Qoros auto equipment was auctioned for 126 million yuan, with only 2651 yuan in the account. Yao Zhenhua once invested more than 53 billion yuan

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Qoros, which has almost disappeared from the public eye, has attracted attention because of an auction information.

Recently, according to the information on the official website of Ali Judicial Auction, the People’s Court of Wuhu Economic and Technological Development Zone, Anhui Province issued an auction announcement. The target is the automobile production line equipment of Qoros Automobile Co., Ltd. , The shooting time will start at 10:00 am on December 16.

According to the auction information, the auto production line equipment of Qoros Automobile will be auctioned as a whole this time. The auction equipment mainly includes 2 special hemming machines, robot automatic spraying system, LASD robot station project in the painting workshop, final assembly equipment, etc.

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Image source: Ali judicial auction official website

According to the Ali Judicial Auction website, “The equipment is stored in the factory area of ​​Qoros Automobile (Changshu City, Jiangsu Province). The appearance is average, and the maintenance status is average. Most of the power has stopped running, and some equipment is still running with electricity.”

In response to this matter, a reporter from “Daily Economic News” asked Baoneng Group, the major shareholder of Qoros Automobile, for confirmation, but no reply was received as of press time.

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Image source: Judicial Auction Website

Regarding this news, some netizens “sighed unceasingly”, lamenting that “the brand with the most design sense back then has fallen to such a point”.

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Image source: Screenshot of Sina Weibo

According to Qixinbao , as of now, there are 2,704 pieces of risk information about Qoros Automobile, and it has been listed as a dishonest person subject to enforcement by the people’s courts in Xianyang, Guangzhou and other places.

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Image source: Qixinbao

When the reporter consulted the China Judgment Documents Network, it was found that a document entitled “Changshu City People’s Court Enforcement Ruling, Jiangsu Province” released on November 27 this year showed that the Changshu City People’s Court sent financial institutions and online payment institutions through the network enforcement investigation and control system. , insurance institutions, securities institutions, real estate registration departments, vehicle registration departments, and market supervision departments issued inquiry notices. After analyzing the property inquiry feedback, it was found that the deposit under the name of Qoros Automobile was only 2651.30 yuan.

At the same time, the real estate and vehicles of Qoros Automobile have been seized dozens of times. The Changshu City People’s Court conducted an on-site investigation of Qoros Automobile’s business premises and found that Qoros Automobile had been shut down and its machinery and equipment had been seized.

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Image source: China Judgment Documents Network

In fact, according to the reporter’s understanding, the terminal sales and maintenance of Qoros Automobile have come to a close in the first half of this year. As early as May this year, a car dealer who used to act as an agent for Qoros told reporters: “We no longer sell Qoros cars. We can still do car repairs , but many parts are gone. You can only go to the market to find some accessories.”

However, the official Weibo of Qoros Auto is still being updated and promoted, and the latest update time is November 25; the last update of Qoros Auto’s WeChat official account is on September 29. The tweet said, “Qoros Automobile service outlets continue to expand, and the number has increased to 90.”

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Image source: WeChat official account of Qoros Automobile

Qoros Automobile, born in 2007, once carried the dream of Chery Automobile. Yin Tongyue, chairman of Chery Automobile, once said, “Audi is the idol of Qoros Automobile, and Qoros Automobile will be China’s Hyundai.” At that time, Qoros Automobile’s first car aimed its competition at Volkswagen Sagitar. But in the follow-up, the development of Qoros Auto was unfavorable and became an abandoned child.

At the end of 2017, the “rich and powerful” Baoneng Group began to invest in Qoros, and then became a major shareholder of Qoros through the acquisition of equity. At that time, Baoneng Group paid a lot of money to invite a large number of experienced executives. Yao Zhenhua, the head of Baoneng Group, once said that 50 billion yuan will be spent on the research and development of new products of Qoros Automobile, and 26 new models are expected to be launched by 2022.

With the intervention of Baoneng Group, Qoros Automobile has indeed ushered in a short “high-speed growth period”. In 2018, Qoros sold 63,000 vehicles, a year-on-year increase of 320%. But behind the growth is Baoneng Group’s use of its travel platform Linkage Cloud to boost sales in the short term. Since then, Baoneng Group has failed to recover the sales decline of Qoros Automobile. According to public data, from 2019 to 2021, the sales volume of Qoros Automobiles will be 22,700, 13,100, and 5,200 respectively.

Today, Baoneng Group, which once brought hope to Qoros, is also in trouble. At the beginning of 2021, Baoneng Group was exposed to deep financial problems, and the auto sector began to lay off large-scale employees. In 2021, Yao Zhenhua began to “survive with a broken arm” and dispose of assets in order to withdraw funds.

However, in May of this year, a staff member of Baoneng Group also told reporters that Baoneng Group has not given up on the auto sector. “Baoneng Group is still in a liquidity dilemma. Now the external environment is much worse than expected, including the asset disposal of Baoneng Group. From the perspective of the company, the most important thing now is to ensure the smooth disposal of assets. Pay back, and then slowly get out of the liquidity dilemma. Judging from the previous statements and specific actions, Baoneng Group must still be gritting its teeth.” The above-mentioned Baoneng Group staff said.

According to Qixinbao, at present, the total amount of risk information involved in Shenzhen Baoneng Investment Group Co., Ltd. (Baoneng Group) has exceeded 9999, and it has been listed as an executor by several local courts.

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Image source: Qixinbao

It is worth noting that Baoneng Group is not an isolated case of real estate developers entering the automotive industry. Evergrande Group , which has invested 45 billion yuan in the car manufacturing business for three years, also has the same idea. However, Evergrande Motors has recently been caught in a storm of wage arrears and staff reductions. On December 2, a relevant person from Hengchi Automobile revealed to reporters that the overall proportion of optimization and elimination this time is 10%, and some business lines may be higher than this number, and another 25% of employees will stay without pay for 1 to 3 months. This means that Evergrande Group’s road to car manufacturing is full of uncertainties.

Some people believe that the plight of Baoneng Group and Evergrande Group has given the outside world a more intuitive understanding of the difficulty of cross-border car manufacturing. The automobile industry, known as the “Pearl of Industry”, has always been known for its rigor. It is not easy to build cross-border cars, and it is by no means a one-day job.

Source of cover image: Photo by reporter Zhang Jian (data image)

This article is from the WeChat public account “NBD Auto” (ID: NBD-AUTO) , author: Huang Xinxu, 36 Krypton is authorized to publish.

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