneng will be disposed of. They are Baoneng real estate entrusted loan claims and Baoneng auto trust loan claims, including a number of collateral and collateral, including Shenzhen Longgang Baoneng Science and Technology Park.

At present, Baoneng Automobile is almost in a state of shutdown. But even so, Yao Zhenhua still has high expectations for the auto business. In February this year, Yao Zhenhua, chairman of Baoneng Group, said at the 2023 New year Construction Conference of Baoneng Group that he was faced with unprecedented liquidity difficulties in 2022. Baoneng promotes financial payment, asset disposal, financing extension and debt optimization and restructuring. 2023 will be a new starting point for Baoneng's next three decades of brilliant journey, and it will also be a decisive year for Baoneng's strategic acceleration.

However, judging from the current situation of Baoneng Automobile, Baoneng Automobile has come to the edge of the cliff. Since entering 2023, Baoneng Motor has been involved in various debt disputes, lawsuits have continued, and the information of the person subject to execution has been increasing. Tianyan check information shows that as of today, the history of Baoneng Automobile Group has been executed in 22 cases, with a total amount of 3.539640194 billion yuan. On the other hand, Baoneng Group also has 82 cases of information on persons subject to execution, with a total amount of more than 40 billion yuan. at the same time, the group also has a number of restrictions on consumption orders, breach of faith and final capital cases, with a total outstanding amount of more than 200 million yuan.

Baoneng Group said in the above statement: "the Group has solid assets, a solid foundation, the industrial direction is highly matched with the needs of the national economy, various businesses are ploughing deeply, the operation continues to improve, and breakthroughs have been made to resolve liquidity difficulties."

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