Source: Photo.com
On January 3, 2024, Guangzhou Cluster Chebao Digital Technology Co., Ltd. published an open letter to all employees and partners. In the letter, the founder, Gao Cluster, announced that after the resolution of the company's general meeting of shareholders, Cluster Chebao filed for bankruptcy with immediate effect.
It is understood that Gao Cluster said in the open letter that he and his team still stick to their original intention and insist on developing digital infrastructure for the automotive service industry. In order to save the company, Gao Cluster and his wife mortgaged all the family's assets to the bank and provided personal credit guarantees; shareholders also mortgaged their real estate to raise funds for the company's development; the company's management did not receive wages for eight months, and the grassroots employees did not receive their salaries for three months.
According to the Guangdong News Channel, an employee of Chebao said that the notice of the company's bankruptcy came very suddenly, and the employee said that he was collecting materials with his colleagues to apply for arbitration and recover the unpaid wages from the company. According to the New Express, insiders in the cluster Chebao revealed that the cluster Chebao, which is about to file for bankruptcy, has a debt of more than 100 million yuan.
An auto market veteran believes that the bankruptcy of cluster Chebao is first of all because of the trend, and entrepreneurship should take advantage of the trend. Like the automotive aftermarket, especially the automotive aftermarket for fuel vehicles, is shrinking. For example, the penetration rate of new energy vehicles in Guangzhou has reached about 50%-60%, while the after-sales demand for new energy vehicles (electric vehicles) is less.
According to public information, Cluster Chebao was established in 2013 and the company is headquartered in Guangzhou. According to the cluster Chebao Douyin account, the company has 200 offline stores across the country. At present, Cluster Chebao will set up a bankruptcy liquidation team in accordance with legal procedures to properly handle various matters after bankruptcy.
Development prospects: The market size will be close to 10 trillion in 2027
From the perspective of automotive aftermarket development, the cumulative number of automobiles in mainland China will reach 302 million in 2021, a year-on-year increase of 7.47%. According to the calculation of the mature automotive aftermarket, there is still a large space for development in the continental automotive aftermarket. From the perspective of policy support, in recent years, the state has successively introduced a series of relevant policies for new energy vehicle charging and replacement infrastructure, automobile maintenance, automotive supplies and other subdivisions, which has laid the foundation for the standardized development of the mainland automotive aftermarket, which is expected to bring great benefits to the development of the mainland automotive aftermarket.
The Prospective Industry Research Institute predicts that in the next five years, the car rental, automotive electronics, automobile maintenance and repair, auto finance, scrapped car recycling, and new energy vehicle charging and swapping infrastructure industries will grow at different speeds. Combined with the market size forecast of each segment and the development status of the continental automotive aftermarket, it is expected that the scale of the continental automotive aftermarket will be close to 9.8 trillion yuan in 2027, with a five-year compound growth rate of 11.19%.
Development trend: The demand for after-sales service for new energy vehicles is rising
In the future, the automotive industry will enter the era of electrification, and the development of new energy vehicles will provide more emerging aftermarket players with breakthrough ideas. At the same time, the lag of after-sales service of new energy vehicles cannot meet the requirements of the rapid development of new energy vehicles. Whether it is in terms of talent demand, technical route, product structure, operation mode, or in terms of testing and repair, maintenance, service facilities, equipment and tools, etc., the aftermarket services of new energy vehicles need to be improved.
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For more research and analysis of this industry, please refer to the "Analysis Report on Market Prospect and Investment Strategic Planning of China's Automotive Aftermarket Industry" by Qianzhan Industry Research Institute
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