AutoBeta(AutoBeta.net)11/08 Report--

"Automobile Industry Concern" learned from Tianyan information, November 4, Reading Automobile Group Co., Ltd.(hereinafter referred to as "Reading Automobile") added a new information of the person subject to execution, the execution target 992728 yuan, the execution court is Hefei High-tech Industrial Development Zone People's Court; On November 6, Reading Automobile added another information of the person subject to execution, the execution target 34894432.0 yuan, and the execution court was Laoshan District People's Court of Qingdao City.

In addition, Shandong Bidwen Power Technology Co., Ltd., a subsidiary of Reading Automobile, has also been executed successively. "On November 4, Shandong Bidewen Power Technology Co., Ltd. added a piece of information of the person subjected to execution, with the execution object of RMB 348,900 Yuan, and the execution court was Qingdao City Laoshan District People's Court;" On November 6, Shandong Bidewen Power Technology Co., Ltd. added a piece of information of the person subjected to execution, with the execution object of RMB 55 million Yuan, involving financial loan contract dispute, and the execution court was Weifang City Kuiwen District People's Court."

According to public information, Redding Automobile Group Co., Ltd. was established in October 2012 with a registered capital of RMB 100 million. Its legal representative is Wang Dejin. It is an enterprise mainly engaged in automobile manufacturing industry and wholly owned by Bidwen Holding Group Co., Ltd. According to the risk information checked by Sky Eye, there are many pieces of information about the person subjected to execution in Reading Automobile Group Co., Ltd. By the time of publication, the accumulated total executed amount of Reading Automobile is RMB 132,891,862 million yuan. At the same time, the company also has a number of consumption restriction orders, dishonest executee (Laolai) and final case information.

As for Shandong Bidwen Power Technology Co., Ltd., it is a subsidiary of Redding Automobile. Founded in May 2007, the company has a registered capital of RMB 10 million and its legal representative is Wang Dejin. It is an enterprise mainly engaged in automobile manufacturing industry and wholly owned by Redding Automobile Group Co., Ltd. Like Redding Automobile, the company also has a number of information about the person to be executed. By the time of publication, the accumulated total executed amount of Shandong Bidewen Power Technology Co., Ltd. is RMB 226,644,249 million yuan.

Now the situation of Reading Automobile is at stake. From the beginning of the year when the capital chain was broken, bankruptcy was applied for, founder Li Guoxin settled overseas, and now it has been listed as a discredited executor and frozen equity and other negative news, Reading Automobile has come to an end. Of course, to the end of today, the sad exit of Reading Automobile is not surprising. Under the premise that the product has cost performance and leading technology is not available, perhaps the fate of Reading Automobile has already been doomed.

In fact, not only Redding Automobile, but with the rapid development of new energy automobile market, automobile industry has entered the elimination mode of survival of the fittest. Since 2023, many new forces of second-tier automobile manufacturing have fallen into bankruptcy or business crisis, such as production base no takeover, bankruptcy and so on.

Tesla CEO Elon Musk has said that he predicts that the economy will be in a downturn in the next 12 months and many companies will go bankrupt; Chang 'an Chairman Zhu Huarong also bluntly said that 60%-70% of brands are conservatively expected to face shutdown and rotation in the next 2-3 years. In addition, Cui Dongshu, secretary-general of the association, also said that this year's complex market situation may accelerate the elimination of some weak brands with small sales volume and tight capital chain to a certain extent.

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