Zhongtai auto annual report: net profit loss of RMB 11.19 billion in 2019

 Zhongtai auto annual report: net profit loss of RMB 11.19 billion in 2019

On the evening of June 18, Zhongtai Motor Co., Ltd. in trouble broke out a big thunder. The company issued the revised notice of performance forecast, saying that it had expected the net profit in 2019 to be about 6 billion yuan - 9 billion yuan; after the revision, it was expected to be about 10.8 billion yuan - 11.5 billion yuan for the whole year.

Affected by the adverse news, Zhongtai Motor Co., Ltd. ended down 2.6% on June 19, with a total market value of 3.711 billion yuan, which means that the loss amount of Zhongtai Motor Co., Ltd. in one year is more than twice the current market value of the company.

Its worth noting that because Zhongtai automobile cant pay back, its upstream battery supplier, BIC battery, has also been hit. Even new Zebang, rongbai technology, dangsheng technology and Hangke technology, which once had business relations with BIC battery, staged serial bombing in four listed companies.

BIC battery has been providing power batteries for Zhongtai new energy since 2014. In 2018, BIC battery supplied 18900 new energy vehicles to Zhongtai, accounting for about 60% of the latters new energy vehicles in that year. From the second half of 2018, Zotye began to pay back to bick battery, even after receiving 60 million yuan of new energy subsidies, it still did not settle the debt. After Zhongtai defaulted as much as 621 million yuan, in May 2019, bick battery had to ask the court to freeze more than 40 million yuan of property of several companies of Zhongtai series.

Bick battery told AI finance and economics that the lawsuit against Zhongtai is still in the first instance.

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