Byd Company Limited(002594) has taken over the bankruptcy and reorganization of Niu Chuang's rental of Dacheng automobile in Jintan base of Fuzhou base entered the countdown?

The sound of mixers, the sound of consignment trucks and busy workers... This is what the reporter of the daily economic news saw when he visited Jiangxi Daheng automobile science and Technology Industrial Park (hereinafter referred to as Daheng Automobile Industrial Park).

"The construction team here is not the project construction team of Dacheng automobile (i.e. Dacheng Automobile Group Co., Ltd.), but the Byd Company Limited(002594) project construction team. Dacheng automobile has long been bankrupt, and now it is Byd Company Limited(002594) ." He Dong (a pseudonym), a staff member at the scene, told reporters.

An unnamed insider also told reporters that the relevant competent departments of Fuzhou City, Jiangxi Province have transferred the production base of Dazheng automobile in Fuzhou to Byd Company Limited(002594) to build its supporting projects of new energy automobile industrial park.

As for whether to take over the Dazheng automobile Fuzhou production base completely, Byd Company Limited(002594) relevant staff only told reporters: "the company is a production base arranged according to its own industrial needs. At present, there is no relevant information to be disclosed. We will make relevant dynamic explanations later."

It is worth mentioning that it is reported that Changzhou Jintan production base, another production base of Dacheng automobile, has been taken over by the newly established automobile manufacturer niuchuangxin Energy Technology Co., Ltd. (hereinafter referred to as niuchuangxin energy). However, a person close to Niu innovative energy told reporters, "Niu innovative energy employees do settle in Dacheng automobile Jintan Industrial Park, but at present, they only rent Dacheng automobile's office buildings and factories, and will choose the opportunity to buy them later."

Byd Company Limited(002594) plant construction has been started

When you enter the Dacheng Automobile Industrial Park, you can see the empty area, which is a little lonely. On the plot close to the Dacheng Automobile Industrial Park, it is another scene.

Buildings have been built for the construction staff and the roaring cement mixer. According to He Dong, the Byd Company Limited(002594) staff dormitory building is built next to the Daheng automobile industrial park. At present, the ceiling of the dormitory building has been completed, and now the construction personnel have entered the building and started painting the wall.

At the temporary entrance of the construction site marked with " Byd Company Limited(002594) Construction Engineering Co., Ltd. - Byd Company Limited(002594) supporting project of Fuzhou new energy automobile industrial park", you can see red banners hanging on the buildings on both sides wishing " Byd Company Limited(002594) (Fuzhou project) dormitory building good luck".

The reporter checked the online approval and supervision platform of investment projects in Jiangxi Province and found that Byd Company Limited(002594) the supporting project of Fuzhou new energy automobile industrial park has a total investment of about 2.677 billion yuan and a total area of about 450 mu. It has newly built parts plants, warehouses, staff dormitories, canteens and other supporting facilities, and added supporting equipment. It was started in 2021 and completed in 2023.

Source: Official Website of Jiangxi investment project online approval and supervision platform

According to the site construction personnel, in addition to the capped staff dormitory, Byd Company Limited(002594) factory is planned to be built opposite the dormitory building. "I have been here for several months, and the construction site has not been interrupted." He Dong said.

During the visit, the reporter also found that the construction site opposite the dormitory building has begun earthwork construction. It can be seen from a distance that the tower crane, ground pump and other large construction machinery on the construction site have been built and started operation. "The ground pump in operation is pouring concrete to the ground. After the concrete is poured, a large number of workers such as carpenters, steel bars and cement begin to intervene one after another and officially start construction." Yang Tao (a pseudonym), who has been working on the construction site for a long time, told reporters.

According to the automobile commune, in addition to continuing to use the production base of Dacheng automobile, the investment and expansion project of Byd Company Limited(002594) was officially started on September 24 this year, covering an area of about 800 mu. In this regard, the reporter verified with Byd Company Limited(002594) and the other party only replied: "there is no news to disclose."

