AutoBeta(AutoBeta.net)11/20 Report--

On November 19, Dayun Automobile Co., Ltd. added a new bankruptcy case. The applicant was Jiangsu Kaixunda High Speed Railway Transmission Technology Development Co., Ltd., the applicant was Dayun Automobile Co., Ltd., and the handling court was the Intermediate people's Court of Yuncheng City, Shanxi Province.

On the 1st of this month, Jiangsu Kaixunda High Speed Railway Transmission Technology Development Co., Ltd. applied for bankruptcy review cases of Hubei Dayun Automobile Co., Ltd., and Chengdu Dayun Automobile Group Co., Ltd., two wholly-owned subsidiaries of Dayun Automobile Co., Ltd., and the court was the Intermediate people's Court of Yuncheng City, Shanxi Province.

Data show that Dayun Automobile Co., Ltd. was established in August 2007, formerly known as Shanxi Dayun Automobile Manufacturing Co., Ltd., the legal representative is Yuanqinshan, the registered capital is 1.072 billion yuan, and the paid-in capital is 800 million yuan. According to shareholder information, the company is jointly owned by Universiade Kyushu Group Co., Ltd. and Dayun Group Co., Ltd., with a shareholding ratio of 99.875% and 0.125%. Hubei Dayun Automobile Co., Ltd. was established in 2010; Chengdu Dayun Automobile Group Co., Ltd. was established in 1992.

On October 29th, Dayun Automobile Co., Ltd. was listed as the person subject to execution, with a total amount of 4.6771 million yuan, and the execution court was Yuncheng Yanhu District people's Court.

Founded in 1987, Dayun Group only sold motorcycles in the early days. After 2004, it began to lay out the automotive industry, and in 2004, 2009 and 2010, respectively, it laid out the heavy truck, light truck and medium truck sectors. In 2016, it entered the new energy vehicle market and launched the "Dayun New Energy" brand, with its layout of pure electric small SUV Yuehu and pure electric medium-sized MPV Yuanzhi M1 models, but the performance of the two car markets was mediocre. In the first October of this year, Yuehu and Yuanzhi M1 retail sales were only 10208 and 6506 respectively.

Since then, Dayun Group launched the high-end new energy vehicle brand, Yuanhang Automobile, which was launched in August 2022. At the Chengdu auto show that year, the company announced four new cars, namely, the Y6, Y7, H8 and H9, which shocked the whole automobile industry. Although it is backed by Dayun Group, the volume in the car market is also low. In the first October of this year, the retail sales of the Y6 and H8 were 4250 and 2098, respectively. To make matters worse, at the end of October, there were media reports that the company was mired in operating crises such as staff loss, delayed payment of wages and shutdown of sales stores. In response to this report, Yuanhang Motor responded that at present, the company is in the transition stage of strategic adjustment and restructuring, and will resume normal operation after the adjustment, and stressed that the company relies on the Dayun Group and will not fail easily. However, people in the industry believe that from the current operating conditions and sales data of long-haul vehicles, long-haul vehicles are facing a lot of difficulties.

Nowadays, new energy vehicles are sweeping the world, and domestic new energy vehicles have also entered an unprecedented reshuffle stage, with the intensification of competition in the car market. unable to follow the pace of development of the mainstream market and car companies with limited hematopoiesis and lack of product performance are generally facing "life and death speed". At present, including Singularity Automobile, Aichi Automobile, Skyline Automobile, Evergrande Automobile, Weima Automobile and other car companies are in trouble.

At present, it is not clear where Dayun Automobile Co., Ltd. will follow, but what is certain is that in today's extremely fierce competition, Dayun Automobile Co., Ltd. will not be the last brand facing bankruptcy cases. whether they are old brand car companies or new brand car companies, if they want to go long-term, they must establish a sense of crisis, especially those whose strength is not strong, either dare to change or be eliminated.

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