AutoBeta(AutoBeta.net)11/21 Report--

Tianyan information shows that on November 20, Pangda Automobile Trading Group Co., Ltd.(hereinafter referred to as "Pangda Group") added many pieces of information about the person subject to execution, reaching 48 pieces, which is relatively rare, and also added the day before. There were 6 pieces of information about the person subject to execution.

As of press time, the company's cumulative total execution amount reached 571 million yuan.

Public information shows that Pangda Automobile Trading Group Co., Ltd. was established in March 2003. It was once known as Tangshan Pangda Automobile Trading Co., Ltd., its legal representative is Cheng Zhengzhi, and its registered capital and paid-in capital are both RMB 10.2 billion. In October 2023, Huang Jihong officially stepped down as legal representative and chairman, and Cheng Zhengzhi took over. At the same time, the company type was changed from other joint-stock limited company (listed) to other joint-stock limited company (unlisted).

At present, the company has as many as 134 pieces of information on the person subject to execution. In addition, the total amount of execution targets in this final case is 9.5156 million yuan, with an unfulfilled proportion of 97.9%. The equity held by many companies has also been frozen. With the addition of many new information on the person subject to execution this time, it has undoubtedly made it even more difficult for the huge group that is already in a difficult situation.

As a national automobile dealer group with automobile sales and after-sales services as its main business, the Pang Group mainly handles more than 30 passenger car brands such as Mercedes-Benz, FAW Audi, FAW Volkswagen, FAW Toyota and Subaru. It was once the largest in China. The car dealer group was once called the "King of 4S Stores" in the industry. But now the huge group is in an embattled situation. Not only did it miss the title of "King of 4S Stores", it faced a financial crisis, and it also delisted in June this year. At that time, *ST Pangda issued an announcement stating that the Shanghai Stock Exchange had delisted the company's shares. Since then, Pangda Group has officially delisted.

This time, the number of new enforcers 'information will undoubtedly add insult to injury for the huge group, and the huge group will have to face these financial and legal challenges in the future.

Along with price wars and intensified competition, the profit margins of large dealer groups have been further compressed. News such as thunderstorms, financial crises, shop closures and online withdrawals, and imminent delisting are common. Especially since 2024, most car dealers have had their lives. It's not easy. In September this year, China Automobile Dealers Association said that it had received reports from a large number of dealers that the continued "price war" had caused automobile dealers to get into trouble and faced outstanding problems of extreme financial liquidity.

According to dealer data for the first half of the year released by China Automobile Dealers Association, only 28.8% of dealers achieved the semi-annual sales target in the first half of the year, while the proportion of dealers with a target completion rate of less than 70% still reached 33.3%. In addition, large-scale losses are also the development status of dealers in the first half of the year. The overall dealer losses are at a high level in recent years. In the first half of the year, only 35.4% of dealers achieved profits, while the proportion of loss-making dealers reached 50.8%.

Times have changed. Nowadays, both dealers and 4S stores are facing considerable challenges. It is an irreversible trend that more dealers and 4S stores will fall in the future. Dealers and 4S stores urgently need to make changes.

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