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Recently, according to the App information, Baowo Automobile (China) Co., Ltd. was listed on the abnormal operation list by Beijing Miyun District Market Supervision and Administration Bureau on October 8 because it did not publish its annual report in accordance with the prescribed time limit.

Data show that Bowo Automobile (China) Co., Ltd. was established in July 2015 with a registered capital of about 114 million yuan. From the company's shareholder information, we can see that the company is wholly owned by Beijing Baowo Automobile Co., Ltd. The main business scope is automotive product research and development, Baowo brand car and parts sales and so on. It is worth mentioning that Bowo Motor (China) Co., Ltd. filed for bankruptcy liquidation with the court as early as last year on the grounds that its assets were insufficient to pay off all its debts. The court held that the company was the qualified subject of the bankruptcy application and already had the reasons for bankruptcy, so the bankruptcy liquidation application was accepted. In addition, the company also has a number of persons subject to enforcement, consumption restrictions and final case information.

Beijing Baowo Automobile Co., Ltd., a wholly-owned company, also filed for bankruptcy review in 2022. In April 2022, Foton Motor filed an application for bankruptcy liquidation with the Beijing No. 1 Intermediate people's Court. In November 2022, Foton Motor issued a notice saying that the court had ruled to declare Beijing Baowo Motor Co., Ltd. officially bankrupt. The court held that according to the results of the confirmation of the creditor's rights and the assets of the debtor confirmed by the assessment, Bowo Motor Company could not pay off the debts due and the assets were obviously smaller than the liabilities and not enough to pay off all the debts, so it had the legal conditions to declare bankruptcy.

Many car owners are no stranger to the Bowo brand. The car company, which first claimed to be one of the "four German luxury brands of BBBA", has not been successful along the way. Bowo Automobile was founded in 1919 by German engineer Karl Bowo, under the German luxury brand. In 1924, Bowo launched the first Bowo Blitzkarren, which was sought after by the market by its low price. In 1952, Bowo successively launched luxury sedan Hansa 2400 models and high-end sedan Bowo Isabella, with annual sales exceeding 1 million sets, covering cars, sports cars, buses, fire engines, boats, trucks and so on. But the good times did not last long, due to poor management and other factors, led to a debt crisis, and finally declared bankruptcy in 1961, fixed assets were bought by BMW and Mercedes-Benz.

BAIC Foton acquired the Bowo brand for 5 million euros in January 2014. Beijing Baowo Automobile Co., Ltd. was established in January 2016, and the first Bowo BX7 was launched in July of the same year. The new car is positioned as a SUV model with a price range of 16.98-302800 yuan. In order to make its first model popular on the market, Bowo even promoted its German ancestry and tied itself to BBA and called it the "German family four brothers", or by this title, Bowo sold more than 30, 000 cars in 2016.

Since then, Bowo has launched BX5, BX7 TS, BXi7, BX6 models one after another, but because Bowo does not have its own core R & D technology, coupled with frequent quality problems, Bowo cars are increasing, but sales have not improved much. Figures show that Bowo sold 44380 cars in 2017. In 2018, Bowo car sales began to fall to 32942, down 25.7 per cent from a year earlier.

Sales are in the doldrums, losses are rising, and Bowo's business continues to deteriorate. According to the relevant financial data, the net losses of Beijing Bowo from 2016 to 2018 were 484 million yuan, 985 million yuan and 2.54 billion yuan respectively, with a cumulative loss of 4.014 billion yuan over three years. Foton Motor had to be listed to transfer its stake in Bowo Motor in 2018. In March 2019, Shenzhou Youche acquired a 67% stake in Bowo Motor for 4.109 billion yuan. After China excellent car took over, Bowo car sales also reached its peak, reaching 50365 units, but in fact, one-third of the sales came from the purchase of rental cars in China. As Shenzhou excellent car was implicated in Luckin Coffee's financial fraud in 2020, Bowo's sales fell to 8740, nearly six times lower than at its peak. Bowo car sales continued to fall to 3612 in 2021.

The century-old German car company, which was once very popular, finally ended in the way of "bankruptcy". But in fact, in the stage of rapid development of new energy vehicles, the "knockout stage" of car companies has quietly begun. Over the past two years, a number of car companies have moved towards the brink of bankruptcy.

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