The above-mentioned insider, who asked not to be named, told reporters: "since last year, there has been a crisis in the operation of Dazheng automobile, and the local government has been looking for buyers for it. Byd Company Limited(002594) 'taking over' is a win-win situation for both sides. For Byd Company Limited(002594) Generally speaking, it can take land to build factories at a low price and get the policy support of the local government. For local governments, idle resources can be revitalized. "

production qualification has not been transferred

According to public information, Dacheng automobile was established in December 2014, formerly known as Jiangsu Jintan changdanghu New Energy Technology Co., Ltd., renamed Dacheng Automobile Co., Ltd. in July 2018 and changed to the current name "Dacheng Automobile Group Co., Ltd. in April 2019.

The legal representative of Dacheng automobile is Wu Xiao, the son of Wu Jianzhong, the former chairman of Zhongtai automobile. The registered capital of the company is 3.5 billion yuan. Its business scope includes R & D and application of new energy vehicle technology, industrial investment (it is not allowed to engage in financial and other financial businesses, except those that need to be licensed and filed according to law), automobile manufacturing and sales; Engaged in the R & D, application and technology transfer of automobile technology.

Jiangxi Dacheng Automobile Co., Ltd. (hereinafter referred to as Jiangxi Dacheng automobile) located in Fuzhou was established one year after Wu Xiao took over Dacheng automobile and participated in the restructuring of Jiangxi Jiangling Group Light Automobile Co., Ltd. (hereinafter referred to as Jiangling light automobile).

According to the data of qixinbao, in May 2017, Dacheng automobile signed a restructuring agreement with Jiangling light truck, with a shareholding ratio of about 49.47%, becoming the largest shareholder of Jiangling light truck. In January 2018, Jiangling light truck was officially renamed "Jiangxi Dacheng Automobile Co., Ltd." and the shareholding ratio of Dacheng automobile was adjusted to 67%. Dacheng automobile also obtained the production qualification of Jiangling light truck.

It is reported that Jiangling light truck owns the "Qiling" brand and plans "Qiling" series models such as light truck, MPV and SUV.

In September 2018, Dacheng automobile released the "Dacheng automobile" brand, making it clear that Dacheng automobile is positioned as a young and fashionable brand-new independent automobile brand. So far, Dacheng automobile has two major brands: Dacheng automobile and Qiling automobile.

In addition, Dacheng automobile also took over the original Jintan production base of Zhongtai automobile. Therefore, Dacheng automobile has two production bases in Jintan and Fuzhou, with qualifications covering passenger cars, commercial vehicles and new energy vehicles. It has become an enterprise with the qualification of manufacturing complete vehicles of traditional energy vehicles and new energy vehicles.

However, Byd Company Limited(002594) although the supporting project of Fuzhou new energy automobile industrial park has been started, its restructuring of Jiangxi Dacheng automobile is not progressing very smoothly. "So far, the production qualification of Jiangxi Dacheng automobile has not been transferred to Byd Company Limited(002594) because the relevant approval has not been passed." The above unnamed insider told reporters.

In this regard, the reporter verified with Byd Company Limited(002594) for the first time. However, as of press time, the other party did not give a reply.

Niu Chuang plans to "rent before buy" Jintan production base

Compared with the transfer problem of Byd Company Limited(002594) production qualification, Niu innovative energy, which is said to have "won" Dacheng automobile Jintan production base, does not have this trouble. "Although Niu innovative energy only rents the Dacheng Automobile Industrial Park, its production qualification has been used by Niu innovative energy." These people close to Niu innovative energy said that Niu innovative energy's first mass production vehicle can only be delivered next year and has not officially started production.

On December 15, Niu Chuangxin energy released the English brand "niutron" and the Chinese brand "ziyoujia". The first product, ziyoujia NV, is scheduled to be listed and booked in the first half of 2022, and the delivery will be started in September of the same year.

According to the data of qixinbao, Changzhou niuchuang Technology Co., Ltd. completed its registration on October 27, 2020; In December 2020, Jiangsu Niu innovative energy technology Co., Ltd. completed its registration. The two companies are registered in the golden altar production base of Mahayana automobile, and the founders are Li Yinan, the former founder of maverick electric.

