On March 22, in response to the fact that Yao Zhenhua, the actual controller of Baoneng group, was missing mentioned in the (2021) Yue 01 min Chu No. 1750 announcement of Guangzhou intermediate people’s Court of Guangdong Province, Baoneng group told reporters that the relevant information was wrong, the company had communicated and coordinated with the court, and the relevant announcement would be withdrawn in the near future. In the afternoon of March 22, the above announcement has been deleted from the court’s website.
On March 17, Guangzhou intermediate people’s Court of Guangdong Province mentioned in its Announcement No. (2021) Yue 01 min Chu No. 1750, “The court accepted the case of financial loan contract dispute between the plaintiff Development Zone Branch of Bank of Guangzhou Co., Ltd. and the defendants Guangzhou Baoshi Logistics Co., Ltd., Yao Zhenhua, Shenzhen Baoneng Investment Group Co., Ltd. and Shenzhen jushenghua Co., Ltd. because your whereabouts are unknown, you are served with an announcement in accordance with Article 95 of the Civil Procedure Law of the people’s Republic of China (2021) Copy of Yue 01 min Chu No. 1750 civil complaint, evidence materials, notice of response, notice of adducing evidence, notice of notifying members of the collegial panel, online instructions for judgment documents and anti-corruption supervision card. It is mentioned that the defendant is required to repay the plaintiff’s Development Zone Branch of Bank of Guangzhou with the principal balance of 700 million yuan and the interest, penalty interest and compound interest up to the date of principal and interest repayment (the interest is 1429166667 yuan, penalty interest is 0 yuan and compound interest is 0 yuan temporarily until September 29, 2021; from September 30, 2021, the interest, penalty interest and compound interest are calculated according to the provisions of the fixed assets contract). “P align = “center” screenshot source: Xinhuanetco.Ltd(603888)
The word “missing” triggered market speculation. Today, Baoneng group responded to the reporter of the securities times on this matter that the relevant information is wrong, the company has communicated and coordinated with the court, and the relevant announcement will be withdrawn in the near future. In addition, at 9:38 on March 22nd, China’s WeChat official account issued a message. “On March 21, on the first day of the release of the epidemic in Shenzhen, Yao Zhenhua, chairman of Baoneng group, went into Baoneng automobile Shenzhen factory for work inspection, fully understood the production and resumption operation of Shenzhen factory, had in-depth exchanges with the executives of Baoneng automobile group and the management cadres of Shenzhen factory, and comprehensively supervised the key work of Baoneng automobile Shenzhen factory in 2022.” In addition, photos of Yao Zhenhua inspecting the factory are also attached.
According to the official account, the Shenzhen plant has reached 99.4% in March 21st, and has achieved four workshops and functional departments. Yao Zhenhua said at the Symposium on the implementation measures for the operation and development of Baoneng automobile held on the same day that as the first core industry of the “manufacturing Baoneng” strategy, Baoneng Group continued to increase its industrial layout in the automobile industry, especially new energy vehicles, and firmly grasped the strategic opportunities for the transformation and upgrading of the automobile industry in terms of electrification, intelligence and networking. After five years, Baoneng has become an important force in the new energy vehicle track. From the beginning of stepping on this track, Baoneng rejected the “quick” shortcut and chose the road of independent R & D and production with greater investment and the most difficult. In order to win a place in the global automobile market, Baoneng ultimately depends on its independent R & D ability and manufacturing process level.
It can be seen from the public information of Baoneng that Baoneng is still “committed” to the new energy vehicle business. On the Symposium of core cadres of Baoneng automobile group held in September last year, Yao Zhenhua reiterated Baoneng group’s confidence, determination and key measures to quickly solve problems in view of liquidity difficulties. He said that Baoneng group and all sectors are actively overcoming difficulties, and continue to withdraw funds through substantive measures such as accelerating project sales collection, disposing of some high-quality assets, accelerating war investment and financing, and improving operational cash flow. Baoneng has the ability and strength to completely get out of the dilemma within two to three months. In addition, Baoneng also unswervingly promoted the steady development of new energy vehicles.
In view of the liquidity problem, public market information shows that according to the disclosure of Baoneng group in October 2021, in terms of the eight key special assets to be sold, Baoneng group is starting the sale of asset projects in Shanghai, Shenzhen and Guangzhou, such as Shenzhen Baoneng center, old transformation project, Qianhai high-quality project and logistics park asset package project. The above projects involve commercial property, land, commercial complex, old reform and equity of high-quality financial companies, with an estimated value of more than 100 billion yuan. At that time, Baoneng group expected to collect about 20 billion yuan within 3-4 months, and Gongsong said in the announcement that a project had been signed; Other projects are in the signing stage, in close negotiation or looking for interested parties.
