AutoBeta(AutoBeta.net)10/19 Report--

On Oct. 18, according to Interface News, Pan Deng, former managing director of Goldman Sachs (Asia), has taken over as vice president and represented the company at an analyst meeting.

There is not much information on the market about Pendon. Pandon, who worked at Goldman Sachs for nine years and was in charge of investment banking, left in August, according to the data. Prior to that, Pendan worked at Merrill Lynch, Bank of America, QRM, an American consulting firm, and led joint ventures between Volkswagen and Horizon. Pan Deng is currently appointed as chief financial officer (CFO) and vice president of Nezha Automotive. On September 6, Chen Rui, chief financial officer of Nahu Automobile, left, and Pan Deng took over Chen Rui's position and was fully responsible for the financial work of Nahan Automobile. At that time, it was generally believed that the new CFO personnel adjustment might promote the car IPO process. In June this year, Hezhong New Energy Automobile Co., Ltd., the parent company of Naha Automobile, submitted its prospectus to the Hong Kong Stock Exchange, but no substantial progress has been made so far.

At the beginning of this year, Naha Automobile has undergone a major senior change, including CEO Zhang Yong as president of the marketing company and other job changes. At present, the vice presidents of Naha Automobile include Chen Zhiliang and Pandeng, the former serving as vice president and chief brand officer, fully leading the brand construction and operation, public relations communication and product planning.

Nezhong Automobile is the car brand of Hezhong New Energy Automobile Co., Ltd., founded in 2014, its products include which car U, V, S and GT models, mainly low-end models, the basic price range of 7.39-220000 yuan. As one of the new car-building forces, the performance of Nahan Automobile in the auto market has obviously widened the gap with that of ideal cars, Xiaopeng cars, Lulai cars, zero-running cars and other car companies.

Nashi became the new car-building force with sales of 152073 in 2022, but fell 16.16 per cent to 127496 in 2023, achieving only 51 per cent of the target of 250000. To this end, in early January this year, Zhang Yong, the CEO of Nashi Automobile, posted on Weibo for a profound annual reflection and made a series of innovations, including Zhang Yong personally serving as the general manager of the marketing company; completing the listing of 5 SUV, Nadal L and crossover EP41; the adjustment of the existing product line and channel upgrading; all the marketing system stood up and took up the post again; after two years of development, overseas markets have the basis to accelerate progress in 2024. Comprehensively improve marketing communication and user communication. Unfortunately, judging from the current performance of Nahan Automobile, the results of these measures are not obvious.

According to the plan, the global sales target of Naha in 2024 is 300000, of which 200000 are domestic and 100000 are overseas. But since 2024, Nashi has not been able to perform as expected in the auto market. Data show that from January to September this year, Naha delivered a total of 85908 vehicles, of which in September fell 23.41 per cent year-on-year to 10118, compared with a number of new car-building forces to deliver a record high.

On October 16, an employee who certified Naha car said in a post: "Naha car can no longer pay wages and owes suppliers a lot of money. I would like to advise everyone to be careful to buy." In this regard, the official response, the current front-line and factory employees' salaries are paid on time, the recent middle-level and senior executives in the company's salary structure adjustment, before IPO to confirm the right, only individual salary payment is slightly slow. It is worth mentioning that Naha has a cumulative net loss of 18.373 billion yuan in three years from 2021 to 2023, and its cash reserve is only 2.84 billion yuan by the end of 2023.

Today, Naxi is facing multiple pressures and challenges, such as declining sales and IPO. As for which car can go up against the trend during the year? From the current point of view, it is extremely difficult. As of the end of September, the target completion rate of 200000 cars in China was only 42.95%.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat