AutoBeta(AutoBeta.net)11/22 Report--

According to Tianyan investigation, Hezhong New Energy Automobile Co., Ltd., the parent company of Naha Automobile, added an equity freeze message. The enterprise whose equity is being executed is Nezhong New Energy Automobile Manufacturing Co., Ltd., the frozen amount is 1 billion yuan. The freeze period is from November 19, 2024 to November 18, 2027. The executive court is Tongxiang City people's Court.

The new power enterprises, which once attracted attention, are now facing a survival crisis. Although Nahu has repeatedly refuted the rumors and insisted that it is getting the company back on track through measures such as streamlining the business, focusing on the core, organizational optimization and salary and performance reform, the news of layoffs, arrears to suppliers, and factory shutdowns still leaves Nahu cars hovering between life and death.

According to the IT Times (founded in March 2004, formerly known as the Shanghai Post and Telecommunications), production at Nahan's Tongxiang factory in Zhejiang Province has been suspended for nearly a month, and some workers on the production line have been laid off, leaving workers just waiting for compensation. According to employees, the Tongxiang factory has three major workshops, namely painting, welding and final assembly, which assembles car parts, and all the vehicles are offline from here, but now all three workshops are out of service. From the point of view of the scene, the whole car parked at the gate of the factory has been covered with dust, which shows that it has been parked for a long time.

Production stopped, and the sales of Nahu cars in the terminal stores were also a mess, which was more or less affected by the market news. The Nezha car offline store in Hongqiao Tiandi in Shanghai has been closed, while the experience center in the city center has not seen any consumers enter the store for a long time, and business is very bleak. According to media reports, four Nahan offline stores in Beijing have been closed, two experience centers in Chengdu have been closed, and some direct stores in Hangzhou, Nanjing and other places have also been closed.

In addition, the car has also been asked by the supplier to collect the debt. On November 8, Evert Intelligent equipment Co., Ltd. (hereinafter referred to as "Evert") issued a notice that it had filed a lawsuit with the court because its parent company, United Motor, owed more than 48 million yuan in contract payments. to demand payment of the outstanding contract payment and compensation for the loss of late payment. It is understood that Evert provided Yichun Hezhong with projects such as general contracting of car body workshop equipment, rolling edge island and welding island, and automatic welding line from 2020 to 2022, but after all these projects were checked and accepted, Yichun Hezhong has not paid the remaining contract price within the time limit, totaling 48.195 million yuan.

At present, the market is generally concerned about how much longer the auto book funds can support. According to the prospectus, the net losses from 2021 to 2023 were 4.84 billion yuan, 6.67 billion yuan and 6.87 billion yuan respectively, with a cumulative net loss of 18.38 billion yuan over the past three years, with an average annual loss of 6 billion yuan. However, by the end of 2023, the cash equivalents of Naha were 2.837 billion yuan, short-term loans were 4.317 billion yuan, long-term loans were 1.44 billion yuan, notes receivable and accounts receivable were 2.65 billion yuan, notes payable and accounts payable were 6.226 billion yuan. At the end of the period, the company's asset-liability ratio was 86.28%.

Going public seems to be the best way to fill the loophole. In June this year, the main body of Nezhong New Energy submitted an application to the Hong Kong Stock Exchange for listing. In October, the code of Hezhong New Energy on the Hong Kong main board has been changed from temporary code 810613 to official code H1940, and its name has changed from Hezhong New Energy to United Motor. It seems to be only one step away from listing. However, with the news of wage cuts, layoffs, shop closures and production suspension have been exposed one after another, Naha Motor seems to have a sense of Weimar, and it is still unknown whether it can be listed on schedule.

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