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Chicken feathers all over the floor! Aichi car is enforced 210 million.

2024-07-18 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)05/19 Report--

According to Tianyan investigation information, on May 16, Aichi Automobile Co., Ltd. added a piece of information about the person subject to execution, with an execution target of more than 218 million yuan, involving contract disputes related to Jiangling Holdings Co., Ltd., and the enforcement court is the Nanchang Intermediate people's Court.

Prior to this, on May 14, Aichi Automobile Co., Ltd. added a piece of information about the person subject to execution, the execution target was 47211 yuan, and the enforcement court was the people's Court of Longgang City. As of press time, Aichi Automobile Co., Ltd. has three cases of execution, with a total amount of 218 million yuan.

According to Tianyan data, Aichi Automobile Co., Ltd. was established in February 2017. its legal representative is Guo Chao, with a registered capital of about 868 million yuan. It is an enterprise mainly engaged in science and technology promotion and application service industry. Shareholder information shows that the company is jointly owned by Ningbo Meishan Free Trade Port area Kaijiu Investment Management Co., Ltd., Huzhou Aochi Investment Partnership (limited partnership) and so on.

Risk information shows that the company has a number of persons subject to execution, restrictions on consumption orders, breach of faith and final capital case information. As of press time, the company had a total of three pieces of information about people who broke their promises, with a non-performance rate of 100%. Among them, the latest one is January 22, 2024, when the company was listed as a breach of trust by the people's Court of Shangrao County for violating the property reporting system.

As one of the early new power brands of car building in China, Aichi has a good start and has attracted much attention from the industry. founded by Fu Qiang, which once held important positions in FAW-Volkswagen, SAIC Volkswagen, Beijing Mercedes-Benz and Volvo, it is headquartered in Shanghai Changyang Valley Creative Industrial Park and its production base is located in Shangrao City, Jiangxi Province. it was once one of the first new power companies in China to achieve mass production and delivery. It spent a lot of money to acquire Jiangling Holdings so as to obtain independent car-building qualification, and access to Ningde era, DiDi and other well-known companies investment, accumulated financing of more than 10 billion.

However, since 2023, the operating situation of Aichi Automobile has been unoptimistic and full of negative news, which has been exposed successively, such as financial crisis, arrears of employees' wages, employees have to pay social security, headquarters office arrears to return rent, factory shutdown, bankruptcy and other negative information. Today, Aichi Automobile Shanghai has been filed for bankruptcy. In November 2023, Anji Automotive Logistics (Shanghai) Co., Ltd. applied for bankruptcy liquidation with the Shanghai No. 3 Intermediate people's Court on the grounds that Aichi Automobile (Shanghai) Co., Ltd. was unable to repay its due debts and obviously lacked solvency.

A number of media reported that Aichi has abandoned the domestic market, the company already has an European headquarters in Germany, and future sales will focus on Germany. But as of press time, Aichi did not respond to the news. NASDAQ-listed SPAC Hudson acquired I (Hudson Acquisition l Corp.) on May 14, New York time, announcing that it had signed a business merger agreement with Aiways Automobile Europe GmbH, an European company that will provide electric vehicles for the European market. According to the report, shareholders of Aichi Europe will receive newly issued HUDA common shares with a total amount of about $400m, and the deal will be completed by the end of this year.

It may also be doomed for Aichi to abandon the domestic market. Compared with other new car-building forces in China, the focus of the development of Aichi Automobile is not at home, but on the overseas market. It is one of the earliest new energy vehicle companies in China to layout the overseas market. From 2017 to 2020, Aichi set up an electric sports car R & D center and factory in Germany, as well as an overseas division and an European sales company in Munich. By the end of 2021, Aichi has entered 11 countries, including France, Germany and Italy, and the fact that overseas sales are larger than domestic sales is also a long-standing performance of Aichi when its delivery performance in overseas markets is poor.

With the increasingly fierce market competition brought about by the price war and the frequent problems of the capital chain caused by poor financing, they have not yet obtained the hematopoietic capacity, and the new power car companies with insufficient product power are facing elimination. At present, it is difficult to maintain funds and poor sales have become the core factors that overwhelm Aichi, and how Aichi will develop in the future is still full of uncertainty.

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