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With continuous losses, Lifan shares are mired in a debt crisis. On July 10, Lifan shares announced that 10 wholly-owned subsidiaries were applied to the court for judicial restructuring by creditors because they were unable to pay off their maturing debts, and the company would risk being declared bankrupt due to the failure of the restructuring. In a notice on creditors applying to the court for judicial restructuring of the company's wholly-owned subsidiaries, Lifan shares revealed that 10 of the company's subsidiaries had been applied for judicial restructuring by creditors because they were unable to pay off their maturing debts. The companies that have been applied to the court for judicial reorganization by creditors include Lifan passenger cars, Lifan automobile sales, Lifan import and export company, Lifan motorcycle hair.
Yesterday, Fortune magazine released its 2019 list of the world's top 500. According to the list, the total number of Chinese companies on the list this year is 129, surpassing the United States (121) for the first time. In terms of carmakers and parts suppliers, there are 33 companies on the list this year, including 23 vehicles and 10 parts. It includes six Chinese car companies, six Japanese car companies, three German car companies, two American car companies, two Korean car companies, two French car companies, one Indian car company and one Swedish car company. Among them, this year, 1 company in the overall ranking is the same as last year, 7 rose, the remaining 25 companies ranked.
For some reasons, some domestic car companies have long implemented the rule that "employees must drive company-branded vehicles before they can park in the internal parking lot", which is mainly focused on independent car companies, but now some first-line joint venture car companies have also issued relevant regulations. gradually join the ranks of "banning other brand vehicles". It is reported that a first-line joint venture car company will implement the new rules for the use of employee parking lots, and employees who buy or update new vehicles in the future can only park in the employee parking lot if they choose our brand vehicles. The internal notice was exposed on a post called the company's name, which also showed that the rule would be officially implemented on October 1, 2020.
According to the news released by Dongfeng Toutiao under Dongfeng's media platform, Dongfeng passenger vehicle Company and Dongfeng Commercial vehicle Co., Ltd. released two major personnel changes. On February 6, Dongfeng passenger car and Dongfeng commercial vehicle respectively held a cadre meeting to announce that the party committee of Dongfeng Company transferred the members of the leading group of Dongfeng passenger vehicle and Dongfeng commercial vehicle.
As sales continue to decline and the auto industry enters the life-and-death knockout round, many industry insiders predict that 50% of China's car companies will collapse. In 2019, car companies and automobile suppliers have business difficulties one after another, losses have become the mainstream, and news of stopping production and unpaid wages emerge one after another. Traditional automobile companies sell land and sell qualifications, and even enter a difficult time of merger and reorganization. For car companies, the sharp decline in sales is currently facing the most serious thing, the lost share is very difficult to get back, a little inadvertently will be eliminated by the market. According to the ranking of car companies based on the passenger car data of the Federation of passengers in October, 65% of the car companies' sales fell, nearly 30%.
On October 23rd, * ST issued an announcement on the Shanghai Stock Exchange's response to the post-review inquiry letter of the 2019 semi-annual report, revealing the current operating condition of the group and the reasons for the decline in the company's gravity. In response to the company's continued decline in rebate receivables, * ST said it was mainly due to the continued decline in vehicle purchases and sales and the decline in the number of stores licensed by the brand. In addition, the purchase and sales of vehicles of all brands of the company have declined, and the decline in the number of vehicle purchases and sales as well as the decline of vehicle business has led to a continuous decline in the number of stores authorized by the brand. Shut down and transfer part of the store by the company.
Huang Ximing said that "Bo County will not go any further" at an internal meeting recently, according to media reports citing people familiar with the matter. it also said it would make an acquisition of a new company led by Zhang Chang, director of human resources. Huang Ximing will no longer hold the position of CEO and chairman of Nanjing Boxun, according to people familiar with the matter. Zhang Chang, director of human resources, led the establishment of a new company for acquisition, saying that "the new company is the only way to save oneself at present." As for the relationship between the new company and the old company (Boxun Motor), Boxun explained that the new company will buy the old company, including people, data, and...
