Pay attention to the auction of some assets of | Qu and Sai Lin Automobile

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I saw him rise to a tall building, I saw him feast on guests, and I saw him collapse.

Sailin Automobile once held a grand press conference at the Bird's Nest,

The scenery is no different.

Soon after, the chairman was reported for embezzling a huge amount of state assets.

After burning out 6.6 billion,

Sai Lin automobile production line and other equipment listed for auction.

A few days ago, the Intermediate People's Court of Nantong City, Jiangsu Province, disclosed an auction information about "Jiangsu S Automobile Company", according to the information verification, it was Jiangsu Sailin Automobile that was auctioned.

It is understood that the auction is located in the 5th, 6th, 7th and 8th groups of Zhennan Community, Chengbei Street, Rugao City, the land use rights of 7, 12 and 18 groups of Shuanglong Community, and the above-ground buildings and assets involved in machinery and equipment, production lines, assembly lines and other assets, with a starting price of about 2.378 billion yuan, which will be publicly auctioned on May 30, 2022.

According to people familiar with the matter, assets such as equipment and production lines account for about half of the shares in the lot. After bidding, it is suitable for automobile manufacturing, and if no one takes over, it will cause great waste.

The fact that Sailin Motors has fallen to where it is today is not only poorly managed, but also because it has been a "bureau" from the beginning.

Wang Xiaolin, chairman of Sailin Motors, was a well-known lawyer before entering the automotive industry, and according to the data, Wang Xiaolin graduated from the law department of Xiangtan University, and later obtained a master's degree in international development studies from Ohio University and a doctorate in law from Duke University in the United States.

Wang Xiaolin has a good career in the legal profession and has achieved financial freedom. Since he loves cars, he spends a lot of money on cars. Some reports have said that Wang Xiaolin owned 48 luxury cars at most and obtained a full-class professional racing license in the United States.

Wang Xiaolin

Because of Wang's experience as a lawyer, he became acquainted with many Chinese and American business and politicians, including Terry McAuliffe, former chairman of the Democratic National Committee. In 2008, McAuliffe funded Xiaolin Wang to establish GTA-GreenTech Automotive.

UNDER THE OPERATION OF WANG Xiaolin, GTA Motors obtained financing in the United States and acquired the Hong Kong car company EuAuto Technology and acquired the Mycar electric car.

Originally founded by American professional racing driver Steve Sailin, Sailin Motors was the supercar S7. However, due to poor management, it is on the verge of bankruptcy.

Xiaolin Wang and Steve Sailin

In 2016, Wang Xiaolin acquired and reorganized Sailin Automobile through tripartite cooperation in Rugao City, Nantong City, Jiangsu Province. The legal representative of Jinhua Youth Lotus Holding Group Co., Ltd., which provides qualifications for Sailin Automobile, Pang Qingnian, has been listed as a dishonest executor on 20 occasions because of his hydrogen-fueled vehicles.

After the establishment of Jiangsu Sailin Automobile, the registered capital reached 10 billion yuan, of which Rugao Economic and Technological Development Zone invested 3.3 billion yuan, and Wang Xiaolin invested in shares through technology, the specific technology refers to the patent of Sailin Automobile bought for 500,000 US dollars, and then he also used the technology bought for 20 million yuan to buy 1.1 billion yuan into the shares.

After receiving 3.3 billion yuan, Wang Xiaolin used part of the funds to buy factories and equipment. Through the mortgage of factories and equipment, it also borrowed 3.3 billion yuan from the state-owned major shareholder of Jiangsu Sailin. In this way, Wang Xiaolin received 6.6 billion yuan from the government.

In July 2019, Wang Xiaolin and Sailin Automobile made their own highlight moments. At a cost of 300 million yuan, a new car conference was held at the Bird's Nest for the "Night of Racing, the Beast Comes to the Nest". The press conference invited the host Hua Shao and Hollywood film star Jason Statham.

The new car unveiled at the press conference was an A0-class electric vehicle, Sai Lin Mai Mai, which was still priced at 160,000 yuan after subsidies, and was jokingly called "sky-high old man music" at the time.

After the release of Sailin Maimai, many people in the industry believe that Sailin Automobile does not seem to want to build a car. It is also true that The online sales cycle of Sailin Mai lasted only a short month, receiving a total of 31 orders.

In the doubt, the outside world found that Sai Lin Mai Mai is the EuAuto Mycar electric vehicle previously acquired by GTA, but the Mycar electric vehicle was positioned as a low-speed electric vehicle when it was developed.

In April 2020, Qiao Yudong, a former senior legal manager of Sailin Automobile, reported Wang Xiaolin, saying: "In July 2020, Nantong Jiahe, which invested 3.3 billion yuan, accused Wang Xiaolin. Wang Xiaolin took advantage of his position to embezzle a huge amount of state-owned assets from Sailin Motors. ”

After that, Wang Xiaolin said that he bought more than ten tickets, but due to the epidemic and domestic restrictions, he could not return to China. At the same time, the Intermediate People's Court of Nantong City, Jiangsu Province, seized all the assets of Jiangsu Sailin Automobile Shanghai Branch.

The evaluation information in the auction information can be seen that the assets such as machinery and equipment, production lines, and assembly lines have entered the market from 2018 to 2019, except for equipment such as battery forklifts, switches and monitoring systems of the IT department, which have been used, and there is leakage of a 2-ton battery forklift battery, the rest have not been used.

"It can be seen from this that Wang Xiaolin has never had the idea of building a car from the beginning to the end, and Sai Lin Automobile and Sai Lin Mai Mai are also a complete game." An auto industry veteran said.

In the past few years, new energy vehicles have developed rapidly, and in this context, various chaos has occurred frequently. With the big waves and sand, there are fewer and fewer new energy vehicle companies left. It is hoped that after May 30, this once false production line can produce real new energy vehicles.