AutoBeta(AutoBeta.net)10/11 Report--

Recently, a notice on the Internet has spread that the upstream and downstream suppliers of four independent car companies, Cheetah, Zhongtai, Huatai and Lifan, have conducted risk checks. The notice was confirmed to have been issued by Ping an Bank. The email shows that the main reason for risk investigation is "according to public media reports: Cheetah, Zhongtai, Huatai and Lifan will enter bankruptcy proceedings at the end of the year." It is estimated that the industry chain involving upstream and downstream auto parts suppliers totaled about 50 billion yuan of bad debts. "

In response to the matter, the car companies involved and Ping an Bank have responded.

Ping an Bank responded that according to the macroeconomic situation, and industry, business changes and other information, regular or irregular risk screening of stock customers, is a routine risk management action.

Zhongtai Automobile issued a statement saying that this is false information, causing serious damage to the company's reputation, and has reported the case to the public security department. Zhongtai Motors said that other related derivative information, such as "Zhongtai Automobile and other four auto companies will enter bankruptcy proceedings at the end of the year and involve 50 billion bad debts in the downstream auto parts supplier industry chain" and "xx Bank's notice on the risk exclusion of stock customers involved in part of the auto industry chain" are completely false.

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

At the same time, Cheetah has responded to the news as a "false report", denying the rumor of "bankruptcy".

Affected by the automobile environment, the four independent car companies listed on the market all have operational problems.

Huatai Automobile has almost stopped production, and the incident of employees' claims for wages has been continuously exposed. Some media reported that after the court conducted an asset investigation into Huatai Automobile, it was found that all its subsidiaries had been pledged, and its shares in listed companies had been frozen. All bank deposits owned by Huatai Automobile Group add up to only 132239 yuan, and there is no other property for enforcement. Huatai Automobile and several subsidiaries are listed as breach of trust executors.

Zhongtai Motors is not bad, but its subsidiaries are worried. Zhongtai Motors lost 290 million in the first half of this year, and car production and sales fell 13.7% and 12.4% respectively compared with the same period last year. In addition, incidents of safeguarding rights at its headquarters occurred frequently, and its Junma Motor was exposed to collective protection by dealers.

Lifan is said to be in semi-stop production in the second half of the year, with monthly production of only a few hundred passenger cars. In the first eight months of this year, Lifan car production fell by more than 70% compared with the same period last year, and cumulative sales fell by nearly 70% compared with the same period last year.

Cheetah is also not optimistic, the company has launched pay cuts and layoffs.

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