Sailin, baowo, hanteng... These car brands disappeared in a hurry before people could even remember their names One month before and after that, the news of bankruptcy and auction of three new car making enterprises came out successively Beijing baowo, once known as "bbba", made new progress in bankruptcy at the end of April; Hanteng automobile, once known as the "Pearl of Shangrao", also heard the news of bankruptcy and reorganization at almost the same time; The sailin car, which burned up $5.6 billion but only built a "elderly Scooter", will be auctioned off on May 30.
Text / Liu Shanshan
Source: Shandong Automobile Circulation Association
More than that. On May, Shandong Automobile Association issued a warning document on automobile brands. The association said that Baoneng automobile has serious business problems at present, which makes the legitimate consumption rights and interests of Guanzhi brand owners unable to be guaranteed and seriously damaged.
Yao Zhenhua, who spent a lot of money to acquire 51% shares of Guanzhi automobile in 2017 and said that "Baoneng group's entry into the automobile industry is a deliberate strategic action", has also become another entrepreneur who has failed in the great cause of automobile manufacturing.
"Making cars is a near death. Most of them are just dying." But in fact, the temptation of success will still attract the continuous influx of capital. Now, "Wei Xiaoli" has crowded into the center of the car making stage to share with fuel vehicles and enjoy flowers and applause. Including ai'an, Zero run and Nezha also began to expand the market scale. Not to mention [Tesla] with market value and sales volume flying together( http://stock.finance.sina.com.cn/usstock/quotes/TSLA.html ) Yes.
Perhaps successful enterprises are too dazzling, which makes latecomers advance one after another like moths to the fire. According to public data, there are more than 100 enterprises in the field of "newly built cars". More attracted such as Xiaomi , didi , Huawei, 360 and other cross-border giants poured in. We all know the truth of "losing money before building a car". For example, Lei Jun once said bluntly: "we can afford to lose money. The balance accumulated by Xiaomi in the past 10 years is 108 billion yuan."
Source: Xiaomi automobile
From "spending a lot of money" to "one chicken feather"
The story of the new forces of car making is often full of the meaning of "money and willfulness". The story of burning up billions or even tens of billions without producing mass-produced cars has been staged over and over again.
Wang Xiaolin, former chairman and former CEO of Jiangsu sailin, once revealed in an interview that by may 2020 alone, the total amount of money spent by sailin in car manufacturing had reached about 5.611 billion yuan.
Sailin Maimai bird's nest press conference (picture source: sailin automobile)
At a cost of more than 5 billion yuan, sailin only built an A0 class pure electric mini car with a range of 305 kilometers, "sailin Maimai". The subsidized model with a price of 158800 ~ 168800 yuan was unveiled at the "sailin night" new car press conference held by bird's nest in 2019. It is said that the press conference alone cost more than 100 million yuan. According to the sales data of that year, only 9 cars were sold after the car was launched.
More dramatically, since then, Wang Xiaolin was reported by his real name as "embezzling 6.6 billion state-owned assets" and "fled" to the United States, thus winning the title of "the second Jia Yueting". Tianyancha information shows that up to now, sailin automobile has been listed as dishonest Executees 58 times and 10 times, with a total amount of 2.74 billion yuan.
According to Ali According to the judicial auction platform, the first auction of the land use right, aboveground buildings, machinery, equipment, production lines and other assets of Jiangsu s Automobile Company located in Rugao City, Nantong will be held on the morning of May 30. And Jiangsu s Automobile Company, namely sailin automobile.
In the "new car building movement", it is not only sailin automobile that "spends a lot of money" but finally moves towards "one chicken feather". Judging from the investment amount announced earlier, hanteng automobile and baowo automobile burn more money.
Hanteng automobile once claimed to invest 13.7 billion in Shangrao to build a production base. Now, it is said that hanteng automobile is about to complete bankruptcy and reorganization, and hanteng automobile phase I plant will be sold to Great Wall Motors at a low price.
According to the information of enterprise investigation, hanteng Automobile Co., Ltd. was listed as the executor by the people's Court of Guangxin District, Shangrao City, Jiangxi Province. The subject matter of execution was 871800 yuan. The filing date was April 21, 2022, and the case number was (2022) Gan 1104 No. 925. The company has been involved in 346 judicial cases, of which 95.38% are defendants and 31.5% are sales contract disputes. In addition, there are 143 records of historical Executees, with a total amount of about 404 million yuan.
