Recently, Dongfeng Yulong Automobile Co., Ltd. administrator Zhejiang Liuhe Law Firm issued an announcement stating that it will conduct public investment in accordance with the relevant provisions of reorganization procedure . This joint venture, which once produced and sold the " Nazhijie " brand, is seeking to take over.
The "Announcement" shows that Dongfeng Yulon's managers have seven basic requirements for intended investors, including clearly requiring "not included in the list of dishonest debt by the people's court or taken measures to restrict high consumption", and "investment projects take the research, development, production and sales of new energy vehicles as the main business direction".
In addition, the intended investors also need to comply with relevant national regulations on the investment entity qualification requirements for vehicle investment projects. And in joint investment, at least one investor needs to meet this condition.
This means that Dongfeng Yulon currently needs vehicle companies to enter. Even if investors in other industries are willing, they need to jointly invest with qualified car companies and investors.
Assets, Dongfeng Yulon currently has the qualifications for passenger cars' traditional fuel and new energy production, including real estate such as land and factories, passenger cars' traditional fuel and new energy production qualifications, proprietary technology, vehicle verification capabilities, test runways, emission performance laboratory, regulatory power laboratory, vehicle VOC testing laboratory, etc., with an annual production scale of 120,000 vehicles.
It is reported that Dongfeng Yulon Company is located in Qiantang New District, Hangzhou City, Zhejiang Province, located in the geographical center of the southern wing of the Yangtze River Delta. It is surrounded by more than 100 automobile parts manufacturers, including Magna , mainland China, Lear , Virginia, Kasma , etc.
is not clear about the asset valuation, but Dongfeng Yulon has previously had debts of up to 7 billion yuan. When Dongfeng Yulon achieved profitability in 2012, its annual sales revenue was only 6.485 billion yuan.
Public information shows that Dongfeng Yulong Automobile Co., Ltd. was established in December 2010 and was jointly established by Dongfeng Motor and Taiwan Yulong Group. Both parties each account for 50% of the company's shares . Nazhijie, a brand under
, has also delivered a beautiful sales report card in the Chinese market and once invited Jay Chou to endorse it. In 2014 and 2015, Nazhijie sold more than 50,000 vehicles, and a single model even sold 4,000 vehicles per month.
However, such results did not last long, and soon Nazhijie's sales began to decline sharply. In 2018, due to the cold winter of the automobile market, coupled with the increase in car purchase restrictions in various places, the outbreak of new energy vehicles, and the implementation of "National VI" emissions, Nazhijie, which was unreasonable in product innovation, eventually faded out of people's vision.
From 2019, Nazhijie's annual sales volume was less than 1,000 units. At the same time, a large number of 4S stores were withdrawn, and even the recalls officially released by Nazhijie no longer have dealers to take over.
In November 2020, Dongfeng Yulong Automobile Sales Co., Ltd. was sued to enter the bankruptcy liquidation process, and Nazhijie withdrew from the Chinese market.
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