After the Spring Festival in 2019, with the contraction of the automotive industry and its own poor operation, the private car company Zotye Automobile gradually fell into operational and financial crisis. Later, with the sudden epidemic, the company's operations worsened and gradually wandered on the verge of delisting and bankruptcy. The Mahayana car backed by Zotye Automobile also disappeared from historical memory in only two years. Ying Jianren, the former controller, was also enforced by the court and lost control of the company.
On December 29, 2021, Huang Jihong agreed with Jiangsu Shangshang, Wanchi Investment, Zhongfu Tongren, Lichi Investment, and National Digital to entrust the voting rights of 24.22% of the equity of Zotye Automobile to Huang Jihong, who also became the actual controller of Zotye Automobile in one fell swoop, while Ying Jianren, the former major shareholder of Iron Bull Group, was completely "swept out" by Zotye.
Of course, it is not surprising that Ying Jianren has this result. In 2015, through a backdoor listing, Ying Jianren successfully sold Zotye, which has only 2.2 billion yuan of capital, to a listed company for 11.6 billion yuan. In 2016, through the launch of plagiarized models such as Zotye SR7, SR9 and Damai X5, Zotye Automobile sold more than 300,000 vehicles in 2015 and 2016.
However, with the increasing rationality of consumers and the poor quality of Zotye itself, Zotye Automobile began to gradually decline in 2017. In 2019, the loss of Zotye Automobile has reached 11.2 billion. In 2020, with the impact of the epidemic, the performance of Zotye Automobile continued to be dismal. In 2020, Zotye continued to lose 10.801 billion yuan. By the end of 2020, the net assets of Zotye Group have become -4.423 billion yuan, completely insolvent.
With the emergence of a new leader, Zotye Automobile began to show a certain turnaround. Huang Jihong, who took over Zotye this time, has successfully brought the huge group of auto trade giants back to life, and at the same time, Huang Jihong is also the chairman of China Minsheng Investment Group, with rich financial channels in his hands and sufficient strength to resolve the operational risks of private enterprises.
On the other hand, the reorganization plan of eight subsidiaries of Zotye Automobile has been approved by the court, and the company's daily operations have begun to pick up. Of course, Huang Jihong is also well aware of the poor performance of Zotye Automobile, and the brand is far less influential than Lifan Technology and Hanma Automobile, and the impression of Zotye is always plagiarism, so it is difficult to complete the counterattack in 2022.
However, with the east wind of new energy, Taking over Zotye is also to obtain its production qualifications. Take ideal car, ideal car by taking over FAW Xiali successfully obtained production qualifications. Xiaopeng Automobile has previously used Haima Automobile to achieve mass production of models. For Zotye, in addition to taking root in the local market of Yongkang, Zhejiang Province, the official car and online car market, Zotye can also seek cooperation with new car-making forces.
Zotye has indeed done this, and the Changzhou factory of Mahayana Automobile, which is inextricably linked to Zotye, has been taken over and transformed by the new car-making forces, successfully revitalizing this abandoned factory. In addition, following the example of Lifan Technology, we will first focus on opening up the B2B market, such as official cars and online car models, and avoid the consumer market where bayonets are popular, then Zotye can achieve rapid blood return.
In general, after getting rid of the wrong command of the original leadership team members, the future of Zotye Automobile in 2022 will be brighter. Of course, the future is bright, but the road is tortuous, and there are still a lot of difficulties left for Huang Jihong's Zotye to solve one by one in 2022.