According to the above insiders close to Niu innovative energy, at present, Niu innovative energy uses the Dacheng automobile science and Technology Industrial Park in Jintan by leasing, and some employees of the company have officially worked here. "Up to now, we haven't officially bought the golden altar production base of Dacheng automobile. We plan to 'rent first and then buy'." Niu innovative energy related staff told reporters that they don't know when they will buy it. They can only say that they will choose an opportunity to buy it.

It is reported that in order to solve the problem of production qualification, Li Yinan planned to realize cross-border vehicle manufacturing through the acquisition of BAIC new energy Changzhou factory before choosing Dazheng automobile. The two sides had negotiations on the acquisition. "Li Yinan did go to BAIC new energy Changzhou factory, but he just went to know about it and didn't talk about acquisition at all." The above people close to Niu innovative energy said that for Niu innovative energy, the production capacity of BAIC new energy Changzhou plant is a little small compared with Dacheng automobile production base.

Public information shows that BAIC new energy Changzhou plant phase I project has formed an annual production capacity of 50000 new energy vehicles. According to Li Yinan, Niu innovative energy Changzhou plant covers an area of 770000 square meters and the overall design capacity is 180000 vehicles / year.

At present, the Jintan production base of Dacheng automobile has been basically completed, and the production equipment in the plant is in normal production state, but it has been idle for some time. "Mahayana automobile Jintan factory already has four process workshops. After Niu innovative energy takes over, it only needs to be reconstructed and upgraded on the existing basis, so that Niu innovative energy can achieve mass production more quickly with less capital." These people close to Niu innovative energy said.

According to Li Yinan, at present, Niu innovative energy Changzhou factory is undergoing transformation and calibration before mass production and will be put into use in March 2022.

"national six" standard is switched to "the last straw"

With Byd Company Limited(002594) and Niu innovative energy "taking over" the two production bases owned by Dacheng automobile, the bankruptcy and reorganization of Dacheng automobile, which has been established for seven years, may have entered the countdown.

In September this year, Jiangxi Dacheng automobile added a new bankruptcy reorganization information, and before that, the company had three bankruptcy case records. On December 7 this year, Dacheng automobile added another bankruptcy and reorganization record.

In fact, only one year after the official release of the "Dacheng automobile" brand in September 2018, Dacheng automobile was exposed to financial difficulties. Since October 2019, there have been continuous news about the salary arrears of Da Cheng Auto employees. The reporter learned from relevant people familiar with the matter that up to now, the problem of defaulting on employees' wages by bus has not been completely solved.

In 2020, Dacheng automobile was also collectively protected by its dealers because Dacheng automobile informed the dealers to stop supplying new cars, but did not fulfill the compensation provisions of the contract, and refused to return the car money paid by the dealers but did not get the new car.

The reporter found that there are three brand models of the company: g70s, G60 and G60s. However, the reporter called several dealers on its official website and found that most of the registered calls were "empty numbers". Even if they could get through, the other party also said that it was selling other models.

The current operating difficulties of Dacheng automobile are closely related to the precooling of its models in the market. According to public data, the cumulative sales volume of Dacheng automobile in 2018 was only 20000. Although the sales volume increased slightly to 25800 in 2019, the arrival of covid-19 epidemic made Dacheng automobile "worse". In 2020, the annual sales volume of the company will be less than 10000.

With the implementation of the "national six" emission standard, the technical capacity of Dacheng automobile can not meet the requirements of the emission standard, and finally can only go to the point of no car production and no car to sell. The reporter found that since 2021, there has been no sales data of Dacheng automobile.

The sluggish performance and worrying financial situation eventually led to the concentrated outbreak of problems such as the unpaid salary of Dacheng automobile employees and the rights protection of dealers. Public information shows that last year, the land of Dacheng automobile production base located in the old urban area of Fuzhou City has been collected, stored and transferred. The Mahayana science and Technology Industrial Park in Jintan, Changzhou was auctioned off in June this year at a price of 1.551 billion yuan.

The above-mentioned person familiar with the matter, who asked not to be named, told reporters that in the face of the great passenger car, the relevant government authorities have been looking for a "buyer" for it in addition to seeking a way to save it.

(Daily Economic News)

 

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