The statement is generally public, but at 9: 00 pm on June 28th, more than 400 Boxian employees received an internal statement from the boss Huang Ximing in the company's WeChat group.
▲ Screenshot of Huang Ximing's internal statement
1. Statement: If people stay at home, the company will go bankrupt.
The statement apologizes to everyone first, because most employees have not been paid for half a year. Then admitting that Boxian "failed to enter the competition in the second half of the new energy industry" is equivalent to formally acknowledging the failure of Boxian's car-making project.
Huang Ximing also bluntly said: "Without external capital injection and government support, I really can't rely on my own strength to restore the normal operation and development of the company in a short time." This is tantamount to declaring the company close to bankruptcy.
Nanjing Bojun New Energy Automobile Co., Ltd. was established at 20 16 and 12 with the registered address of Pukou District, Nanjing, with a registered capital of 65,438+38 million. Huang Ximing is the founder, legal representative, chairman and general manager of Boxian County.
20 19 April, Bojun released three electric vehicle platforms, i-SP, i-MP and i-LP, and two SUV——, Bojun iV6 and Bojun iV7. The artist Kenny Lin also took part in this activity. However, after only one year and two months, why did Bo County end up here?
This internal statement of 1 109 is more clear:
Since the second half of last year, the company has encountered financial problems, which have not been solved after maximizing profits, resulting in arrears of wages and five insurances and one gold. During the epidemic, the situation was over-optimistic, and the situation deteriorated because it did not stop production. Apologize for this company.
▎ At present, Bo County has no tangible assets to sell, and has been trying to sell intangible assets accumulated in the past three years, including intellectual property rights related to models and platforms, but it takes time. He promised to stay at home anyway and try his best to safeguard the rights and interests of employees.
▎ The three platforms in Bo County are very competitive, and the prototype can last up to 500 kilometers. However, too much emphasis on innovation and internationalization, failure to grasp the domestic changes, failure to do a good job of capital planning and emergency plans, resulting in the new energy industry did not enter the second half of the competition.
Today, there is no external capital injection and government support in Bo County. It is difficult for Huang to resume normal operation by his own strength, and he is likely to enter bankruptcy proceedings. I hope you understand and thank those who are still insisting. I hope employees can help each other and defend their rights rationally.
At the end of the statement, Huang Ximing still firmly believes that Bojun Automobile can find new development opportunities.
Second, employees: no one goes to work and the office is blocked.
"However, employees are now going through the resignation procedures in batches. What does it matter to us if there are new opportunities? " An employee said this to Che Jujun.
According to him, since mid-June, no one has been working in Bojun's office in Building C, No.515 Shennan Road, Shanghai Xinzhuang Industrial Zone. Huang Ximing Group still has more than 400 companies issuing statements.
"You can understand that Bo County has been dissolved, and these 400 people haven't had time to leave." The employee added.
Che Jujun asked, didn't you ask for compensation when you left? He smiled: we can't even get normal wages. Where can I compensate? It is reported that the last salary he received in Bo County was 20 19 1 1. In other words, he has been in arrears for half a year.
Then, in this case, it is inevitable for employees to file labor arbitration.
An internal labor and personnel dispute mediation book shows that in early June this year, Bo County employees reached a mediation agreement with the company. The main contents are as follows: On June 30th, 2020, the company paid employees the annual salary of 20 18 13, February-April.
It is reported that this is only a few cases mediated by arbitration, and more employees have joined the collective salary group under the guidance of relevant departments, and the legal aid team has docked. The advice of the lawyers in the group is: the salary should follow legal procedures and have the spirit of the rule of law; The expectation of salary should be determined according to the law and reality, otherwise it will bring psychological influence; If there is excessive behavior in the process of asking for salary, you should bear the corresponding legal responsibility.
The current progress is that wages can be applied for arbitration in May. For employees who have reached an arbitration mediation agreement before, if they can't get their wages on June 30th, they can apply to the court for enforcement from July 1.
"If it is really time for enforcement, Bo County's office and related assets may be seized." A legal person said.
But the reality is even more cruel. At noon on June 30, two motorized law enforcement vehicles stopped at the entrance of Bojun office building, and then the glass door was sealed. The seal unit is Minhang District People's Court of Shanghai.
At this point, Bojun basically declared death.
3. Assets: selling intangible assets? Tables and chairs sell better.
So how to clean it up? Especially the salary of employees. In general, it is to sell existing assets.
However, as Huang Ximing said in the statement, Boxian County "is still in the action stage of light assets mode, and there are no assets such as land and factories that can be sold". Then, will the court auction the intellectual property rights of the model and platform advocated by Huang? I don't know.
The value geometry of these intellectual property rights is also a mystery.
In the statement, Huang Ximing was the first to mention "too much emphasis on independent innovation and the international competitiveness of products" when analyzing the reasons for the failure. It means that Boxian has invested too much in positive R&D and complied with international standards too much, resulting in too high R&D cost, too long vehicle-building cycle and finally the capital chain is broken.
Is that really the case? Someone in Weibo raised an objection.
A screenshot displayed by a blogger shows that Bojun applied for a new car design patent on 20 18, but the overall shape is almost the same as that of Changan CS75. Only a few changes have been made: the middle net is closed, there is no exhaust system, and the battery area is left in the chassis.
