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  Internal letter from Boxun Automotive CEO: operations cannot be resumed without capital and government support.

  On June 28, Huang Ximing, founder of Boxun Automobile, once again posted an internal letter on WeChat group. In this internal letter, Huang Ximing said that Boxun Automobile is currently in the operation stage of light asset mode, and there is no saleable assets such as land and factories to solve the employees' practical problems. He also apologized for all kinds of difficulties caused to employees due to the company's problems in the past year. At the same time, Huang Ximing said that he tried to cooperate with other manufacturers or newcomers in the industry to recover funds by working with intangible assets such as models, platforms and intellectual property rights built over the past three years, giving priority to employees' social security, provident fund and salary. Huang Ximing also said in the internal letter that there is no external capital note.

  Boxun car 2020-06-29
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  This car-building company will be out! CEO said frankly that being acquired is the only way to save himself.

  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...

  Boxun car 2020-06-12
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  Trading of 1 billion yuan of bonds defaulted was suspended, brilliance Group responded

  After Lifan Motor and Zhongtai Automobile, brilliance Group has also received extensive attention because of its financial problems. Brilliance Automotive Group Holdings Limited (hereinafter referred to as "brilliance Group") responded to the default of 1 billion of its bonds on October 26, saying that "there are indeed temporary funding difficulties, so it is unable to repay maturing bonds on schedule." the group is actively working on solutions, and it is believed that brilliance will actively and properly solve the bond problem. " On October 23, brilliance Group failed to pay 1 billion yuan of private equity bonds "17 Huaqi 05" on schedule, resulting in a substantial default. According to the relevant rules, brilliance Group is currently deposited.

  Brilliance Group 2020-10-26
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  Brilliance Automobile Group is in crisis because of debt problems.

  Brilliance Automobile Group, once a well-known independent car company, is now in trouble because of its huge debt. Brilliance auto funding crisis broke out as a result of failing to repay maturing bonds on schedule. On November 2, the Shanghai Stock Exchange issued a notice giving a written warning to brilliance. According to media reports, the Liaoning provincial government is said to be considering promoting judicial restructuring of brilliance Automobile Group. Brilliance Automobile Group confirmed in an announcement that the 1 billion yuan private bond "17 Huaqi 05" could not be repaid on schedule. Brilliance was supposed to pay 1 billion of the principal of 17 Huaqi 05 before 16:00 on October 21.

  Brilliance car 2020-11-03
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  The property of the centennial car company has been disposed of!

  On September 18, the official website of Beijing property Exchange issued a notice on the disposal of property in bankruptcy liquidation of Baowo Automobile (China) Co., Ltd. (hereinafter referred to as "Bowo China"). The contents of the announcement show that on August 4, 2023, the Beijing No. 1 Intermediate people's Court ruled to declare Bowo China bankrupt, and the administrator was responsible for Bowo China property in accordance with the law.

  China property announcement administrator Beijing management people's court patent exchange property right people law company content method 2023-09-18
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  Bowo is about to change ownership! Shenzhou Youche plans to acquire a 67% stake in Bowo Automobile with 4.1 billion yuan.

  Shenzhou Youche announced that it intends to transfer the 67 per cent stake in Baowo Motor held by Changsheng Xingye at a transfer price of 4.10911 billion yuan. Upon completion of the transaction, the company will take a controlling stake in Bowo Motor. This also makes the capital acquisition rumors of both sides finally settled. Regarding Changsheng Xingye's stake in Bowo, Lu Zhengyao, chairman and CEO of China excellent car, said in an interview earlier: "Changshengxingye is a company owned by my classmate Wang Baiyin. Shenzhou Youche supports Changsheng Xingye to take a stake in Bowo." Shenzhou excellent car only wants to form a deep strategic cooperative relationship with Bowo as a platform. At this point of time, Shenzhou excellent car is not suitable to talk to Bao Wo.

  Car Bauer. 2019-03-19
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  The company has serious operational difficulties, and the internal letter of the new domestic brand Boxun Automobile has been exposed.

  Boxun Automobile, which established a joint venture with FAW Xiali and obtained production qualification, encountered serious operational difficulties. Huang Ximing, founder of Boxun Automobile, said in a letter on June 13 that due to the actual losses and adverse effects caused by the company's operating problems to all parties, it will strive to lead Boxun Motor out of its predicament.

