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A new force has been executed for a total of 357 million!

2024-05-27 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

According to the information of Sky Eye Inspection, Redding Automobile Group Co., Ltd. newly added two pieces of information of the person subjected to execution, with the execution object of RMB 147316848.0 yuan and RMB 49722088.0 yuan respectively. The execution court is Weifang City Weicheng District People's Court and Nantong City Intermediate People's Court.

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 is wholly owned by Bidwen Holding Group Co., Ltd. According to the risk information checked by Sky Eye, Reading Automobile Group Co., Ltd. has 15 pieces of information about the person subject to execution, with a total executed amount of RMB 357 million yuan. In addition, the company also has a number of consumption restriction orders, dishonest executees (laolai) and final case information.

As a Redding car founded in 2008, the car that transformed from a low-speed electric vehicle into a new energy vehicle track was still out, and today's situation is sad. In fact, the early Redding cars also had highlight moments. At the beginning of 2019, Reading Automobile acquired 100% equity of Sichuan Yema for RMB 1.46 billion yuan, thus obtaining production qualification such as new energy vehicle, and then launched three small pure electric vehicles including i3, i5 and i9. However, due to lack of competitiveness and other reasons, i series pure electric vehicles were completely discontinued after only one year on the market. In 2021, Redding Automobile quickly entered the mini-car market and launched the "Redding Mango Series" model. After the new car was launched, it won the recognition of a large number of consumers, creating a monthly sales volume of 6056 vehicles. In 2021, the accumulated sales volume was 30,400 vehicles. Unfortunately, the good times didn't last long. In the next year, only 7042 new cars were in danger, down 47.29% year-on-year, with a market share of 0.13%.

Since December 2021, there have been negative news such as the application of middle and senior management within the company to actively reduce salary to overcome the crisis, suspected production suspension, upstream and downstream launching "debt recovery" against Reading Automobile and delaying dealer payment. 2023 is even more a chicken feather. From the early 2023 self-exposure of the capital chain break, bankruptcy application, founder Li Guoxin overseas settlement to now has been listed as a discredited executee and frozen equity and other negative news, Reading Automobile's current situation is at stake.

Earlier, the head of Reading Automobile said in an interview with the media that the company had filed for bankruptcy, and low-speed cars and new energy passenger cars were not done. "Both Reading's enterprise and Reading's team are still very valuable. If there is capital interest in Reading, the company still has hope of rebirth. "

According to "Auto Industry Concern," after entering 2024, the automobile industry enters into a more intense mode of survival and elimination of the fittest, which also accelerates the elimination of weak brands with poor sales volume and tight capital chain to a certain extent. On the premise that the product cost performance and leading technology are not available, perhaps the fate of Reading Automobile has already been doomed.

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