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In response to the news that the internal notice of Ping an Bank showed that "four auto companies applied for bankruptcy to conduct supply chain risk investigation", Zhongtai Automobile, Cheetah Automobile and Lifan Motor all issued statements denying it at the first time, and the silent Huatai Motor finally responded by denying the bankruptcy rumors.

Huatai Motors issued an official statement saying that the operation of Huatai Motor has been affected by the continued decline of the industry, and the company is actively taking measures to reduce risks. At the same time, dawning shares controlled by the company are operating normally, and the business is also moving forward in a stable and orderly manner. Huatai Motor also said that the online information and its derivative reports are maliciously fabricated and completely false, and will reserve the right to pursue legal liability.

Zhang Hongliang, executive director of Huatai Automobile Group, denied in media interviews that Huatai Automobile's debt was as high as 29.4 billion yuan and the company's book balance was only 130000 yuan.

Earlier, an internal email from Ping an Bank was released, which attracted the attention of the industry. The content of the email shows that it is required to conduct an internal risk investigation on the upstream and downstream industrial chains of Cheetah, Zhongtai, Huatai and Lifan. The reason for conducting the investigation is that the media reported that the above four auto companies "will enter bankruptcy proceedings at the end of the year, and it is expected that the industrial chain of upstream and downstream auto parts suppliers will have a total of about 50 billion yuan of bad debts."

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.

So far, the four car companies involved have responded by denying the bankruptcy rumors.

Huatai Automobile was founded in 2000, founder Zhang Xiugen bought Shandong Rongcheng Automobile Factory from FAW Group, renamed Huatai Automobile Co., Ltd., officially opened the road of independent car construction. In 2003, Huatai Motor Co., Ltd. and Hyundai Motor Co., Ltd. launched a Tekala model that was all the rage for a time. At present, Huatai has four vehicle production bases in Rongcheng, Shandong, Ordos, Inner Mongolia, Tianjin and Dandong, Liaoning.

The operating condition of Huatai Automobile is not ideal. The people's Court of Tianjin Binhai New area conducted a property investigation on Huatai Motor in September, according to Yiou. Com. The survey results show that Huatai Motor, which has been established for nearly 20 years, now has only 130000 yuan in bank deposits on its books. Huatai Automobile and several subsidiaries were also listed as executors of bad faith, with a total debt of 29.4 billion yuan.

In addition, Huatai Motor's entire stake in dawning shares has been frozen several times. Huatai Automobile is a major shareholder of Liaoning Shuguang Automobile Group Co., Ltd., with a shareholding ratio of 19.77%.

A number of media have publicly reported that at present, Huatai's automobile research and development department is empty, and four production bases have also been shut down.

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