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On October 29, a number of media reported that Naha Automobile began to implement a salary reduction plan for all R & D personnel, and employees of various departments have received salary reduction notices one after another from today.

The report pointed out that the salary reduction involves more than 1, 000 people, with the highest pay reduction for employees with an annual salary of 500000 yuan or more, and the corresponding positions are senior managers and above. According to the report, a senior manager disclosed that he had received verbal notice from his direct leadership that his salary would be reduced from September 1, with a pay cut of 30% for employees with an annual salary of more than 1 million yuan, 20% for employees with an annual salary of 50-1 million yuan, and 10% for employees with an annual salary of 30-500000 yuan, and 5% for employees with an annual salary of less than 300000 yuan. In addition, on the basis of this pay cut, if the employee's salary is still higher than the "post salary", it will be reduced by another 10%.

In response to the above report, Naha Automobile formally launched the company's all-member equity incentive plan on October 29th, allocating 5 per cent of its shares (valued at about 2 billion yuan) to all employees as equity incentives, and internally announced a new plan for salary and performance appraisal. Naha Automobile said that this incentive and salary adjustment plan is part of the company's goal of operating cash flow as soon as possible. Next, Naha Automobile will also implement a series of measures to reduce costs and increase efficiency, such as streamlining, eliminating redundant staff, focusing on business, and flat management.

In the middle of this month, 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. Earlier in February, when it was reported that the payment of year-end bonuses, provident funds and wages had been postponed, Zhang Yong, CEO of Naha Automobile, said: "from 16 years onwards, we have never been a day late to cash employees' wages / bonuses / social security. Last year was so difficult, and I didn't think about salary cuts or layoffs. Maybe a few employees in the company are not used to living a hard life. It seems that it is necessary to pass on the cold to everyone. "

According to the data, Nahu Automobile is the car brand of Hezhong New Energy Automobile Co., Ltd., founded in 2014, its products include Naga U, Nezhong V, Nezhu S and Nezhong GT models, mainly low-end models, the product price is basically in the range of 7.39-220000 yuan, although there are many products, but the life of Nahu car is not easy, and its car sales began to fall into a downturn since 2023. In 2023, Nashi car sales fell 16.16 per cent year-on-year to 127496, meeting only 51 per cent of the target of 250000.

After entering 2024, compared with Wei Xiaoli and zero-running car, Naha car still looks very lonely. Data show that in the first nine months of this year, Naha delivered a total of 85908 vehicles, meeting only 42.95 per cent of the domestic sales target of 200000 vehicles. Among them, the number of vehicles fell 23.41% to 10118 in September compared with the same period last year, and there are not many models in the segment. Take September sales as an example, the highest-selling model in Nahu is the Nawei X, with 3085, followed by Nashi L, which is followed by 2600, while Najia AYA and Negra S sell 1334 and 496vehicles.

It is worth mentioning that Naha made a cumulative net loss of 18.373 billion yuan in three years from 2021 to 2023, and its cash reserve was only 2.84 billion yuan by the end of 2023. As one of the new forces in car building, Nahu is facing multiple pressures and challenges such as declining sales and IPO. "how to survive in the fierce market competition" is still a serious issue that Nahu cars need to face, and we will continue to pay attention to whether the car can reverse the trend in the future.

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