Insiders confirmed to Che Jujun that Bojun did have many employees from Changan Automobile Shanghai Design Institute.
A market analyst told Che Jujun: If these intellectual property rights are really valuable, we should make some progress through normal business negotiations with sincere discounts in about six months. It has never landed. It can only be said that the price deviates too far from the value, or the market is too deserted, and no one dares to take over.
Huang Ximing also admitted in the statement that he never stopped trying to cooperate with other manufacturers or newcomers to recover the funds, but it was not an easy task.
Since there is no land and factory to sell, and intangible assets cannot be exchanged, we can only sell some low-value consumables.
On June 29, someone took such a scene. In the office building, someone is pushing a mobile chair to go out. It should be selling office furniture. There is a Bojun iV7 exhibition car parked next to it. It is said that this medium and large pure electric SUV with a battery life of more than 700km seems to have no chance to enter the market.
Fourth, shabu-shabu: shareholders have no trust? Management incompetence?
"Without external capital injection and government support, it is really impossible for me to resume the normal operation and development of the company in a short time."
In his statement, Huang Ximing has clearly mentioned that two of the three shareholders in Bo County, namely investment institutions and local governments, will no longer provide support. The implication is that Huang himself, who only has technical expertise and intangible assets, can't afford to stop work without pay.
Interestingly, Che Jujun found in Tianyanchang that the ownership structure of Nanjing Bojun New Energy Automobile Co., Ltd. only listed the names of seven shareholders, but there was no corresponding share ratio and subscription amount, which was relatively rare.
The actual controllers of the seven shareholders can be roughly divided into three categories. One is local governments, such as Huai 'an Huaiyin State-owned Assets Office, Nanjing Pukou Economic Development Company, Nanjing Pukou Development Zone, Nanjing Jiangbei New District Investment and Development Company, etc. One is third-party investment institutions, such as Shenzhen Qianhai Zhongke Merchants and Sinochem International Holdings. , and the other is the consulting company or overseas company actually controlled by Huang Ximing, such as Bordrin? Future, Huanhao Consulting, etc.
How much has Bojun invested in these four years?
According to public information, in 20 16, Bojun announced that it would invest 10 billion yuan to build a manufacturing base in Nanjing, 5 billion yuan in 20 17 to set up Sixun New Energy Company in Huai 'an, and 3.5 billion yuan in 20 18 to build Bojun's new production base in Shanghai Lingang. 2065438+September 2009, Bojun announced that it had invested 2.034 billion yuan to set up a joint venture company with FAW Li Xia, in order to obtain the qualification to build cars, and at the same time it had to bear the debt of about 4 1 10,000 yuan from FAW Li Xia.
Only its announced total investment reached 20.5 billion yuan. But where does the money come from?
20 18 financial report shows that Bojun Automobile's total assets are about 550 million yuan and its net loss is 479 million yuan, which does not seem to match the huge investment announced. Why is this happening? According to Huang Ximing, the local governments in Tianjin and Nanjing promised to invest 2.5 billion yuan, but none of them got it.
"Even if it is put in place, I am afraid it will be difficult to bear the expansion of more than 20 billion." A market analyst said, "After all, Bojun has not even built a car, and it is really worrying that he is so extravagant without normal business income."
Therefore, for the joint venture company established with FAW Li Xia, Bojun only paid 1465438+ ten thousand yuan, accounting for only 1 .4% of the promised down payment1100 million yuan.
"In fact, the investment in Bo County in recent years is only about 2.5 billion yuan." An industry insider estimates.
Of course, Huang Ximing also reflected on his own problems: he didn't have a good grasp of the changes in China's investment direction, didn't make overall plans and arrangements for funds, and lacked emergency plans and timely stop-loss measures.
Translated into vernacular, it means: it's not your own money, so I don't feel bad.
▲ Kenny Lin attended the 20 19 Bojun Brand Night.
"Mr. Huang knows more about technology, but he is not very good at management," a former employee told Che Jujun. The salary offered by Boxian County is higher than the industry average, but the employee turnover rate remains high. Gert, former MINI designer and former design director of Qoros Auto? Hilderbrand), also worked in Bo County for a while. "But Huang Ximing didn't seem to like the German design, so he broke up."
The post of public relations director in charge of external communication has also changed several people, and the shortest one is two months.
It seems that this car-making movement is more like a game.
Jeju tubercle
Two years ago, there were 73 known new car-making forces in China, with a total planned production capacity of more than 6.5438+million vehicles/year, while the sales of passenger cars in that year were only 22 million. In the end, the actual sales of electric vehicles accounted for less than 5% of the passenger car market. At that time, Che Jujun wrote an article, How many people can China's new car-making forces live? ? ? ",and predicted that by 2022, can survive 20% is good.
Looking at it now, it is still too optimistic and naive.
On the wall of a badminton hall named Hongbo in Guangzhong Road, there is also a red banner: Bojun Automobile iV6 Cup First Table Tennis and Badminton League. The straight-line distance from this venue to Bo County is only 200 meters, but Che Jujun believes that there will be no second competition.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.