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In the face of the continuing downturn in the automobile market environment, Lifan shares publicly showed that they had lost 947 million yuan in the first half of the year and announced a few days ago that they wanted to return to the motorcycle industry to seek survival. According to the production and sales data released by Lifan, in the first half of the year, Lifan's sales of traditional passenger cars were 21000, down 62.6% from the same period last year, while sales of new energy vehicles were only 1257, down 60.7% from the same period last year. Lifan's loss of 947 million yuan in the first half of the year is not surprising.

On Sept. 12, Lifan again announced that 108 million of the shares held by the company's controlling shareholder, Chongqing Lifan Holdings Co., Ltd. (hereinafter referred to as "Lifan Holdings"), had been frozen on the waiting list. The starting date of the freeze is 2019-09-10 and the freeze period is 3 years.

So far, Lifan Holdings holds a total of 618 million shares, accounting for 47.08 per cent of the company's total share capital, according to Lifan. After the shares were frozen on the waiting list, the cumulative number of shares held by Lifan Holdings was judicially frozen and the number of shares frozen on the waiting list was 6.16 shares, accounting for 99.55% of the total shares held and 46.87% of the total share capital of the company.

The freezing of the shares of major shareholders is naturally related to the company's capital chain. In May this year, more than 30 dealers defended their rights to Chongqing Lifan Group. According to Tianyan investigation, the amount of litigation and arbitration cases involved in Lifan shares has reached 1.423 billion yuan, and the litigation cases mainly include financial loan contracts, factoring contracts, financial leasing contracts and other disputes. Among them, Bohai International Trust, Shanghai Hongxing Macron Commercial factoring, Chongqing Senmai Auto parts and other companies are the "creditors" of Lifan shares.

According to incomplete statistics, the book balance of current liabilities of Lifan shares in 2018 has reached 18.78 billion, but in the past two years, Lifan shares assets and liabilities are still rising. Today, the asset-liability ratio is more than 70%. In the first quarter of 2019, Lifan shares had total assets of 26.8 billion yuan and total liabilities of 19.3 billion yuan, with an asset-liability ratio of 72%.

In the face of huge losses and debts, Lifan said that according to the previous investment experience in the new energy industry, Lifan shares combed the existing new energy industry and gradually implemented the development goal of "transformation from manufacturing to service". The company pays close attention to the technological development direction of the new energy industry, optimizes the existing R & D projects while taking into account the development of hydrogen fuel cell vehicle projects, and judges the feasibility of its commercial use and promotion through repeated verification of new technology projects. control the company's investment risk. At the same time, strengthen the motorcycle business, hoping to lead Lifan out of the predicament.

But the facts are also very difficult. According to the latest sales figures, Lifan Motor Company produced 218 new energy vehicles in August, down 85.05% from January to August compared with the same period last year, down 73.64% from January to August. Sales of new energy vehicles in August were 231, down 78.87% compared with the same period last year. From January to August, sales of new energy vehicles were 1675, down 66.12% from a year earlier. Among them, the transformed motorcycle industry sold a total of about 350000 motorcycles this year, down 12.55% from the same period last year to 34.52%, with a cumulative sales of 520000 units.

Today, Lifan, whether in the field of traditional fuel vehicles or new energy, or even return to the motorcycle industry, the performance is not satisfactory. In the face of no improvement in sales, difficulties in the transformation of the company, capital problems and many other problems. Lifan, once an independent old car company, has come to the present situation, which makes people feel sad.

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