  Boxun Automobile FAW Xiali 2020-06-14
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  Brilliance Automobile Group filed for bankruptcy restructuring after huge debts

  On November 13, the National Enterprise bankruptcy reorganization Information Network released that Gezhi Automotive Technology Co., Ltd. applied to the Intermediate people's Court of Shenyang City, Liaoning Province for the reorganization of brilliance Automobile Group holding Co., Ltd. the case number is (2020) Liao 01 Breaking Shen 27. According to Tianyan inspection information, Gezhi Technology is an automotive stamping die developer, engaged in the design, research, development, manufacture and sales of automotive stamping moulds. It mainly provides customized services for automotive stamping dies for automotive manufacturers and parts manufacturers around the world. Brilliance Automobile Group is all too familiar with China, Golden Cup, Huasong and brilliance BMW.

  Brilliance car 2020-11-14
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  From now on, all the staff are waiting for duty, and the financial crisis of independent brand Boxun Automobile

  On June 15, the new power car brand Bojun Motor issued a notice to its employees. Due to practical problems, the company decided to wait for duty from now on.

  Employees of Boxian County are waiting for duty FAW Xiali 2020-06-16
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  Zhengtong Motors, a former luxury car dealer, expects to lose 8 billion in 2020.

  Zhengtong Motor issued a profit warning on March 28th, predicting a loss of 8 billion yuan to 9 billion yuan in 2020. Zhengtong said that the loss was mainly due to (1) the impact of the epidemic in the first half of 2020 and the increasing pressure on the Group's liquidity position led to a continuous decline in the group's financial performance in the second half of this year; (2) this situation led to a significant decline in the performance indicators in the dealer agreement between the group and automobile manufacturers, resulting in the termination or suspension of some dealer authorizations, and the withdrawal and revocation of some supplier rebate rights. A number of distributor authorizations have been terminated or suspended and the group has treated some of its underperforming 4S vendors.

  Straight-through car 2021-03-29
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  Yu Chengdong big praise boundary M5: drive 1400 kilometers with only a little fuel

  Yu Chengdong, managing director of Huawei, consumer business CEO and smart car solution BU CEO, praised the battery life of the AITO M5 on Weibo on Feb. 8. He said that the endurance of the AITO M5 is really strong, driving 1400 kilometers one way from his hometown in Anhui to Shenzhen, and completing the journey with only a little fuel at the highway service station. In addition, Yu Chengdong also praised the comfort configuration of the M5, seat massage, driving assistance and other functions to greatly alleviate long-distance fatigue. On December 23, 2021, Huawei and Dongfeng Xiaokang jointly played at Huawei's flagship winter product launch.

  Huawei Cyrus 2022-02-09
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  exceeding one's expectations! The final price of the M5 is 200 yuan cheaper.

  The price of Huawei's car has been announced, but it is more or less disappointing. On February 25th, the AITO car official announced that the M5 officially launched three new models, including the subsidized retail price of the standard rear drive version of 249800 yuan, the retail price of the four-wheel drive performance version of 279800 yuan, and the flagship version of the four-wheel drive version of 319800 yuan. It is understood that the M5, the first model of AITO, a high-end car brand jointly operated by Chongqing Jinkangselis and Huawei, was officially unveiled at Huawei's flagship winter product launch on December 23, 2021, when it was announced that the pre-price range was 25-320000 yuan.

  Huawei ask the boundary M5 2022-02-25
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  The more well-off cars are built, the more they lose money!

  In April 2021, Xiaokang shares announced a partnership with Huawei to build cars. The share price of Xiaokang shares soared from more than 22 yuan before the announcement to about 79 yuan, nearly tripling until the release of the new brand M5. According to the official release of M5 on December 23, the Huawei car-building concept did not make the share price of well-off rise further, but became the beginning of a series of falls in the share price of well-off shares. As of the Spring Festival holiday, the share price of well-off shares was 45.81 yuan per share, with a cumulative decline of nearly 40% compared with its peak in just over a month. It seems that Huawei's car-building concept is not the only positive direction.

  Financial report of well-off shares 2022-01-31
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  To solve the problem of inter-industry competition, FAW cars and FAW shares are exchanged for assets.

  The problem of peer competition between FAW car and FAW Xiali is expected to be alleviated. A few days ago, FAW car Co., Ltd. issued an announcement that according to the overall strategic layout of FAW cars and the need for major asset restructuring with China first Automobile Co., Ltd., FAW car plans to set up a wholly-owned subsidiary with its own capital of 50 million yuan, and the name of the company is tentatively designated as FAW Pentium car Co., Ltd. FAW Pentium sedan Co., Ltd., established by the latter, will undertake restructuring and purchase assets, FAW sedans purchase passenger car business, and at the same time place FAW liberation assets owned by major shareholders to achieve asset swap. FAW car.

