In 1886, the world's first car was born, but the initial stage of the mainland automobile industry began in the 1950s. Therefore, it is understandable that domestic cars are slightly behind. However, with the rapid development of the mainland automobile industry, domestic automobiles have now occupied a position in the market.
In 2022, the Association of Automobile Manufacturers released a list of domestic hot models in December 2021, of which the top 10 MPV hot sales list, 6 models are domestic brand cars; in the car ranking, the first is also a domestic brand model, and the total sales in December even reached 38,900 vehicles.
It can be seen that domestic car brands are rising today. At the same time, we have also witnessed the emergence of many excellent automobile brands in the mainland, such as Geely, BYD, Wuling and so on. However, I don't know if you remember the once well-known car company - Zotye Automobile.
Brief periods of glory
Zotye Automobile was formally established in 2003, its founder is Ying Jianren, as early as the 90s of the last century has begun to engage in automotive hardware accessories business, perhaps this is also one of the main reasons why it decided to buy a production line and establish Zotye Automobile. Although once upon a time, the status of domestic cars in China was not so high, but Zotye still achieved great results.
The data shows that since the first car was listed in Zotye Automobile in 2006, various brands have followed the ground world, and even as early as 2011, Zotye began to lay out new energy vehicles with great foresight. Strategically, this is a car company with development potential.
So in 2014, the potential of Zotye Automobile really "exploded". It is reported that in the mainland's own brand automobile market that year, the overall sales volume has achieved "12 consecutive declines". However, Zotye Automobile was extraordinary, with annual sales directly reaching more than 166,000 units, an increase of 23.8% year-on-year.
It can be said that Zotye Automobile can be regarded as a "dark horse" in the domestic automobile brands of that year. After this, Zotye Automobile has developed all the way. It is reported that in 2016, the cumulative sales of Zotye Automobile have achieved a year-on-year increase of 50% to 333,100 units.
At the same time, in the sales list of mainland automobile brands that year, Zotye Automobile directly entered the top ten. Moreover, by 2017, the sales volume of Zotye Automobile remained above 300,000 vehicles. This period of time is probably the most "brilliant" period of Zotye Automobile, but unfortunately, this is a very short "brilliant".
Sales plummeted and went bankrupt
By 2018, the sales of Zotye Automobile had fallen year-on-year, a decline of more than 26%, and the sales volume of that year was only 230,000 vehicles. In 2019, this sales volume continued to decline, only 116,600 vehicles, compared to almost "waist cut".
Since sales have fallen, the performance of Zotye Automobile can also be imagined. In 2017, Zotye Automobile disclosed a net profit attributable to the mother of 1.256 billion yuan. By 2018, it began to fall, with only 800 million yuan. After 2019, there was a direct loss.
It is reported that in 2019, 2020 until the first three quarters of 2021, Zotye Automobile has always shown a loss situation, and the cumulative amount has reached about 23 billion yuan. At the same time, Zotye Automobile, which was once listed on the market and had a market value of only 40 billion yuan, also experienced a sharp decline in market value in 2020, directly falling to less than 3 billion yuan.
Evaporating the market value of tens of billions also seems to show us the situation of Zotye Automobile in the capital market, but the plunge in market value is not nothing, and the stock of Zotye Automobile has also become "*ST Zotye" in 2020, that is to say, Zotye Automobile has the risk of being delisted at any time.
With these "troubles", throughout 2021, Zotye Automobile has been caught in the storm of "bankruptcy liquidation" due to debt problems, and there are frequent rumors in the market that Zotye is about to go bankrupt. And Ying Jianren, who founded Zotye, has already cashed out a huge amount of money to "leave", and since then, Zotye Automobile has changed from a former "dark horse" to a "chicken feather".
resuscitation?
However, just when Volkswagen really thought that Zotye Automobile had completely collapsed, there was a turnaround at this time. It is reported that in November 2021, Zotye Automobile announced the implementation of the reorganization plan, and as of the end of the year, its 7 subsidiaries have officially completed the reorganization. Not only that, Zotye Automobile even received an investment of 2 billion yuan.
At the same time, in fact, the controller has also changed from Ying Jianren, who has left the market, to Huang Jihong, general manager of Jiangsu Shenzhen Business. The data shows that Huang Jihong is currently involved in the restructuring of the huge group and has become the actual controller, and the "turning the crisis into safety" of the huge group seems to have made people full of confidence in Zotye Automobile.
Therefore, people have speculated that perhaps Zotye Automobile can really come back to life after that.
Now that it is 2022, Zotye Automobile's "chicken feathers in one place" have been solved and left in 2021. In the new year, whether the restructured Zotye Automobile can really come back to life and turn the crisis into safety, we will have to wait and see. I don't know if you have heard of this brand? Feel free to leave a message in the comments section.