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Recently, there are media reports that the restructuring plan of the huge group has surfaced, led by the Shenzhen Commercial holding Group. In this regard, the huge group issued an announcement today to clarify. The giant group said that after verification by the company, the company has not taken the initiative to plan the reorganization, nor has it received any notice from the relevant departments about the restructuring, so there is no "restructuring party" in the media reports, let alone the leading subject.

On May 31 this year, Beijing Jidongfeng Automobile sales and Service Co., Ltd., a wholly-owned subsidiary of the giant group, applied to the court for restructuring of the giant group as a creditor, but the giant group disclosed in the announcement that it had not yet been accepted by the court and said that there was significant uncertainty in terms of judicial procedures. In addition, the giant group disclosed in the announcement that the company is currently negotiating with a joint restructuring party, including Shenzhen Shenshang holding Group Co., Ltd., Shenzhen National Transport Service Co., Ltd., and Shenzhen Yuanwei Asset Management Co., Ltd., in order to facilitate the reorganization party to understand the situation of the huge group, the board of directors of the giant group has considered the appointment of Zhao Tieliu as the general manager of the giant group. Although the parties have discussed many times, no relevant agreement has been reached, and there are no other follow-up arrangements except the appointment of the general manager.

Prior to the rumors, the huge group of Shenzhen Shang Shang holding Group did have contact with the joint reorganization party composed of Shenzhen Shenzhen Shang Shang holding Group Co., Ltd., Shenzhen National Transport Service Co., Ltd., and Shenzhen Yuanwei Asset Management Co., Ltd., but there was no concrete cooperation plan. At the same time, the giant group denied the rumor that "Ma Xi has been on the list of candidates for directors of the giant group" and said that the directors were already 14 under the articles of association. In addition, the giant group said that Pang Qinghua, the former chairman and general manager, resigned from the relevant position, but remained the company's largest shareholder, accounting for 20.42% of the company's registered capital, and was still the actual controller of the company. In 2018, the huge group had a sales income of 42.034 billion yuan and a loss of 6.172 billion yuan. In the first quarter of 2019, the company had a sales income of 4.483 billion yuan and a loss of 497 million yuan. According to the data, the company's operation has not yet recovered.

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