In recent years, almost every year, new car companies have emerged, and some old forces have come out. As many car company leaders predict, perhaps 50% of car brands will be eliminated in the future.
Time into 2022, the first to declare bankruptcy is once dared to be the same as the BBA Borgward.
In April 8, Foton Motor released information that Beijing Borgward Automobile Co., Ltd., a subsidiary of the group, applied for bankruptcy liquidation due to its inability to repay its debts as they fell due. It should be noted that bankruptcy liquidation is different from bankruptcy reorganization, bankruptcy liquidation means that the company will not be taken over, but directly handed over to the liquidation team for processing and repayment, and then the company is written off.
This means that Zotye, which was taken over by Shenzhen Commercial Holdings for 2 billion yuan last year, theoretically has the possibility of brand resurrection, then Borgward is already a worthless negative asset, and it will completely cease to exist after bankruptcy.
In addition to Borgward, there are many car companies that are also on the edge of the cliff this year. We may wish to take a look, perhaps these car companies may follow in the footsteps of Borgward at any time.
Cloudy Cars
A few days ago, Haiyuan Composite, one of the shareholders of Yundu Automobile, issued an announcement that it would transfer its shares in Yundu to Zhuhai Investment for 22 million yuan, and the company would no longer hold the equity of Yundu Company. When Yundu Automobile was established in 2015, Haiyuan Composite invested 0.99 billion yuan, holding 11% of the shares, and now the transfer price has been discounted by 2.2%.
According to the data disclosed in the announcement, Yundu Automobile's revenue in 2021 was 67.7632 million yuan, with a loss of up to 213 million yuan; the revenue in the first three months of this year was only 6.6025 million yuan, and another loss was 55.7136 million yuan. As of March 31, 2022, Yundu Company had total assets of 1.652 billion yuan, total liabilities of 1.682 billion yuan, accounts receivable of 185 million yuan, and net assets of -30.7964 million yuan.
The announcement pointed out: "The consolidated statements of Yundu Company and its subsidiaries have negative net profits for each year, and the loss situation is becoming more and more serious. At present, the capital chain is broken, and Yundu Company has been in a state of suspension since February 2022. "Haiyuan Composite's move is obviously intended to stop losses.
Although some People related to Yundu Automobile subsequently responded that the suspension of production was due to battery problems, it is expected to resume production in two months. But the financial report and sales data cannot deceive people.
Since 2017, Yundu Auto has only released two products. The subsequent release of the π7 model has not been released for a long time, and there is no follow-up news of the X-π concept car. The sales of the two listed models continued to be sluggish due to insufficient product strength and lack of marketing investment.
From 2017 to 2020, the net loss of Yundu Automobile was 0.95 billion yuan, 138 million yuan, 177 million yuan and 204 million yuan, respectively. Although Yundu's annual loss is not as large as Wei Xiaoli's, it is actually in a state of insolvency.
At a time when the pattern of the new energy camp is becoming clearer, the chances of Yundu, which has fallen behind, can be overturned.
Seahorse Cars
As one of the old car companies in China, Haima Automobile has also created good results in the domestic car market. However, when it "broke up" with Mazda and embarked on the road of independent development, the Waterloo of Haima Motors began.
Due to the lack of product innovation and research and development capabilities, Haima Automobile began to fall off a cliff after reaching the peak of annual sales of 210,000 vehicles in 2016. In 2018, Haima Automobile's annual sales volume was only 67,600 units, down 51.8% year-on-year. In the following four years, OEM orders from Xiaopeng Automobile allowed Haima Automobile to maintain basic operation.
In recent years, in order to keep itself from delisting in the capital market, Haima has successively seen some "riot operations", such as selling more than 400 houses at one time in 2019, selling 145 houses in 2020, and selling part of the equity of Hainan Bank, finally saving its own listed company shell resources. However, its net profit attributable to shareholders of listed companies in 2020 is still a loss of 1.335 billion yuan, and the operating situation has not improved significantly.
With the termination of the cooperation between Xiaopeng and Haima Automobile at the end of 2021, Haima Automobile has lost another profit point, or will once again fall into the dangerous situation of a sharp decline in sales and performance. According to the data, the production of automobiles in the first quarter of this year was 4817 units, a year-on-year decrease of 22.26%; the cumulative sales volume was 5730 units, a year-on-year decrease of 18.19%.
