Home > News > Comments > Text The epitome of the tail car company: Hanteng sells the factory at a low price and is about to go bankrupt and reorganize

Under the long-term influence of various factors such as the epidemic, lack of cores, and suspension of production, the "Matthew effect" of Hengqiang, the strong player in the auto market in 2022, will be highlighted.In order to seize market dividends, the leading car companies continue to absorb production capacity, while the tail car companies that have failed in the competition can only exit with hasty acquisitions in this "knockout".

A few days ago, a person close to Hanteng Auto revealed that Hanteng will complete bankruptcy and reorganization in the near future. After the bankruptcy reorganization is completed, the first phase of Hanteng Automobile will also be sold to Great Wall Motors at a low price.

In this regard, Great Wall Motor responded, "At present, we have not received relevant news, and we will implement it as soon as possible." However, it is worth noting that the company's investigation showed that a total of 3 cases were due to Hanteng having multiple due debts that could not be repaid. , and the case of applying for bankruptcy and reorganization of Hanteng on the grounds that the assets are insufficient to pay off all the debts is not accepted by the court, and the most recent date is April 11.

In other words, whether Hanteng can complete bankruptcy and reorganization remains to be discussed.But the decline of Hanteng seems to be a foregone conclusion.

With two braces, the Great Wall takes over again?

According to public information, Tie Niu Group invested and established Hanteng Automobile in Shangrao, Jiangxi in 2013, and is currently held by Lantu Automobile Co., Ltd. and Shangrao Hanteng New Energy Industry Center (Limited Partnership), which are about 70.02% and 29.97% respectively.

Among them, Lantu Auto is a wholly-owned subsidiary of Tengjun Technology, and the legal person and major shareholder of Tengjun was the vice president of Zotye Automobile, a subsidiary of Tie Niu Group, which means that the capital behind Hanteng and Zotye was actually Iron Bull Group.

It's just that in 2020, with Tieniu Group and Zotye Automobile successively declaring bankruptcy, Hanteng's operations are also difficult to maintain. After multiple rounds of layoffs and employee resignations, after the explosion of the factory was stopped, and the production equipment was mortgaged, Hanteng Automobile has already existed in name only. .

Looking back, 2018 was the peak of Hanteng Motors, when sales at that time increased from 37,000 to 69,300.However, since then, Hanteng Motors has started a cliff-like decline. In the three years from 2019 to 2021, its annual sales are only 40,000, 10,475, and 748.

Although sales are not good, Hanteng has two major production bases with an annual production capacity of 350,000 vehicles.Among them, the first phase of the factory will invest 3.7 billion yuan, with an annual production capacity of 150,000 vehicles; the second phase will invest 10 billion yuan, with a planned annual production capacity of 200,000 vehicles.

In June last year, when the capacity utilization rate of Hanteng was almost zero, Great Wall Motor officially announced that Great Wall Motor's vehicle and parts production base project was settled in Shangrao Economic and Technological Development Zone, Jiangxi Province, and officially took over the second-phase plant of Hanteng Motors.

However, at that time, Hanteng Automobile executives said in an interview with reporters that Great Wall Motors only invested in the purchase of Hanteng Automobile's second-phase factory and the equipment in the factory, and did not participate in the restructuring of Hanteng Automobile.And this time, the Hanteng Phase I factory under the Great Wall may still be the same.

Shut down and turn, the tail car companies are "divided up"?

"In order to build a moat for the large-scale transformation of new energy tomorrow, leading car companies are frantically expanding their production capacity." An industry insider told "Automo bile Talk" that most of the production bases and equipment of "Zhongtai" car companies have been Taken over by the local government, it can be purchased at a low price without participating in the reorganization of car companies.

As soon as Great Wall acquired the Linyi Zotye production base in February this year, it stated that the contracting parties of the project were Great Wall Motors and the Linyi Municipal Government, and no other third parties were involved, nor had any relationship with Zotye.

It is also in this way that Great Wall has successively signed the Hanteng Phase II factory with a production capacity of 150,000 vehicles, the Hanlong factory with a planned production capacity of 100,000 vehicles, and the Zotye Linyi factory with a production capacity of 120,000 vehicles. The 300,000-vehicle production capacity of the first phase of the factory, as well as the existing Tianjin Base, Baoding Factory, Xushui Smart Factory, Rizhao Factory, Yongchuan Production Base, Taizhou Factory, Pinghu Factory, Zhangjiagang Base, and Jingmen Factory, Great Wall Motor's total production capacity has been More than 3 million vehicles.

However, it is not only the Great Wall that has acquired the "Zhongtai" series of car companies.As a brand separated from Zotye, at the end of 2020, Dacheng Motor sold its production base in Jintan, Wuxi, Jiangsu to the new power brand "NIUTRON" under Maverick Electric, and sold its production base at the end of last year. The Fuzhou production base was sold to BYD.

"With the addition of new energy vehicles, the competition in China's fuel vehicle market will become more intense. In the past year, there were 85 brands in the traditional fuel vehicle market, 34 brands with monthly sales of less than 1,000 units, and 9 brands died." Changan Zhu Huarong, chairman of the auto industry, believes that in the next 3-5 years, 80% of Chinese fuel brands will be shut down and replaced.

And this phenomenon has appeared since the second half of 2020.It is understood that since 2020, the factories of nearly 15 marginal car companies have been taken over. In addition to taking over the factories of the "Zhongtai" series, there are also the original Shenlong No. 2 plant taken over by Dongfeng Honda, and the Guangzhou factory of Guangfei Ke, which was taken over by GAC Aian. major factories.

However, selling the factory and completing bankruptcy and reorganization does not mean that it will be smooth after that.

For example, Lifan and Brilliance Zhonghua, which filed for bankruptcy and reorganization in 2020, established a joint venture with Geely to start the power exchange field and restarted the auto business, but the latter is still rumored to be acquired by BMW and still bears huge losses , without taking a substantial step.

Another example is the completion of bankruptcy and reorganization at the end of the year. To restore and optimize the traditional automobile business, Zotye, which has made efforts in the online car-hailing and micro-electric vehicle business, is still suspended.

"The company's vehicle business is still in a state of suspension." On April 20, when an investor asked about Zotye's latest business on the investor exchange platform, Zotye said that there has been no significant progress in its online car-hailing business, and autonomous driving Auxiliary system development is at a standstill.For a time, Zotye seemed to have returned to the precarious eve of the reorganization.

And in this, who will Hanteng be next?