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Baoneng says the company is not "empty"

Publish Date: 2022.05.12

  Recently, a document of Shandong Automobile Dealers Association's "Consumption Warning on Qoros Brand Cars" was circulated on the Internet, showing that the Shandong Automobile Dealers Association's consumer rights protection workstation has received many complaints from Jinan Qoros car owners who have no after-sales 4S shop maintenance.


  On May 10, the Shandong Automobile Dealers Association stated that after the association has learned from various parties, Baoneng Automobile, a subsidiary of Baoneng Group, is currently experiencing serious business problems, and no one has responded so far. Therefore, the association has included the Baoneng Qoros brand in consumption. Blacklist and warn consumers to be cautious about buying Qoros brand cars.


  (Source: original announcement)


  According to the investigation by the association, the four Baoneng Qoros direct-sale stores in Jinan have been closed, and the factory service number has also been cancelled. For this reason, the association sent an inquiry letter to "No. 2088, Bao'an North Road, Luohu District, Shenzhen", where the headquarters of Baoneng Group, to which the Qoros brand belongs, was mailed. The letter was also returned because people went to the building. Shandong Automobile Dealers Association stated that after the association has learned from various parties, Baoneng Automobile, a subsidiary of Baoneng Group, is currently experiencing serious business problems, and no one has responded so far. For this reason, the association has included the Baoneng Qoros brand on the consumer blacklist and warned it. Consumers are cautious about buying Qoros brand cars.


  Caijing.com Auto contacted a number of relevant staff who had previously worked for Baoneng Auto regarding the above situation, and were informed that they had all resigned. No valid response has been received as of the time of writing.


  According to the Securities Times on May 11, it was learned from relevant persons at Baoneng Shenzhen headquarters that the news was misunderstood. Due to the relocation of Baoneng headquarters, the inquiry letter was not delivered successfully, resulting in a misunderstanding of "people go to the building empty". It is understood that the headquarters of Baoneng Group has been moved from Shum Yip Logistics Building to Shenzhen Baoneng Center. The reporter saw in the Baoneng headquarters "No. 2088, Bao'an North Road, Luohu District, Shenzhen" shown in the document that the building is called Shenye Logistics Building, which has been fenced for construction.


  On May 11, Blue Whale Auto reported that the relevant person in charge of Baoneng Automobile stated that due to the change of the company's office location, the inquiry letter could not be delivered, resulting in a misunderstanding of "people go to the building empty". Regarding the question of whether the owners of Jinan Qoros can go to the 4S store for normal maintenance, the person in charge said that Baoneng Automobile Jinan Jiyang store is in normal operation and can provide relevant after-sales maintenance services, and the national service hotline of Baoneng Automobile is also in normal service. middle. At the same time, Baoneng Motors is actively developing authorized maintenance service providers. It is expected to cover 300 cities and more than 500 maintenance service providers by the end of the year to meet customers' after-sales service needs.


  According to public information, Qoros Automobile was established in 2007. During the period under the control of Chery Automobile, Qoros Auto's sales continued to be sluggish, and its performance also suffered losses year after year, with a loss of 2.2 billion yuan in 2014, a loss of 2.5 billion yuan in 2015, and a loss of 1.9 billion yuan in 2016.


  Since the establishment of the automobile company in March 2017, Baoneng has started the layout of cross-border car manufacturing. At the end of 2017, Baoneng Group spent 6.63 billion yuan to acquire 51% of the shares of Qoros, officially becoming the controlling shareholder of Qoros, and later increased the price of 1.56 billion yuan to buy 12% of the shares. Now Baoneng Group holds Qoros 63% stake in Auto.


  In December 2019, Shenzhen Qianhai Ruizhi Investment Co., Ltd., a subsidiary of Baoneng Group, acquired the equity of Changan Peugeot Citroen and provided OEM for the DS brand under Peugeot Citroen. In August 2020, Qoros 7 was released, becoming the first product launched after Baoneng Group strategically controlled Qoros Auto.


  After being acquired by Baoneng Group, Qoros Auto’s sales have increased significantly in a short period of time, but it has not yet reached a large scale. Over the years, only one new model of Qoros 7 has been launched, which has not caused waves in the market. Today, the major auto manufacturing bases of Baoneng Group are even more "a mess", and the Guangzhou base that started construction at the earliest has not been completed.


  (Photo source: Baoneng official website)


  On September 3, 2020, at the "Baoneng Group-Central Radio and Television Station Strategic Cooperation Conference and Brand Power Project TOP Brand Signing Ceremony", Baoneng Automobile Group Executive Vice President Otani Junming revealed that the group is planning to establish a high-end brand. The car brand will be positioned higher than Qoros.


  On November 5, 2020, Baoneng Automobile Group announced that the green and smart factory in its Xi'an base will be officially completed and put into production in the near future. On November 8, the Xi'an base of Baoneng Automobile Group was officially completed and put into production. At the same time, the first model of the xEV platform rolled off the production line, which is an extended-range electric vehicle based on the Qoros 3.


  The Xi'an base is the third vehicle manufacturing base of Baoneng Automobile Group to be put into production after the Changshu Qoros Manufacturing Base in Jiangsu Province and the Baoneng Automobile Manufacturing Base in Shenzhen (formerly the Changan PSA Manufacturing Base), and the first self-built and put into production by Baoneng. vehicle manufacturing base.


  Baoneng Automobile once told Caijing.com that the Xi'an base green and smart factory is located in Qinhan New Town, Xixian New District. After the factory is fully operational, it can achieve an annual output value of 45 billion yuan and a comprehensive tax revenue of over 2.5 billion yuan.


  On February 1, 2021, Caijing.com learned from Tianyan that Baoneng New Energy Vehicle Charging Service (Guangzhou) Co., Ltd. was recently established. The legal representative of the new company is Wang Yanming, with a registered capital of 10 million yuan. Equity information shows that the company is 100% owned by Baoneng New Energy Automobile Group Co., Ltd.


  At that time, according to the plan, Qoros, a subsidiary of Baoneng Automobile, will continue to implement the development path of “both gasoline and electricity”. From Qoros 7 onwards, at least 1-2 new models will be launched every year. To MPV, from traditional fuel vehicles to new energy vehicles, from A0-class to B-class models.


  Baoneng, which started relatively late in car manufacturing, began to work hard to "poach" executives of major car companies. On February 23, 2021, Baoneng Automobile Group announced that Guan Yu, the former vice president of Geely Holding Group, member of the operation management committee, and general manager of the procurement company, joined the company a few days ago as the executive vice president of the group, and is jointly responsible for overall operation and management with Otani Junming .


  At present, Baoneng Group itself has fallen into a debt crisis. According to the information from Tianyancha, Baoneng Group was listed as the person to be executed 67 times, and the total amount of execution exceeded 24.1 billion yuan. Yao Zhenhua, chairman of Baoneng Group, was also issued 14 orders to restrict consumption.

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