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Another lawsuit? Ten million shares in Weimar have been frozen.

2024-03-03 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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According to the website of the National Enterprise Credit Information publicity system, Hubei Xinghui New Energy Intelligent Automobile Co., Ltd. added new equity freeze information on July 28, and the person to be executed was Weima Automotive Technology Group Co., Ltd., which froze about 19.6762 million RMB. The freeze period is from July 28, 2023 to July 27, 2026.

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Tianyan related cases show that the case involves Zhejiang Lihua Group Co., Ltd. and a number of Weima companies related to sales contract disputes, the case will be heard on September 1.

According to the data, Hubei Xinghui New Energy Intelligent Automobile Co., Ltd. was established in April 2017. the legal representative is Shen Hui, founder, chairman and CEO of Weima Automobile, with a registered capital of 6 billion yuan. business scope includes new energy smart cars, vehicle and related parts manufacturing, sales, after-sales service and so on. The company is wholly owned by Weima Automotive Technology Group Co., Ltd.

Weima Automobile is one of the first brands of "New Power of car Building" in China, which not only has the qualification of vehicle production, but also builds its own factory. Compared with the current mainstream "Wei Xiaoli", it can be said that Weima has strong teachers, but today's Weima is not easy. Since the beginning of the year, Weimar has been mired in negative news such as suspension of pay, factory shutdowns, store closures, arrears of rent and property fees in the headquarters building, after-sales stagnation, and even access to Mini Program for car purchases. The industry believes that Weimar's tight capital chain is behind a series of negative news. As of March 31, 2022, Weima's remaining cash and cash equivalents were 3.678 billion yuan.

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Despite the negative news, Weimar and Weimar CEO Shen Hui continue to release "good news". "everything is for the better!" Shen Hui said on his personal Weibo on May 4. Since then, it has also said many times that it is stepping up efforts to resume work and production.

At present, Weima Motor was last updated on Weibo on July 25, and Weima released a message of "ready to go", along with a number of photos of the new car in front of the freighter. Although the official destination of the vehicle was not announced, the picture message showed the word "NYK LINE" (Japan Shipping Co., Ltd.). On the same day, Shen Hui also retweeted the official Weibo of Weimar with the caption "Let's go and see the sea!" Joy is revealed in the words, which seems to send a message to people that there are signs of improvement in Weima.

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But the seemingly favorable Weimar still faces a lot of chicken feathers. Tianyan check information shows that at present, Weima Automotive Technology Group Co., Ltd. has a number of information about the person subject to execution, with a total amount of more than 10 million yuan. Of course, Weimar is not the only new power car company that suffered an operational crisis this year. Weima's dilemma also reflects the cruel situation that the new second-tier car-making companies are on the verge of bankruptcy and elimination. With the reform of the automobile industry and the intensification of market competition, since 2023, new second-line car-making companies have been exposed to face varying degrees of operational difficulties. Among them, Skyline stop production, employees will pay living expenses according to the minimum wage; Aichi delayed the payment of wages, headquarters returned the lease; Reading filed for bankruptcy; Singularity was filed for bankruptcy review; Baiteng Motor also entered the bankruptcy liquidation process.

We have no way to know how Weima will go in the future, but the highlight moment of Weima is gone forever. Weima, which "lives like an animal", in addition to financial constraints, its products are not competitive in the car market and face a number of lawsuits are also problems that Weima Motor urgently needs to solve. This year is destined to be a year of accelerated reshuffle for car manufacturers. It may only be a matter of time before car companies can come up with products that can be eliminated.

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