At the same time, baowo automobile, once known as "bbba", also has a similar fate. As early as 2013, baowo Beijing Miyun factory has started the project construction. After the completion of phase II project in 2018, it has an annual production capacity of 360000 complete vehicles. At the same time, baowo automobile also signed a major strategic cooperation framework agreement with Jiaxing Municipal People's Government in Hangzhou, Zhejiang Province to build a manufacturing base in Jiaxing. The whole project investment reached 20 billion yuan and was implemented in three phases. Among them, the third phase project is baowo automobile complete vehicle project, with a total investment of 10 billion yuan, that is, the second baowo factory.
Nowadays, baowo automobile is also inevitable to go bankrupt. On the evening of April 22, Foton Motor announced that Beijing baowo received the civil ruling (2022) Jing 01 Po Shen No. 155 issued by Beijing No. 1 Intermediate People's Court (hereinafter referred to as the "court") on April 22, 2022, ruling to accept Beijing baowo's application for bankruptcy liquidation.
In fact, the fall of the new forces of car making is nothing new. Previously, Bojun automobile, which had experienced six rounds of financing and was finally unable to go bankrupt and restructure, burned out 8.4 billion Baiteng automobile that did not build a mass-produced vehicle, burned out 5.1 billion Changjiang automobile that did not see the bankruptcy liquidation of mass-produced vehicles, etc.
It is often only a few years before the new forces of car making have finished the process of "raising high-rise buildings, banquet guests and building collapse".
The law of the jungle, capacity reset
At the beginning, we spent a lot of money to build factories. With the bankruptcy and liquidation of the brand, most of the valuable assets left are only production bases and factories, which is the main reason why the capacity utilization rate of the automobile industry is only more than half.
In contrast to the rapid decline of these brands, there are still many brands in the industry with insufficient production capacity and short supply. The two complement each other, and the capacity replacement of the automobile industry is also opened.
Recently, a source close to hanteng revealed that hanteng will complete the bankruptcy reorganization in the near future. After the completion, hanteng's phase I plant will be sold to Great Wall Motors at a low price. But for this statement, neither side has made a clear statement.
Such rumors have also been around for a long time: last June, when the utilization rate of hanteng's production capacity was almost zero, Great Wall Motors officially announced that the whole vehicle and parts production base project of Great Wall Motors was settled in Shangrao economic and Technological Development Zone, Jiangxi Province, and officially took over hanteng's phase II plant.
In addition to the acquisition of hanteng motor phase II plant in Shangrao, Jiangxi Province and Hanlong motor plant in Daye, Hubei Province, Great Wall Motor, which is expanding rapidly, also heard the news that Zhongtai Linyi production base was acquired by Great Wall Motor in February this year. According to the "2025 strategy" plan of Great Wall Motors, Great Wall Motors will achieve the goal of global annual sales of 4 million vehicles and operating revenue of more than 600 billion yuan in 2025. Among them, 80% will be new energy vehicles, and the R & D investment in the next five years will reach 100 billion yuan.
With the acceleration of the reshuffle of the automobile industry, the situation of capacity replacement has been quite common. At the end of 2020, Dacheng automobile sold its production base in Jintan, Wuxi, Jiangsu to maverick electric Its new power brand "niutron self tour home" sold its Fuzhou production base to BYD at the end of last year.
In 2021, the new power of car making ideal Auto invested 6 billion yuan to take over the plant and land resources of Beijing Hyundai No. 1 factory and build the global flagship factory of ideal auto. In February this year, it was also reported that Dongfeng Honda took over the second plant of DPCA in Wuhan Economic and Technological Development Zone. It is reported that after taking over the Shenlong factory, dongben will transform it into a new factory specializing in the production of pure electric models.
Analysis of passenger car production capacity by enterprise sales volume in 2021 (picture source: Passenger Federation)
According to the data of the association, 86 enterprises had sales in 2021. Among them, the sales volume of 29 enterprises is less than 10000. The production capacity of these enterprises accounts for 13% of the total, while the sales volume only accounts for 0.46% of the total, and the average capacity utilization rate is only 2.02%. Obviously, these enterprises have serious "overcapacity" and will also become the main object of capacity replacement.
A new round of automobile production capacity replacement triggered by capital has gradually become a sweeping trend.