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On November 15, Zhongtai Motor issued two personnel changes announcements. One of the announcements is: Cao Min, vice president of Zhongtai, and Yang Haifeng, secretary of the board of directors, submitted their applications for resignation for personal reasons. In addition, it also announced the appointment of Xie Lihong as the new secretary of the board of directors and Xu Zijun as the representative of securities affairs, both of whom serve until the end of the eighth board of directors.

According to the official introduction, Xie Lihong has rich experience in the industry, and has served as head of the securities department and representative of securities affairs of East China Pharmaceutical Co., Ltd., secretary of the board of directors and compliance director of Zhejiang Ande Electric Appliance Co., Ltd. Hangzhou reliable Nursing products Co., Ltd., assistant to the chairman, deputy general manager, and other positions. Xie Lihong has obtained the qualification certificate of secretary of the board of directors issued by the Shenzhen Stock Exchange and has the professional knowledge and work experience necessary to perform the duties of secretary to the board of directors. The newly hired Xu Zijun has also worked in related fields for many years and has some experience in the industry. He has served as the securities affairs representative, minister of securities department, vice president and secretary of the board of directors of Chenzhou Jingui Silver Co., Ltd., and vice president of Hunan Shenzhou Walker Capital Management Co., Ltd.

In addition to the above announcement, the official also announced the appointment of Fan Chengwei as vice president of the company. The data show that Fan Chengwei has been in the automobile industry for many years, and has served as the director of the sales department of Chongqing Changan Suzuki Automobile Co., Ltd., the deputy general manager of Chery Automobile Co., Ltd., the deputy general manager of Shenzhen BYD Automobile Co., Ltd., the vice president of Zhejiang Zhongtai holding Group, the deputy general manager of Weichai Chongqing Automobile Company and the general manager of Weichai Chongqing Automobile Company, and the executive deputy general manager of Sichuan Yema Automobile Co., Ltd. Executive vice president of dawning Automobile Group and other positions.

Zhongtai's major changes in executive personnel have also attracted many industry insiders to guess whether Zhongtai will have any big action. As we all know, since Zhongtai Automobile came back from the restructuring in 2022, it has not had a strong sense of existence in the market and has lost its former glory. Data show: Zhongtai Automobile was the first Zhongtai holding Group, established in 2003. In 2006, Zhongtai Automobile launched its first model, Zhongtai 2008, which was recognized by the market. With a tape measure, it sold 333100 vehicles in 2016. However, without the support of core technology, sales have also plummeted.

Zhongtai's sales halved between 2018 and 2019, falling to 154800 and 116600. After entering 2020, Zhongtai Automobile production and operation business almost stagnated, many of its subsidiaries and parent companies were liquidated. On June 9, 2021, Zhongtai Motor was unable to pay off its due debts, and the court ruled in accordance with the law to accept the reorganization. On October 9, 2021, Zhongtai Automobile restructuring investors were finally identified as Jiangsu Shenzhen Merchants. Zhongtai announced the resumption of production in 2022, and the first batch of T300 models resumed production in Yongkang base on October 20, 2022 and held a ceremony, mainly sold to overseas markets including West Asia, South Asia, South America, the Middle East and so on.

Jiangnan Automobile, a subsidiary of Zhongtai, launched the Jiangnan U2 model in 2023, which is positioned as an all-electric small car. It was launched in February last year and is based on Jiangnan Automobile's J-Smart 1.0 pure electric platform. A total of six models have been launched with prices ranging from 56800 yuan to 98800 yuan. It is worth mentioning that the price of the new car is not high, but the sales have not been officially announced since the launch. Prior to this, some netizens asked questions on the Internet, according to the relevant dealers revealed that Jiangnan U2 has sold less than 10 vehicles so far. Whether the follow-up has formulated relevant marketing strategies to improve sales. At that time, in response to this question, the official response, Jiangnan U2 is still improving product quality, production line and other aspects of optimization, transformation.

From the official response can not be seen, Jiangnan U2 model sales situation is not ideal. At the same time, sales of T300 models exported overseas are not good, with only 1070 T300 models sold as of the first half of this year. There is no way to increase sales, and the loss must continue to increase. Data show that Zhongtai Motor's operating income in the first half of this year was 249 million yuan, down 32.95% from the same period last year. The net profit belonging to the shareholders of the listed company is-254 million yuan. With regard to the losses, officials pointed out that the decrease in revenue was due to the decrease in the company's vehicle sales revenue and the decrease in revenue in the auto parts and door business affected by the market environment.

In fact, in terms of executive personnel changes, the number of senior management changes of Zhongtai Automobile has been very frequent since December last year, as high as nearly 20 times. Frequent personnel changes are generally related to brand adjustment, but with the increasingly fierce competition in the automobile market, it is not easy for Zhongtai Automobile to return to its former glory without core technology.

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