According to the Announcement on Audit of Subsidies for Promotion and Application of New Energy Vehicles in 20 17 Fund Settlement issued by the Ministry of Industry and Information Technology in official website on June/kloc-0+0 and related annexes, Jinhua Youth Automobile Manufacturing Co., Ltd. (hereinafter referred to as "Youth Automobile Manufacturing Co., Ltd.") was approved to liquidate the subsidy funds 1.655.
According to public information, the legal representative of Jinhua Youth Automobile Manufacturing Co., Ltd. is Pang Qingnian, who is widely known in the market because of the "water-hydrogen car" incident and is questioned by public opinion as a gimmick to "defraud government subsidies".
As the core sub-core industrial company of Youth Automobile Group, Youth Automobile Manufacturing Co., Ltd. covers an area of 640 mu. At present, it has seven series of 96 products ranging from 9 meters to 25 meters, covering all bus fields such as passenger transport, tourism, urban public transport and special public transport.
According to the data, Youth Automobile Manufacturing Co., Ltd. has successively won the honors of China 10 Bus Enterprise, China Top 500 Machinery Industry, "National Key High-tech Enterprise" and "National Torch Plan".
Changjiang Automobile is a company dedicated to the research, development, manufacture and sales of new energy electric vehicles. Headquartered in Hangzhou, the annual output of the whole vehicle can reach 65,438+10,000 vehicles, and the product range covers platforms such as passenger cars, buses, logistics vehicles and trucks. The company was formerly known as Hangzhou Changjiang Bus Co., Ltd. and listed on 1996. 20 13 Wulong electric vehicle was reorganized into Changjiang automobile.
Wulong electric car was once favored by Superman Li Ka-shing. Since 20 10, Li Ka-shing has increased its shareholding in Wulong electric vehicle for many times, and the shareholding ratio of 20 15 is as high as 8%. During Li Ka-shing's "Blessing" period, Wulong Electric Vehicle invested in the establishment of Guizhou Yangtze River production base, and invested in factories in many places to bet on the electric vehicle industry. From the beginning of 2009 to the beginning of 20 10, the share price of Wulong electric vehicle has risen 67 times, reaching a historical peak.
However, from 20 1 1 to 20 18, Wulong electric vehicles still suffered losses continuously. Among them, the loss in 20 18 was HK$ 3 billion. Today, Li Ka-shing is no longer among the top ten shareholders of Wulong Electric Vehicle.
The plight of Changjiang Automobile is related to the current automobile industry. Since the beginning of this year, the automobile market has continued to decline, and subsidies for new energy vehicles have also been declining.
Cao Zhong, Chairman and CEO of Wulong Electric Vehicle and Chairman of Changjiang Automobile, also confirmed this statement in his letter to shareholders on 20 18. He said in the letter: "The subsidy will be revoked; Subsidy standards are tightened; The time to receive subsidies is much longer than expected, which leads to tight cash flow ... because the regulations require electric vehicles to travel 20,000 kilometers to get subsidies. " He said that these reasons caused the company's "weak performance".
In order to find a new way out, like young cars, Changjiang Automobile is also laying out hydrogen fuel cell vehicles. On 20 18, Changjiang Automobile invested in a "Yangtze River Hydrogen Power (Foshan) R&D Center and Vehicle Production Project" with a total amount of1200 million yuan in Foshan, Guangdong Province. It is expected to be put into production on 20 19.