The internal email of Baiteng Automobile informs all employees in China that the company will stop work and production from July 1, all employees will be waiting for duty, and the company will no longer arrange work.
According to the incomplete statistics of "Automotive Industry concern", more than 40 auto companies announced personnel changes in 2022, a total of more than 130 jobs were adjusted, involving more than 120 senior executives. Especially since June 2022, the executives of automobile companies have changed frequently, especially the "Wei Xiaoli" of the new power.
Today, Toyota announced a joint venture with Panasonic to form a new battery company and signed a business merger contract and a joint venture contract to supply batteries to Mazda, Dafa Motor and Subaru in the future. In fact, the joint venture to build a new battery company is not only Toyota, at present, including Tesla, Volkswagen, Daimler and other international giants to participate in the new battery factory plan. On February 3, Toyota Motor Company and Panasonic Industrial Co., Ltd. signed a business merger contract and a joint venture contract for the establishment of a new car square battery company, and then actively promoted the relevant preparations for the establishment of the joint venture company.
Fortune is the most influential magazine in the economic circle, and its global top 500 ranking list has always been the focus of economic circles. On August 10, Fortune officially released its annual Fortune 500 list, with a total of 24 car companies going to work, of which Chinese companies account for seven.
After Guanxuan stopped producing fuel cars, BYD once again issued a major announcement: it plans to buy back the shares of the company with its own funds of no more than 1.85 billion yuan and no less than 1.8 billion yuan for the employee stock ownership plan, and the participating employees only need to complete the performance appraisal. You can get the company stock for free. As of the latest close, BYD closed at 235.4 yuan per share, with a total market capitalization of 634.6 billion yuan, ranking first among domestic auto companies. According to the announcement, the participants of the employee stock ownership plan include the company's employee supervisors Wang Zhen, Tang Mei and senior managers Li Ke, Lian Yubo, he long, Liu Huanming, Luo Hongbin, Wang Chuanfang, Ren Lin, Wang Jie, he Zhiqi and Zhou Yalin.
On July 21, Aichi issued a notice on the appointment of the company's CEO and CFO. Aichi Automobile said that Zhu Xiaohua was appointed as the CEO of the company, responsible for the daily operation and management of the company, with the appointment date from July 18, 2023, and Tang Meiyu was appointed as the company's financial director, responsible for the company's wealth.
On May 19th, * ST issued an announcement that Giant Automobile Trade Group Co., Ltd. (hereinafter referred to as "Giant Group") received the announcement of the second Department of Management of listed companies of the Shanghai Stock Exchange (hereinafter referred to as "Shanghai Stock Exchange") on the repurchase of shares of Giant Automobile Trade Group Co., Ltd.
On the evening of November 8, Zhongtai Motors announced that Zhongtai Motor had received a letter from the controlling shareholder Tieniu Group that the shares of the company held by Tieniu Group had been judicially frozen. According to the contents of the announcement, due to contract disputes, Tieniu Group's shares held by the company were judicially frozen, and the frozen state was preserved by litigation, with a total of 487 million shares frozen for a period of three years. It is worth noting that of the above-mentioned frozen shares, 417 million shares are waiting for the freeze, and the judicial freeze is carried out by the Yongkang City people's Court. As of the date of announcement, Tieniu Group held a total of 786 million shares, accounting for 38.78% of the company's total share capital.
With the recent disclosure of 2019 financial results by various car companies, due to the impact of two consecutive years of decline in the car market, 2019 still shows a situation of falling more than rising less, and the net profits of most car companies have declined to varying degrees.
is now the domestic automobile market accelerating changes in the market environment, so that many marginal car companies feel difficult. A few days ago, Lifan shares issued a notice that the company received a "notice" served by the court. Jiali, the creditor, applied to the court to restructure the company on the grounds that the company was unable to repay its due debts and obviously lacked solvency, but still had the value of restructuring.
According to the latest data from automotive industry data forecasting company AutoForecast Solutions (AFS), by the end of October, due to chip shortage, the global auto market has reduced production by about 3.905 million vehicles this year, and is expected to climb to 4.2785 million by the end of the year.