Although Haima Automobile will currently hope to bet on the transformation of hydrogen energy, whether it is a technical reserve or a commercial landing, it will not only "burn money", but also a long time. With the current amount of funds of Haima Automobile, I don't know whether it can continue to rely on the sale of "family property" to survive until that time.
Southeast Cars
Similar to the development route after Haima lost Mazda, Southeast Motor's market performance deteriorated after it lost the help of Mitsubishi in 2012. According to the data, the cumulative sales of Southeast Automobile from 2018 to 2021 were 89279 vehicles, 30502 vehicles, 14654 vehicles and 8426 vehicles, respectively. Although the equity of Southeast Automobile has changed several times during this period, none of the funds, technology, and research and development can support the transformation of Southeast Automobile.
In 2021, Southeast Automobile released the brand renewal plan, and announced a new generation of product LOGO, released three new products, and the new car will be announced in 2022. But so far, the official has not announced the latest progress on the three models.
In fact, at the end of 2021, in order to save the dying Southeast Automobile, the relevant departments in Fujian launched the special action of "attacking the stronghold for 120 days" and set up 12 special work classes, and the four major shareholders of Southeast Automobile brought the first phase of capital increase of 2 billion yuan to forcibly "continue life" for Southeast Automobile.
In March this year, it was announced that Chery would acquire Southeast Automobile through technology investment. Southeast Automobile will exchange 80% of its equity for Chery's "technical support", while Chery will invest in Southeast Automobile with technology and import Jietu and Chery commercial vehicle products, and if it can complete the sales target stipulated in the agreement, Southeast Automobile will give 80% of the equity to Chery free of charge.
However, this similar gambling cooperation agreement has clear requirements for the production and sales of Southeast Automobile in the next 3 years. In the cooperation plan revealed in the plan, this cooperation will use Southeast Automobile as the main body, operate with the Southeast Jietu Automobile brand, and strive to achieve annual production and sales of 400,000 vehicles within 3-5 years. With the ability of Southeast Car, it can be said that it is extremely difficult to complete this goal.
Even if In the end, Southeast Automobile was successfully "acquired" to achieve self-help, it was only to survive the role of "foundry enterprise".
Aichi Cars
Since its inception in 2017, Aiways Has Only Launched one U5 model. And due to the poor safety of its products, the lack of brand labels and other reasons, resulting in dismal sales. According to the data, the cumulative sales volume of AIWAYS in 2020 is only 2600 vehicles. From January to November 2021, the cumulative sales volume was 2992 vehicles, compared with the big stride growth of the new forces in the head, the sales performance of AIWAYS Automobile can be described as stagnant.
In fact, since 2020, AIWAYS has been exposed to the news of arrears of employee year-end bonuses, supplier payments, and the departure of many executives. On the brink of life and death, Aichi also had to turn to external forces. Subsequently, at the beginning of this year, a new round of financing and a new senior management team were ushered in, and the founding team of AIWAYS Automobile, such as Fu Qiang, Gu Feng and others, have retired one after another.
However, the new chairman Chen Xuanlin and guangwei holdings behind him are best at capital operation. Judging from past experience, they may not make long-term effective measures for the development and sales of Aichi, but will only focus on how to quickly package and monetize Aichi.
As can be seen from the first quarter performance of the new senior management team, the delivery time of aiways Automobile's new model U6 is still undecided, and the official market performance is even more embarrassing that the official can only use export data to whitewash sales. Aiways officially announced: "In the first quarter of 2021, a total of 1056 vehicles (including customs clearance) were exported, which exceeded the total export volume of the whole of last year." ”
Such an Aichi obviously does not have many opportunities to turn over.
Write at the end:
Survival of the fittest is a normal phenomenon in every industry. It's just that looking at these car companies that were once beautiful or ambitious, and now they are struggling on the edge of life and death, they can't help but sigh. Car circle, not good mixed ah! (Text/UVIS Auto Old Cannon)
Note: The picture comes from the network, the rights belong to the original author, thank you! This article only represents the personal views of the author and does not represent the position of Univision Automobile.