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Weima Automobile was executed for more than 80.49 million yuan.

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

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According to the China Executive Information Network, Weima Automotive Technology Group Co., Ltd. added four pieces of information about the person subject to execution, totaling more than 80.49 million yuan. The executees also include Weima New Energy vehicle sales (Shanghai) Co., Ltd., Hui Ma Zhongou Automotive Technology Chengdu Co., Ltd., which involve sales contract disputes and transportation contract disputes. The enforcement courts are the Shanghai Qingpu District people's Court and the Shanghai Fengxian District people's Court.

Weima Automotive Technology Group Co., Ltd. is the operating entity company of Weima Automobile, which was established in May 2012 and is wholly owned by Suzhou Weimar Wisdom Travel Technology Co., Ltd. the legal representative and chairman is Shen Hui, former vice president of Geely Holdings Group, senior vice president of Volvo and chairman of Volvo China. According to the "Heavenly Eye Survey", Weima Automotive Technology Group Co., Ltd. has more than 30 pieces of information about the person subject to execution, with a total amount of more than 120 million yuan. In addition, the company also has a number of equity freezes, restrictions on consumption orders, breach of faith and final capital case information.

On October 9, according to the National Enterprise bankruptcy reorganization Information Network, Weima Automotive Technology Group Co., Ltd. applied for bankruptcy reorganization, and the handling court was the Shanghai No. 3 Intermediate people's Court. The next day, Weimar responded that the company had not filed for bankruptcy, but was undergoing a pre-restructuring in an attempt to introduce strategic investors through debt restructuring. It is understood that pre-reorganization means that before the debt enterprise enters the legal reorganization procedure, creditors negotiate with debtors, investors, and other interested parties on creditor's rights and debts and reach a draft reorganization plan, so as to save debt crisis enterprises.

I have to admit, in terms of the current situation of Weimar, it is not clear whether Weimar can be pulled out of the mud.

On September 11, Kaixin announced that it had signed a non-binding list of acquisition terms with Weimar and planned to issue a certain number of new shares to acquire the 100% stake in Weimar held by its existing shareholders. From the industry's point of view, since Happy Motor is a US stock listed company, Weima Motors may turn to the US capital market after many fruitless attempts to list IPO, but this is undoubtedly drinking poison to quench thirst. Happy Automobile will acquire 100% stake in Weimar Motor held by its existing shareholders, which means Weimar will lose its dominant right. After Happy Motor released the relevant news, various official channels of Weima did not synchronize the news, did not wait for the latest progress of cooperation between the two sides, but waited for the pre-restructuring of Weimar.

Before that, Weimar has been trying to save itself, but it has been in trouble for a long time, and the hope of restarting the business is fading.

Since the beginning of the year, the Weima automobile factory has stopped production for a long time. Due to the long absence of work, a batch of machines may be scrapped, while employees can only get a basic salary of 1700 yuan a month to survive because of no performance, and finally have to leave. At the same time, because of the financial and debt crisis, Weimar's 4S stores across the country were widely closed, and dealers faced double difficulties because no consumers were willing to buy Weima models, and eventually had to switch to other brands. What is more important is that after-sale, the Weima car factory stopped production for a long time, coupled with the refusal to supply the Weima car due to arrears of payment, the arrival of Weima car parts will take several months, and car owners have to be careful when they drive the Weimar. If there is any carelessness, it will be difficult to maintain.

Shen Hui is known for being good at capital operations. when he was vice president of Geely Holdings Group, he was involved in the operation of Geely's acquisition of Volvo, which reborn Volvo and led Geely to the global market. and today's Weimar is also like Volvo, in the context of sustained huge losses, brand and word-of-mouth collapse, Weimar can find another "Geely" to achieve transformation. It's not known yet, but it's obviously not going to be easy.

In January this year, Shen Hui shouted "live, live like an animal", which is regarded as a true portrayal of the survival of the Wilma Jedi. However, a year is approaching, Weimar is still facing the problem of "living".

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