  2019-06-25
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  FAW car transfers two assets, annual profit is expected to increase by 105 million yuan

  On December 11, FAW car issued two announcements in succession, showing that the company will hold assets located in Jingkai District of Changchun City for public listing and transfer at a listing price of 65 million yuan, and the transferee is Changchun Zhisheng stamping Die Co., Ltd. the final transaction is 81.2 million yuan, and the transaction is expected to increase the company's profit by 57 million yuan in 2019. Another announcement shows that the company plans to dispose of the property and transfer it to FAW Asset Management Co., Ltd. (FAW assets) at 75.0481 million yuan. The transaction is expected to increase the company's profit by 48 million yuan in 2019. The two deals are expected to increase the company by 20.

  FAW car 2019-12-12
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  FAW car major assets reorganization plan has been approved by SASAC of the State Council.

  FAW car Co., Ltd. issued a notice today, saying that major asset restructuring issues have been approved by the SASAC of the State Council, and agree in principle to the company's overall plan for asset restructuring and supporting financing. FAW car restructuring proposed to buy assets FAW Jiefang 100% equity, the transaction price of 27 billion yuan. According to the announcement, the State-owned assets Supervision and Administration Commission of the State Council recently received a "reply on issues related to asset restructuring and supporting financing of FAW car Co., Ltd." transferred by China first Automobile Group Co., Ltd. agreed in principle to the company's overall plan for asset restructuring and supporting financing. In addition, the announcement is also.

  FAW car asset reorganization plan approved by SASAC 2019-09-27
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  Another established car company is unable to sustain and plans to withdraw from the automobile market by selling assets.

  On September 17, Tianjin FAW Xiali Automobile Co., Ltd. (hereinafter referred to as "FAW Xiali") issued the report on the sale of major assets and the issuance of shares to purchase assets and raise supporting funds and related party transactions. According to the report, the overall plan of the transaction includes four parts: free transfer of shares of listed companies, sale of major assets, issuance of shares to purchase assets and raising supporting funds. According to the report, FAW car Co., Ltd. plans to transfer its 697620651 shares of FAW Xiali to China Railway Materials Co., Ltd. In addition, FAW Xiali plans to sell its holdings except Xin'an Insurance 17.5.

  FAW Xiali 2020-09-18
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  Something's going to happen! Bowo's auto assets were seized by the court

  "good is expensive, expensive is good", Bowo car thunderstorm again! Last night, Chinese commercial vehicle brand Foton Motors issued a notice saying that due to the inability to repay suppliers and other creditors, the relevant creditors applied to seal up Beijing Baowo related assets, involving an amount of about 124 million yuan. The book value of the seized property is 2.209 billion yuan, including machinery and equipment, transport equipment, office equipment, IT equipment, tooling moulds, other equipment, projects under construction and inventory. The assets of Beijing Baowo seized this time do not belong to Futian, nor are they related assets that Beijing Baowo uses assets to repay debts. Fukuda made it clear that the assets seized this time.

  Bowo car 2021-12-10
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  The restructuring of FAW cars has been settled, and FAW Pentium has become a wholly owned subsidiary of FAW.

  On March 25th, FAW car announced that, on March 12, the company received the approval of FAW car Co., Ltd. major asset restructuring and the issuance of shares to China first Automobile Co., Ltd. to purchase assets (Securities Regulatory license [2020] No. 352), approved the transaction. After receiving the approval documents of the CSRC, the listed companies actively carry out the transfer of the underlying assets, and as of the date of this announcement, the industrial and commercial change registration procedures for the placed assets and the purchased assets involved in this transaction have been completed. According to the previous restructuring plan, FAW cars will have the exception of FAW.

  FAW cars FAW shares 2020-03-26
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  Be sued! The German car company's assets in Russia have been frozen.

  On March 20, foreign media reported that all Volkswagen assets in Russia had been frozen. Reported that a court in the Russian region of Nizhny Novgorod seized all the assets of Volkswagen Group in Russia because the Gorky Automobile Factory (hereinafter referred to as GAZ) asked it to claim more than 155 billion rubles. Data show

  Volkswagen Russia Automotive Group Volkswagen Factory Volkswagen Group Brand Asset production Market Company Kalu Nizhny Novgorod Investment 2023-03-21