AutoBeta(AutoBeta.net)08/24 Report--

A few days ago, an inside news about BAIC Yinxiang's "suspension of production and holiday" attracted attention. A screenshot of a group chat showed that BAIC Yinxiang would carry out a "holiday of 1-3 years" and wait to be reorganized to lay off employees, and employees would only give IOUs regardless of whether they went or stayed. On the 23rd, BAIC Yinxiang Automobile Co., Ltd. issued a statement: all are false information.

BAIC Yinxiang official said that online "BAIC Yinxiang dissolution", "restructuring requires a holiday of 1-3 years", "compensation payment company will issue IOUs" and other information, as well as chat records, are false information. We will reserve the right to investigate the legal liability of the relevant personnel who release false statements and information and disrupt the operation and restructuring of the enterprise.

As for the progress of the company's restructuring, BAIC Yinxiang also revealed that under the joint efforts of the Chongqing Municipal Government, BAIC Group and Yinxiang Group, it is moving forward in an orderly manner, and the difficulties currently faced by BAIC Yinxiang will be properly resolved after the completion of the reorganization. BAIC Yinxiang will respond to the concerns of all sectors of the community in a timely manner and communicate with relevant parties on the progress of the work as soon as possible.

BAIC Yinxiang Automobile Co., Ltd. was established in 2011, in which three enterprises in Chongqing Yinxiang hold a total of 61.35%, Beijing Automobile Group Co., Ltd. holds 26% as major shareholders, and China Development Bank's Guokai Development Fund Co., Ltd. holds 12.65%. In 2014, BAIC Yinxiang launched the BAIC Magic Speed Brand. By 2017, BAIC Yinxiang's annual sales have reached 300000 vehicles, and the development of the enterprise has also reached its peak. Thanks to the success of the magic speed brand, Chongqing Yinxiang also set up its own brand "Speed car" in November 2016.

Now it seems that the industry environment has changed, magic speed brand and speed brand can hardly survive, and there are also big problems in the capital chain.

From a notice of suspension of production in July last year, BAIC Yinxiang still failed to get out of the predicament for more than a year. In the environment of continuous decline in the car market, domestic brands have suffered a reshuffle, which has also added a lot of uncertainty to BAIC Yinxiang after restructuring.

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