Lanzhou Zhidou automobile was auctioned: Liabilities of 1.8 billion were listed as dishonest people 48 times

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 Lanzhou Zhidou automobile was auctioned: Liabilities of 1.8 billion were listed as dishonest people 48 times


Lanzhou Zhidou automobile with pure electric passenger vehicle production qualification will be disposed and auctioned by the court on November 24.

Recently, according to the pre auction project of Alibaba judicial auction platform, 100% of the equity of Lanzhou Zhidou Electric Vehicle Co., Ltd. (hereinafter referred to as Lanzhou Zhidou) was disposed and auctioned by Ningbo intermediate court of Zhejiang Province, with the starting price of 138 million yuan, the evaluation price of 197 million yuan, the deposit of 25 million yuan and the price increase of 100000 yuan.

The project will be publicly auctioned on Taobao judicial auction network platform (i.e. Alibaba judicial auction platform) of Ningbo intermediate peoples Court of Zhejiang Province from 10:00 on November 24, 2019 to 10:00 on November 25, 2019 (except for the delay).

It is understood that the 100% equity of Lanzhou Zhidou in the auction includes land, plant and vehicle production line and other assets. However, compared with these assets, Lanzhou Zhidous most valuable and most concerned asset is its pure electric passenger vehicle production qualification.

Alibaba judicial auction platform Lanzhou Zhidou auto 100% equity auction page. Screenshots

Tianyancha data shows that Lanzhou Zhidou is a wholly-owned subsidiary of Zhidou Electric Vehicle Co., Ltd. (hereinafter referred to as Zhidou automobile), and the shareholders behind its parent company include new ocean group, Geely Holding Group, etc. Zhidou automobile is one of the earliest brands engaged in micro electric vehicles in China.

In 2015, the domestic subsidy for new energy vehicles was still in the dividend period, and the price of Zhidou electric vehicle was between 30000-50000 yuan at that time, which was called the magic weapon of occupying the number by the consumers in the limited number cities. During the three years from 2015 to 2017, the annual sales volume of Zhidou automobile was 25300, 24000 and 43000 respectively. Among them, Zhidou D2 ranked sixth in the global new energy vehicle sales list in 2017.

However, with the decline of subsidies for new energy vehicles, Zhidous car sales fell sharply. In 2018, the cumulative sales volume of Zhidou automobile was only 15300, down 63.9% year on year; in the first three quarters of 2019, the cumulative sales volume of Zhidou automobile was only 2095, down 84.5% year on year.

Lanzhou Zhidou auction notice shows that at present, Lanzhou Zhidou is still in normal operation and will auction the current situation.

According to the appraisal report and notes released by the court, by the end of June 2019, Lanzhou Zhidou had a revenue of 2005.37 million yuan and a net profit of - 111 million yuan; a total asset of 1.902 billion yuan and a net asset of 64.823 million yuan, of which only 1.16 million yuan was cash; a total liability of 1.838 billion yuan, of which 730 million yuan was accounts payable and 11.498 million yuan was employee compensation payable.

Since 2018, Lanzhou Zhidou has been exposed by the media for many times that there are arrears of payment and employees wages, and this assessment report confirms the media exposure.

Tianyan data shows that Zhidou automobile has also been listed as dishonest executor by the court 48 times, and its founder Bao Wenguang has also been restricted from high consumption.

According to the auction announcement, according to the courts requirements, bidders need to go to the scene in person in advance to check and learn all the arrears of the subject matter.

Ningbo intermediate peoples Court of Zhejiang Province specially indicated that defects of auction products are: the company is still in operation, and there will be certain changes in assets. Gansu provincial government, Lanzhou municipal government and Lanzhou New Area Management Committee have signed cooperation agreements with Lanzhou Zhidou, which have certain restrictions and agreements on specific operations. At the same time, the lease contract of plant and equipment and the supplementary agreement mentioned in Zhidou appraisal report have been terminated on September 20, 2019, and the contract will not be performed any more.

According to the relevant person in charge of Lanzhou New Area Economic Development Bureau, there are three main restrictions and agreements. To continue the production of new energy vehicles in Lanzhou New Area, all the funds invested must be used for projects in Lanzhou New Area, and the production capacity must be maintained.

Up to the time of publication, no one has submitted a bid for the deposit, but 170 people have set up information reminder for the auction.

Who will take the offer in the end is still a question mark. Among Lanzhou Zhidous many assets, pure electric passenger vehicle production qualification is considered to be the most valuable.

Although there are a lot of new car manufacturing enterprises, few have production qualification. Popular car companies like Weilai and Xiaopeng have not been able to obtain the qualification, so they can only apply for and produce new cars through OEM.

For the qualification of new energy vehicle building, many new forces have made great efforts to seek. In February 2017, Weima automobile acquired Dalian Huanghai with RMB 1.18 billion and obtained the production qualification; in September 2018, Baiteng 850m won the production qualification of Tianjin Huali; in December 2018, ideal automobile acquired all shares of Chongqing Lifan Automobile Co., Ltd. with RMB 650 million and obtained the production qualification. However, with the development and Reform Commissions opening up of new energy vehicle production qualification, it is less difficult to obtain the qualification. Zhao Gang, vice president of zerorun automobile, said in an interview with the media, your qualification will become less and less valuable in the future. Who else will buy it?; the head of another qualified new car manufacturing enterprise said more directly that Zhidou is a seller. The more you sell it, the less valuable it will be, and then you will get it for nothing. Cui Dongshu, Deputy Secretary General of the national passenger vehicle market information joint meeting, told surging news reporters that Lanzhou Zhidous price auction was a winter price discount. Cui Dongshu said that the sale of car qualification has market, but its gold content is indeed decreasing, and the investment bubble is cooling down. Source: surging news editor: Han Jiapeng GUI nn9841

For the qualification of new energy vehicle building, many new forces have made great efforts to seek. In February 2017, Weima automobile acquired Dalian Huanghai with RMB 1.18 billion and obtained the production qualification; in September 2018, Baiteng 850m won the production qualification of Tianjin Huali; in December 2018, ideal automobile acquired all shares of Chongqing Lifan Automobile Co., Ltd. with RMB 650 million and obtained the production qualification.

However, with the development and Reform Commissions opening up of new energy vehicle production qualification, it is less difficult to obtain the qualification.

Zhao Gang, vice president of zerorun automobile, said in an interview with the media, your qualification will become less and less valuable in the future. Who else will buy it?; the head of another qualified new car manufacturing enterprise said more directly that Zhidou is a seller. The more you sell it, the less valuable it will be, and then you will get it for nothing.

Cui Dongshu, Deputy Secretary General of the national passenger vehicle market information joint meeting, told surging news reporters that Lanzhou Zhidous price auction was a winter price discount. Cui Dongshu said that the sale of car qualification has market, but its gold content is indeed decreasing, and the investment bubble is cooling down.