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The situation is endangered! A new force of car building is in danger again.

2024-03-04 Update From: AutoBeta autobeta NAV: AutoBeta > News >


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Recently, it has just been reported that the Aichi car, which has just returned to work, is in danger again. According to Tianyan check information, Aichi Automobile Co., Ltd. added a piece of information about the person subject to execution, with more than 18.33 million yuan in the subject matter of execution. The applicant is Jiangling Holdings Co., Ltd., and the execution court is the Nanchang County people's Court.


It is worth noting that after entering 2023, Aichi is in crisis. Because of the shortage of funds, Aichi continues to be reported to be in arrears of wages, social security, headquarters building evacuation and other negative news. Relevant data show that Aichi Automobile Co., Ltd. was established in February 2017. previously, it was Jiangxi Aichi Yiwei Industrial Co., Ltd., which was one of the earliest established new brands in China. Founder Fu Qiang has rich experience in the automotive industry and served as the head of Skoda Division of Shanghai Volkswagen, Executive Vice President of Beijing Mercedes-Benz sales and Marketing, President and CEO of Volvo Automobile China sales Co., Ltd. Because of the industry background of the founding team, Aichi was favored by many people in the industry at the beginning of its establishment.


Aichi U5, the first model of Aichi car, was put on the market in December 2019. However, due to the low product awareness and single product matrix, the sales volume of this model is not ideal. To this end, Aichi began to turn to overseas markets, but sales are still mediocre. Relevant data show that: from May 2020 to the end of 2022, Aichi accumulated overseas sales of 6264 vehicles. Aichi launched its second model, the Aichi U6, in April 2021, hoping to reverse the sluggish sales. However, the launch of the Aichi U6 also did not bring an increase in sales to Aichi. Statistics show that Aichi sold 2600 vehicles in 2020, 3011 in 2021 and 753 in 2022.


If the sales are not good, the financial situation is naturally not ideal. According to the data, Aichi's operating income in 2018 was 33.19 million yuan, with a net loss of 970 million yuan. On March 31, 2019, the total liability of the company was 2.407 billion yuan, and the asset-liability ratio reached 97.5%. Financial difficulties also make Aichi's sense of presence in the market getting lower and lower. In 2021, Aichi Automobile was reported to have negative news such as a pay cut, cancellation of year-end bonus and arrears to suppliers, and in November of the same year, it was reported that the payment of employees' wages had been postponed again. In January 2022, a financing of hundreds of millions of dollars provided timely assistance to Aichi Automobile.

It is understood that the financing comes from Chen Xuanlin, chairman of Guangwei Holdings Co., Ltd., and his Dongbai Group. With the injection of new funds, the core management team of Aichi has also ushered in a change. Chen Xuanlin is chairman of Aichi, Zhang Yang is CEO, and former founder Fu Qiang is president of the company. Fu Qiang once said, "Chen Xuanlin has many years of experience in automobile investment and operation management, and the arrival of the new team will give Aichi new development momentum and business prospects." effectively enhance the company's market channels, capital operation, user experience and digital development and other capabilities. "


Last September, Huaxia Burson, a Nasdaq-listed education and training company, announced that it had reached a non-binding cooperation intention with Aichi's operating company to acquire all the outstanding shares of Aichi. Under the proposed terms of the letter of intent, the acquisition values all shares in Aichi at a total value of $5 billion to $6 billion. The news also means that Aichi will be listed in U. S. stocks through reverse backdoor. However, the good times will not last long. In November 2022, a fund company announcement showed that "due to Chen Xuanlin's personal reasons, there was uncertainty in the operation and management of the financiers, and the principal and interest of some products were not paid on schedule." Subsequently, Chen Xuanlin stepped down as Aichi's legal representative and chairman, and Zhang Yang, the former CEO, took over as chairman, and the road to Aichi's backdoor listing came to an end.


There is no doubt that Chen Xuanlin left office, making Aichi Motor once again into a business crisis. On June 27, there was a letter entitled "call for Justice!" The contents of the letter of nearly 2000 families asking for a collective salary from Aiqi car have been circulated on the Internet. According to the picture, nearly 2000 Aichi employees said that their wages had been in arrears for more than three months. I hope Aichi Automobile will bear its due responsibilities. make a good time plan for part of the salary, provide transparent communication channels and guarantee the full payment of the salary. At that time, Aichi had not made any response to the news. In fact, in April this year, it was reported that Aichi was in arrears and delayed payment of wages.

On July 20, the content of a notice on the establishment of an interim working group on shareholder governance was reported on the Internet. According to the picture, Aichi Motor will set up a temporary working group on shareholder governance to be responsible for the operation and management of the company. In addition, Aichi officials are also issuing a "notice on the appointment of the company's CEO and financial director." Zhu Xiaohua was appointed CEO of the company, responsible for the daily operation and management of the company, and Tang Meiyu was appointed as the chief financial officer of the company, responsible for the financial management of the company. The news is also seen by the outside world as the news of Aichi's resumption of work and production.


Just had the good news, this time was reported to be executed more than 18.33 million yuan, for Aichi car, the prospect is still fraught with difficulties. Entering 2023, the new forces of car building are also facing a new round of reshuffle, and the car knockout round has already begun. With the rise of the price war, it will also accelerate the elimination of some new car-building brands with small sales and tight capital chain. In addition, many new car-building forces and traditional car companies have also opened strategic cooperation, which will speed up the reshuffle of new car-building forces to a certain extent, leaving little time for new second-line car-building forces. In this context, for Aichi, it is still on the verge of being eliminated.

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