With the rapid development of domestic automobiles, the pattern of the automobile market is also undergoing different changes. Some enterprises that rely on the capital market and do not have their own hematopoietic capacity have begun to explode one after another and have been eliminated. And some traditional automobile manufacturing enterprises, although they still have a shell, have gradually become marginalized in the face of heavy crises. This is Zotye Automobile.
Of course, Zotye has not given up, and still adopts the practice of "robbing Peter to pay Paul". However, faced with the pressure of the market and products, Zotye, which is no longer in high spirits when Zotye T6 and SR9 models were sold, is powerless. Now, because the debt cannot be repaid at maturity, the creditor banks have begun to sit still and start to sell to Zotye Automobile, and the pressure faced by Zotye Automobile has further increased.
on September 17th, *ST zotye announced that due to the failure to repay the loan and interest of 15 million yuan, Zhejiang Yongkang rural commercial bank, the creditor, applied to the court for pre-restructuring zotye automobile. At present, Zotye has received the "Application for Pre-reorganization" submitted by the creditor to Yongkang Court, but has not received the notice of the court's acceptance and registration of Zotye's pre-reorganization.
According to the announcement, in August 219, with the support of the government, four banks provided Zotye Auto with a loan of RMB 3 billion for the company to resume production in stages. Among them, Zhejiang Yongkang Rural Commercial Bank provided Zotye with a loan of 15 million yuan, with an annual interest rate of 4.35% as stipulated in the contract. The loan period is one year from the date of withdrawal of the first loan fund, and Zotye should pay off all the debts owed before the end of the loan period. After Zhejiang Yongkang Rural Commercial Bank issues the loan, Zotye shall pay the interest until March 2, 22, and the loan will expire on August 14, 22.
zotye automobile has made a prompt for the company's own risks in response to the creditor's application. At present, Zhejiang Yongkang Rural Commercial Bank has submitted an application for pre-reorganization to Yongkang Court, but it is still uncertain whether the application can be accepted and registered by Yongkang Court, whether Zotye will enter the pre-reorganization procedure, and whether the pre-reorganization will be successful.
At the same time, Zotye shares are at risk of suspension of listing. According to the relevant provisions of the Stock Listing Rules, if Zotye's 22 financial report is still issued with negative opinions or audit reports that cannot express opinions, the company's shares will be suspended from listing. The 219 financial report released by Zotye Automobile shows that its operating income during the reporting period was 2.986 billion yuan, a year-on-year decrease of 79.78%; In terms of net profit, it lost 11.19 billion yuan, a year-on-year decrease of 1498.98%. For Zotye Auto's 219 annual financial report, the audited Duty International Accounting Firm (special general partnership) said in the audit report that it could not express its opinions.
according to this audit opinion, Shenzhen Stock Exchange implemented "delisting risk warning" for Zotye stock trading, and its stock abbreviation was changed from "Zotye Automobile" to "*ST? Zotye, if the 22 financial report fails to pass the audit of the audit company, Zotye will be suspended from listing.
zotye automobile has not fallen yet, but it faces multiple difficulties. The financial report for the first half of 22 shows that the company's revenue in the first half of the year was 77 million yuan, a year-on-year decrease of 76.69%; The net profit was a loss of 1.34 billion yuan, further expanding than the net loss of 29 million yuan in the same period of last year. Due to the deterioration of Zotye's performance, many accounts receivable may not be recovered. The semi-annual financial report shows that Zotye's book balance of accounts receivable with bad debt provision in the first half of the year is * * * 3.887 billion yuan, and bad debt provision is 782 million yuan. The Shenzhen Stock Exchange believes that all the above bad debts are expected to be unrecoverable.
in addition to the disastrous performance, zotye motor's market performance in the first half of this year was also bleak. in the first half of this year, zotye motor produced a total of 574 cars and sold 1417 cars. As of 11:15 am on September 18th, the market value of Zotye Company was only 2.94 billion yuan.
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It can be seen that the current situation of Zotye Automobile is already very severe, and it is only the best policy to rely solely on financing. After all, the core of the competition in the automobile industry is the competition of its own blood-returning ability and technical ability of reserve heart. Only by working hard on product strength can we get the reputation of consumers, otherwise, it is doomed not to go higher and further.
This article comes from the author of Chejia, car home, and does not represent car home's standpoint.