AutoBeta(AutoBeta.net)08/29 Report--

According to the National Enterprise bankruptcy reorganization Information Network, on August 28, Gaohe's parent company, Chinese Express Investment Co., Ltd., added a bankruptcy examination case. The applicant was the company, and the handling court was the Laixi City people's Court.

According to the judgment documents, Chinese American Express Investment Co., Ltd. applied to the court for restructuring and pre-restructuring on the grounds that its assets could not pay off all its maturing debts, but had the value and possibility of restructuring. After the case was put on file on August 28, the court formed a collegial panel for examination according to law.

The court held that the new energy vehicle industry where Chinese American Express Investment Co., Ltd. is located has a broad prospect, and that pre-restructuring will help to improve the efficiency of enterprise reorganization, reduce the cost of enterprise reorganization, give full play to the function of the reorganization system to save distressed enterprises, better protect the legitimate rights and interests of creditors, and the debtor has pre-reorganization value, which meets the pre-reorganization conditions. Therefore, the pre-restructuring application of Chinese American Express Investment Co., Ltd. shall be accepted for a period of three months, and if there is a good reason, it may be extended by three months upon the application of the pre-reorganization manager.

On August 29, the National Enterprise bankruptcy reorganization case Information Network issued a hearing announcement on the merger and pre-reorganization of Chinese American Express Investment Co., Ltd. According to the announcement, the people's Court of Laixi City decided to accept the application for pre-restructuring of Chinese American Express Investment Co., Ltd. In the course of hearing the case, Chinese American Express Investment Co., Ltd. submitted an application for merger and pre-reorganization to the court. On the grounds that the legal personality of Chinese American Express Investment Co., Ltd., Chinese American Express (Shandong) Technology Co., Ltd. And Gaohe (Qingdao) Automobile sales and Service Co., Ltd. (hereinafter referred to as three affiliated companies) are highly confused, the operation and management are highly integrated, the cost of distinguishing the property of the members of each affiliated enterprise is too high, and separate bankruptcy will seriously damage the fair settlement interests of creditors, apply to the court for the substantive merger and pre-reorganization of the three affiliated companies. And submitted the preliminary evidence material.

Tianyan check information shows that the legal representatives of the above three affiliated companies are all Ding Lei. Among them, Chinese American Express Investment Co., Ltd. was established in January 2022, with registered capital of 500 million US dollars, paid-in capital of 420.4011 million US dollars, and the legal representative is Ding Lei. According to the shareholding structure, the company is wholly owned by Human Horizons Limited; Chinese American Express (Shandong) Technology Co., Ltd. was established in December 2021 with a registered capital of 1.8 billion yuan, paid-in capital of 397.434 million yuan, and the legal representative is Ding Lei. The company is wholly owned by Chinese American Express Investment Co., Ltd. Gaohe (Qingdao) Automobile sales and Service Co., Ltd. was listed on the list of business anomalies because it could not be contacted through its registered residence or place of business. The company was established in April 2021 with a registered capital of 2 billion yuan and its legal representative is Ding Lei. The company is wholly owned by Chinese American Express Investment Co., Ltd.

It should be noted that at the beginning of this month, the National Enterprise bankruptcy reorganization Information Network showed that on July 1, China Express (Jiangsu) Technology Co., Ltd., on the grounds that its assets could not pay off all its due debts, but had the value and possibility of reorganization, applied to the people's Court of Yancheng Economic and technological Development Zone for reorganization, and applied for pre-reorganization at the same time. The people's Court of Yancheng Economic and technological Development Zone made a decision on August 8 and decided to accept the application for pre-restructuring of Chinese American Express.

Chinese American Express (Jiangsu) Technology Co., Ltd. was established in September 2017, with a registered capital of 1 billion yuan. Ding Lei is the legal representative, chairman and general manager. According to the shareholding structure, Chinese American Express is jointly owned by Chinese American Express (Shanghai) Co., Ltd. and Jiangsu Yueda Automobile Group Co., Ltd., with the former holding 80% and the latter 20%.

Data show that Chinese American Express is the parent company of Gaohe Motors. The former was founded by Ding Lei in 2017, with smart cars, smart transportation and smart city "Sanzhi" as its strategic layout. It is an innovative travel technology company focused on the future intelligent transportation industry, while the latter focuses on the luxury intelligent pure electricity brand, founded in July 2019 and founded by Ding Lei.

At the beginning of this month, after the Chinese American Express (Jiangsu) Technology Co., Ltd. applied for restructuring, there was an interpretation of "Gaohe Automobile declared bankruptcy" in the market. At that time, Gaohe officials responded to the verdict, saying that Gaohe is now officially entering judicial pre-restructuring. At the same time, Gaohe stressed that "judicial pre-reorganization" is not "bankruptcy reorganization", let alone "bankruptcy liquidation". Gaohe said: "Judicial pre-restructuring is an important turning point for gradually solving the current plight of Gaohe, and it is also a key step for the government, courts, shareholders, and intended investors to recognize the value of Haohe." and under the intervention of judicial effect, it is a key step to promote the Chinese American Express to solve the creditor problem and form a restructuring and regeneration plan in line with the common interests of all parties as soon as possible. After the judicial pre-restructuring reached an agreement, Gaohe Automobile will carry out judicial restructuring, and then it will formally get back on track. "

However, today's high-tech cars are chicken feathers. Since the Spring Festival of the year of the Dragon, Gaohe Automobile has been caught in a situation of suspension of production and production, and has since begun to save itself. Unfortunately, a series of measures have not achieved results. Like the new power brands that went bankrupt and restructured in the past, what Gaohe needs most is capital, and it urgently needs the "rescue" of external funds.

At present, Gaohe does not have a clear self-rescue path, and there are still many uncertain factors whether it can be reborn in the fire and go back to the right track. What needs to be faced squarely is that even if Haohe gets life-saving money, it can only alleviate the urgent need. For high-tech vehicles, the competition in the new energy vehicle market is becoming more and more fierce, and how to compete with other automobile manufacturers is also a huge problem in front of it.

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