AutoBeta(AutoBeta.net)07/19 Report--

On July 13, Zhongtai Motor announced the termination of the 6 billion yuan fixed increase project that had been planned for a year, saying that the reason for the termination was the company's decision on various factors. It should be noted that Zhongtai Automobile is planning to change the actual controller, so whether the cancellation of the fixed increase project will affect the change of the actual controller has also become the focus of attention. In this regard, Zhongtai Automobile stressed in the interactive platform that the company's initiative to cancel the fixed increase does not mean that the change of the actual controller should also be cancelled. However, Zhongtai Automobile said in a new announcement that there is still uncertainty about changing the actual controller.

On July 19, Zhongtai Motor announced that the company's stock closed at a deviation of more than 20% for two consecutive trading days on July 17 and July 18. In view of the abnormal fluctuation of the company's stock, the company checks the relevant matters and communicates with the management, the controlling shareholder and the actual controller to explain the relevant situation.

The contents of the announcement show that: 1, after verification, the company has not found that the information disclosed in the previous period needs to be corrected and supplemented; 2, the company has not found that the recent public media has reported or has had a greater impact on the stock trading price of the company. Important information; 3, the company's recent operating conditions are normal, the internal and external business environment has not undergone major changes. 4. The controlling shareholder and the actual controller of the company are planning to change the actual controller of the company, and there is still uncertainty about when and whether the change of the actual controller will be completed. 5. Up to now, the company, the controlling shareholder and the actual controller do not have significant matters about the company that should be disclosed but not disclosed, or are in the planning stage. 6. During the period of abnormal fluctuation of the stock, the controlling shareholder and the actual controller did not take the initiative to buy or sell the company's stock.

It should be noted that the share price of Zhongtai Motor has risen sharply again today. As of 3: 00 Beijing time on July 19, Zhongtai Motor shares closed at 4.36 yuan per share, an increase of 10.10%, with a total market capitalization of 21.986 billion yuan.

Data show that Zhongtai Automobile, formerly known as Huangshan Golden Horse Co., Ltd., established in 1998, was listed on May 19, 2000, and Zhongtai Motor was officially registered and established in September 2003. the production line of the Toyota special model in Taiwan was sold for financial reasons, and Ying Jianren, the controller of the Tieniu Group, finally acquired the production line, together with equipment and moulds, as well as technical workers and managers. Zhongtai holding Group Co., Ltd. was established in the same year.

At the beginning of 2006, Zhongtai Motor obtained the qualification of car manufacturing through Chengdu Xindi Automobile Company, and officially started vehicle manufacturing. In the same year, the first model of Zhongtai, Dazhongtai 2008, was listed, and the new car was quickly recognized by consumers. In 2016, Zhongtai SR9 won 20, 000 orders in just three days on the market, which was also the year when Zhongtai Motor sales peaked, with a total sales of 333100 vehicles. Unfortunately, the days of this kind of prosperity were very short. After that, Zhongtai Automobile sales began to decline sharply, with sales of only 154800 vehicles in 2018 and 116600 in 2019, and almost stagnated due to vehicle production and operation in 2020. A number of subsidiaries of Zhongtai Automobile and its parent company were liquidated. In addition, due to the lack of liquidity, the vehicle manufacturing business of Zhongtai Automobile in 2020 and 2021 is almost at a standstill, and the revenue mainly comes from the sales of auto parts and door industry.

Until October 2022, Zhongtai Automobile resumed production, gradually restored vehicle manufacturing capacity and normal production and operation, and reviewed the development process of Zhongtai Automobile. Although it was not too late for Zhongtai Automobile to enter the automobile manufacturing industry, whether in the field of automotive product design, R & D or manufacturing, Zhongtai Automobile has been deeply cultivated for more than ten years, but the road of its development is not smooth.

Financial data show that Zhongtai Motor's return net profit lost 11.19 billion yuan, 10.801 billion yuan, 706 million yuan and 909 million yuan respectively for four consecutive years from 2019 to 2022, and lost 11.131 billion yuan, 10.648 billion yuan, 2.109 billion yuan and 1.013 billion yuan respectively after deducting non-return net profit. In terms of new car sales, Zhongtai sold 1674, 0 and 502 cars respectively from 2020 to 2022. Up to now, the only product Zhongtai can rely on is its subsidiary Jiangnan Automobile, Jiangnan U2, which was officially launched on February 26 this year. It is the first strategic model based on Jiangnan Automobile J-Smart 1.0 pure electric platform, and it is also the first new car released after Zhongtai Automobile bankruptcy reorganization. A total of six models have been launched, with a price range of 56800-98800 yuan.

On July 13th, Zhongtai issued a forecast of its results for the first half of 2023. According to the financial report, Zhongtai Automobile recorded a net profit loss of 200-300 million yuan, deducting a non-net profit loss of 270 million-370 million yuan, belonging to shareholders of listed companies in the first half of 2023. As for the change in performance, Zhongtai Motors said in an announcement that the company's vehicle business is still recovering in the first half of 2023, and the volume of sales is small, so the overall performance is still at a loss.

From the data analysis, the operation of Zhongtai Motor still showed no obvious signs of improvement in the first half of the year. At present, the controlling shareholders and actual controllers of Zhongtai Automobile are planning the change of the actual controller. Huang Jihong, who will be at the helm of Zhongtai Automobile has become the focus of attention.

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