On the evening of August 6, Lifan shares announced that the controlling shareholder, Chongqing Lifan Holdings Co., Ltd. (hereinafter referred to as "Lifan Holdings"), on the grounds that it was unable to pay off its maturing debts and its assets were insufficient to pay off all its debts, apply to the Fifth Intermediate people's Court of Chongqing (hereinafter referred to as "the Court") for judicial reorganization. At present, Lifan Holdings has submitted an application for restructuring to the court, which may have an impact on the company's ownership structure. According to the announcement, Lifan Holdings has been facing debt risks since 2017. although it has tried its best to formulate relevant plans and resolve related problems through a variety of ways, it still cannot completely get rid of its liquidity crisis.
The cold winter of the automobile industry is coming, sales continue to decline, car companies and suppliers have business difficulties one after another, suspension of production arrears of wages, bankruptcy news emerge one after another. In this environment, Fu Yuwu, honorary chairman of the Society of Automotive Engineering, believes that the automotive industry has not yet hit rock bottom, and the situation next year is not optimistic. I hope that car companies can make preparations as early as possible. Fu Wu said that the economic transformation has brought a lot of pressure, and for car companies, the knockout stage has already begun. In the absence of subsidies in the future, it is only a matter of time before some car companies are marginalized and out. He believes that no matter how big the Chinese market is, there is no room for hundreds of vehicle factories, whether independent, joint venture or foreign-funded cars.
Heavy! The National Development and Reform Commission plans to relax car purchase restrictions and increase license plate indicators in an all-round way
China's car sales continue to decline and the trend of car consumption is gradually declining. in such an environment, the National Development and Reform Commission is expected to guide further liberalization of the purchase restriction policy and comprehensively encourage automobile consumption. According to the online documents, the National Development and Reform Commission issued the implementation Plan for promoting the Renewal of consumption of Automobile, Home Appliances and Consumer Electronics to promote the Development of Circular economy (2019-2020), which plans to further expand the consumer market such as automobiles, promote the development of circular economy, and deepen supply-side structural reform. The document also describes in detail the specific implementation plan, and there are nine supporting regulations in the automotive field. The most important of these is the purchase restriction city.
2019-04-17 17:36:07Details
All of a sudden! A Tesla in Dongguan was suspected of getting out of control and crashed into multiple cars and destroyed the shop door.
A # Tesla suspected of getting out of control and crashing into multiple cars crashed into the store door # news quickly rushed to the hot search list of Weibo. According to electric shock news and other media reports, on March 4, a Tesla was suspected to be out of control in a traffic accident in Chigang, Humen, Dongguan, Guangdong. After crashing into a BMW, he crushed a Toyota under the car and ended up with a shop facing the street.
2023-03-04 16:56:32Details
The latest delivery list of new forces, Wei Xiaoli dropped by double digits compared with the previous month.
On August 1, the new power brands NIO, Xiaopeng, ideal, Nezha and Zero announced the latest monthly delivery results. According to the ranking of the "Tramway report", the delivery volume of mainstream new power brands was more than 10,000 in July, of which the best performance was Nashi, with 14036 cars, followed by zero-running cars.
2022-08-02 10:28:37Details
Another independent brand was born. Hanlong's first model is "domestic range Rover"?
The Zhongtai version of the "domestic range Rover" has been published for nearly two years since the real car was exposed, and there has been no news of mass production and listing. Now the car has finally been officially unveiled, but it will not be launched as the infamous Zhongtai Motors. It belongs to the new brand "Hanlong Automobile". Hubei Daye Hanlong Automobile Co., Ltd. was established in January 2016 and is headquartered in Daye City, Hubei Province, according to official data. It is a modern new energy automobile parts manufacturing enterprise integrating new energy vehicle design, development, manufacturing, sales and after-sales service. it is also a professional system of automobile engine products, spare parts supporting system products and automobile maintenance.
2019-08-29 11:29:05Details
Deadlock! Volkswagen may face mass strike
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