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A few days ago, an email from a bank investigating the bankruptcy risks of four auto companies, Cheetah, Zhongtai, Huatai and Lifan, went viral on the Internet, causing heated discussion among netizens. According to the online exposure, each management team needs to conduct a risk check on whether the stock customers are involved in the upstream and downstream industrial chains of four automobile companies, namely, Cheetah, Zhongtai, Huatai and Lifan.

The main reason for the risk investigation of the four auto companies is that "according to media reports, Cheetah, Zhongtai, Huatai and Lifan will enter the bankruptcy process at the end of the year. It is estimated that the industrial chain of upstream and downstream auto parts suppliers will have a total of about 50 billion yuan of bad debts."

According to the contact information in the picture as well as the email address and other information, the bank may be Ping an Bank. According to Blue Whale Financial Weibo, Ping an Bank said to the above news that the relevant departments timely conduct risk checks on stock customers regularly or irregularly according to the macroeconomic situation of enterprises, as well as industry, business changes and other information, which is a routine risk management action.

For the above rumors, Zhongtai Automobile issued a clarification notice saying that at present, everything is normal in the production and operation of the company, and that there is no case of insolvency entering bankruptcy proceedings, and that the relevant rumors have caused serious reputational damage to the company. The company will reserve the right to take further measures to safeguard the legitimate interests of the company.

Lifan shares also issued a clarification announcement that the report is not true, there is no bankruptcy plan, the company has high debt, and there is great pressure on capital liquidity. According to the current situation of China's automobile industry, the future development may face challenges. The company will also actively take a variety of measures to reduce risks.

Although the rumors of bankruptcy are refuted, the decline in performance and economic crisis caused by poor management of car companies is an indisputable fact.

It is understood that Cheetah sold only 77600 vehicles in 2018 and only 28000 in the first half of 2019. At the same time, news such as factory shutdowns and wage cuts for employees also emerged one after another.

Lifan Motor sold only 197 traditional passenger cars in August, down 96.87% from a year earlier, while new energy vehicles sold 231 vehicles in August, down 78.87% from a year earlier. Sales totaled 1675 vehicles from January to August, down 66.12% from a year earlier. In addition to poor sales, but also by dealers collective protection of rights, but also the existence of a large number of lawsuits, the situation of Lifan Motor or the biggest crisis in history.

Zhongtai's cumulative sales in the previous eight months were only 124400, down 32.3% from a year earlier. At present, the main business of Zhongtai Automobile is basically stagnant, and its Junma Motor has also been protected by dealers. In this case, how long can Zhongtai Automobile last?

Of the four car companies, Huatai Motors is the most at risk. Its subsidiaries are pledged, shares of listed companies are frozen, and all bank loans totaled only 132200 yuan, which are now insolvent.

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