Recently, the illegal fund-raising case of Shanghai Beigang Investment Management Co., Ltd. (hereinafter referred to as “Beigang Investment”) was heard in the first instance of the people’s Court of Huangpu District of Shanghai.
More than 30 senior executives, including Zhou Min, the legal representative, and Zhu Jiang, the legal representative, were charged with illegally absorbing public deposits.
According to media reports, some of the funds illegally raised in the case went to two new energy car companies, Vientiane Automobile and Aiqi Automobile.
At the same time, a number of investors quoted communication with the economic investigation department as saying that the unpaid amount at the time of the case was more than 13 billion yuan, including 4.
5 billion yuan for Guangwei Holdings, 6.
3 billion yuan for Vientiane Motor, and 1.
5 billion yuan for Aichi Motor.
The media also pointed out that the key figure in the case was Chen Xuanlin, who became the controller of Guang Wei Holdings since September 2017 and served as chairman of Vientiane from 2017 to 2022.
He served as chairman of Aichi Motor from July 2022 to November 2022 and was later revealed to have absconded overseas.
The case makes matters worse for Aichi, which wants to solve the financial crisis through a backdoor listing.
Photo source: Aichi car, Aichi, in prison, Aichi Automobile was founded in 2017, led by car old man Fu Qiang.
Fu Qiang has served as an executive in auto companies such as FAW-Volkswagen, Beijing Mercedes-Benz and Volvo (China).
Aichi, which was playing a “professional class” at that time, also gained a lot of financing.
Aichi Automobile has completed nearly 10 rounds of financing, including technology giants Tencent Investment, Ningde Times, DiDi and so on, raising a total of more than 10 billion yuan.
In December 2019, Aichi launched its first new car, the U5.
However, in 2020, the first full year of sales, Aichi sold 2600 cars in the Chinese market.
At that time, Wei Xiaoli’s annual sales had exceeded 20,000 units.
Since then, the sales performance of Aichi has never lived up to expectations, with annual sales of only a few thousand and 111 in the first four months of 2023.
During this period, it was revealed that the company planned to list in Science and Technology Innovation Board in 2021, which ended in vain.
The new power car companies are famous for spending money, poor sales and failure to appear on the market have led to a stalemate.
Just then, the key figure Chen Xuanlin appeared.
At first, Chen Xuanlin was just one of the shareholders of Aichi.
In 2022, when Aichi was cash-strapped, it received hundreds of millions of dollars in financing from Chen Xuanlin and his Dongbai Group.
Since then, founder Fu Qiang has become president of the company and Chen Xuanlin has become chairman of Aichi Automobile.
However, the situation of Aichi has not improved.
Since 2023, Aichi has fallen into difficulties in production and operation, and problems such as factory shutdowns and wage arrears have also been exposed one by one.
Just recently, Aichi is still adding information about the person to be executed.
On May 16, Aichi added a piece of information about the person subject to execution, which was worth more than 218 million yuan, involving contract disputes related to Jiangling Holdings.
Prior to this, on May 14, Aichi added a piece of information about the person subject to execution, with an execution target of 47211 yuan.
Photo source: Aichi car, just waiting for Prince Charming, will be beaten back to its original shape? However, despite the crisis, Aichi seems to be waiting for its own Prince Charming.
Recently, it was revealed by foreign media that Aichi would acquire Hudson Acquisition I Corp through a special purpose in the United States.
Listing by way of merger.
It is reported that Aiways Automobile Europe GmbH, the European company of Aichi Motor, has worked with Hudson Acquisition I Corp.
A merger agreement was signed and the merger is expected to be completed around December 31, 2024, valuing Aichi at about $400 million.
The new entity will have a new strategic positioning to take advantage of our resources and resources in the European electric car market.
” Alexander Klose, managing director of Aichi Europe, announced in a statement.
Previously, in order to avoid fierce competition in the Chinese market, Aichi shifted its focus to overseas markets, setting up an electric sports car research and development center and factory in Germany, as well as an overseas division and an European sales company in Munich.
Data show that since its listing in the European market in April 2020, Aichi has successively entered more than 10 overseas markets, such as France, Germany, the Netherlands, Belgium, Denmark and so on, but the cumulative delivery volume has not exceeded 2000 vehicles.
In this cooperation, it is reported that Aichi will be headquartered in Europe and will be responsible for sales, marketing and finance, while manufacturing, procurement and research and development will be mainly carried out in China.
It is reported that the merger is expected to be completed by the end of this year.
In fact, however, Aichi had planned to complete the listing of Huaxia Burson, a reverse backdoor US stock education company, in 2022.
According to the terms of the letter of intent published at the time, Aichi was valued at $5 billion to $6 billion, and after the acquisition, all shares in Aichi will be converted into common shares of the listed company.
But in the end, the listing plan came to naught because Chen Xuanlin was stranded overseas by thunder at his investment agency.
Now, Aichi finally waits for his white horse knight again, but at this moment he is involved in an illegal fund-raising case, and there is still Chen Xuanlin behind the case.
Chen Xuanlin used to save Aichi cars and water and fire with a huge amount of money, but now he has repeatedly become an obstacle to the backdoor listing of Aichi cars, which makes people sad.
However, in any case, I’m afraid Aichi cars can’t stand any more troubles.
, return to the first electric network home page >.
