202 1 1 5, Beiqi Foton announced that the company has not received the final payment due from Beijing Baowo equity transfer 1.77 billion yuan. The company is actively negotiating with debtors and guarantors about repayment plans and supplementary guarantee measures, and will take legal measures to collect creditor's rights.
As we all know, the "debtor and guarantor" mentioned in the announcement of Beiqi Futian refers to the "Shenzhou Department" and its affiliated companies that once dominated the travel market with UCAR as the core.
20 18, 1 1, Beiqi Foton listed and sold 67% equity of Beijing Baowo Automobile Co., Ltd. at a price of 3.973 billion yuan. At the beginning of 20 19, UCAR officially acquired 67% of the shares of Baowo. Even by the end of 20 19, UCAR's shareholding ratio in China was as high as 75.2 1%.
A transaction that happened two years ago, with the shrinking demand in the tourism market in 2020, the financial fraud of its affiliated company Luckin coffee was "revealed to the world". "If you don't deserve virtue, you will suffer." UCAR's performance in China has gone from bad to worse. After several shutdowns, its "bad debts" have been dragged on until now.
Of course, it must be admitted that the sluggish sales of Baowo has also seriously dragged down the performance of UCAR.
In 2020, the sales volume of all new cars in Baowo was 8,704, down 84.04% year-on-year. In fact, in June 2020, the sales volume of Baowo reached 265,438+000 vehicles in just one month, accounting for almost a quarter of the whole year.
1 1 month later, Baowo basically stopped production, and only the car inventory was enough to support the sales level of 600 vehicles per month.
Did UCAR "screw up" Beijing Baowo?
At that time, Beijing Baowo had just moved to UCAR, and UCAR offered the banner of "new retail" with its "strong" travel market layout.
The so-called "new retail" in China is officially called "separation of production and marketing". Redefining channel remodeling, automobile consumption reconstruction and new automobile retail through industrial chain transformation and platform empowerment.
How to understand China's "new retail" without "procrastination"?
Car production is still in the charge of Beijing Baowo. We don't understand! But we have "domestic demand". Previously, Baowo was dominated by 4S stores, and the distribution network formed may be eliminated. "Consumers" can rent a car and buy a car through the procedures of car companies. ..
As a result, the original collective fryer of Baowo's dealers is inevitable, which is followed by the "car withdrawal tide". However, the "unintentional" Shenzhou system does not care. Up to now, you can still see the advertisement page of "Inviting New Retail of Cooperative Cars" in Baowo official website.
How is Shenzhou's "closed-loop marketing" produced and sold?
In 20 19, Baowo reached a record high with 54,528 vehicles. Even according to the analysis of the industry, after deducting the data of 20,000 vehicles sold in China, Baowo has at least no loss under the operation of the new owner. Because in the previous three years, the average annual sales volume of Baowo under Beiqi Futian Gate was 35,000.
To tell the truth, UCAR didn't build a car at all, but it took over Baowo and expanded its travel "empire". However, the unfavorable situation of UCAR in China cannot support Baowo's continuous survival needs.
No matter whether UCAR's playing style is reasonable or not, many "cheating" factors are not even ruled out. But it is true that it has set the best annual sales volume of more than 50,000.
Doesn't UCAR think that the real "revival" of Baowo brand must rely on real private consumption?
It's not easy! A broken gong can't make a good sound without being overhauled by a professional performer.
Unfortunately, UCAR is not a professional car manufacturer.
Baowo is already a thoroughly spoiled child in a family like Beiqi Futian.
Yes, Beiqi Futian is the birthplace of Baowo.
But Beiqi Foton doesn't think so. Since German engineer Karl Baowo founded Baowo automobile brand in 19 19, they have been talking endlessly about BBBA. The bold "b" is a treasure in their eyes.
However, Beiqi Foton will deliberately downplay the status quo of German Baowo since 196 1 stopped production for more than half a century.
Beiqi Foton will also selectively ignore that 5 million euros can't buy technology, platforms and any intellectual property rights, which is equivalent to no more than 40 million yuan, in addition to buying shell brands and buying "stories". More importantly, Germany Baowo doesn't need to sell any real materials related to making cars.
Frankly speaking, the so-called "Baowo Rebirth" story interpreted by BAIC Fukuda is just to "relive" all the mistakes that should not be made again after 20 15.
The first step is to lay eggs by chickens.
Buying a "shell" from Baowo, Germany, revealed from the beginning that Beiqi Foton had insufficient technical reserves for passenger car manufacturing under the strategy of "taking care of both business and travel" at that time, and only considered "borrowing chickens and laying eggs" on the premise of insufficient confidence.
It's just that the "chicken" in Baowo, Germany is really too old to lay eggs, so Beiqi Futian decided to "make up" a "story" with eggs.
The second step is reverse development.
Who hasn't "reverse developed"?
Japanese cars were developed in Europe and America 70 years ago, and China's own cars were developed in Europe, America and Japan 15-30 years ago.
However, the decade after 20 10 is a decade of self-made cars by leaps and bounds: independent research and development platform, overcoming the manufacturing barriers of core components, forming a family design language, improving the scientific and technological level of the whole vehicle, strengthening the awareness of independent brands, and gradually transforming to intelligence and electrification. ...
In fact, whoever walks thoroughly on this road will become the ultimate beneficiary.
However, Baowo BX7, which went on the market on 20 16, is the first product full of moral flavor, and is recognized by the industry as the reverse development of Volkswagen Tiguan.
We do not deny that Baowo Beijing Factory is an automobile factory with the so-called "German Automobile Industry 4.0" model, nor do we deny that the first generation of Baowo BX7 products adopted a sincere attitude in the selection of spare parts.
But the era of reverse development is really over. Self-built cars usher in a new era and need to have their own "personality." And this happens to be appreciated by users after 80 s and 90 s.
Baowo basically entered the market at the same time as the new car-making forces, but Baowo's car-making thinking was still 20 years ago.
The third step is to build a car with "stories".
After the story of Fu Bao's "climbing up" to German descent was made up, it was actually BAIC Fukuda himself who was first blinded by lard.
The high pricing of listed products is the best proof.
In 20 16, Baowo BX7 became the only model in the "independent brand" with an average transaction price exceeding 200,000 yuan. And the monthly sales soon exceeded 5000. China users like the "early adopters" consumption attitude, which paralyzes the nerves of Beiqi Foton.
At this moment, Baowo's "fireworks physique" is completely exposed-how brilliant it is when it blooms, how fast it disappears.
The fourth step is that the quality control is not in place.
In fact, whether it is an ethereal brand, imitation manufacturing or "unnecessary" inheritance, it is not so important to users. Whether it is a "hand in hand" car is the most important thing.
However, on the major complaint platforms, Baowo's product problems frequently appear, and most importantly, most of the problems come from core components such as engines and gearboxes. For example, BX7 engine problems account for 34. 1% of complaints, and abnormal noise is the main performance; BX5 gearbox is the hardest hit area, accounting for 24.6%. The main problems are gear jumping and jitter.
Among them, BX7 is concentrated in 20 16, BX5 is concentrated in 20 17 and 20 18, and over 60% of the complaints occurred within 3 months after buying the car. Only one inch. These problem models are all products of Beiqi Futian Times Baowo.
If the quality control of Baowo is not in place, then the brand strategy implemented by Beiqi Foton for Baowo brand before is a "disaster".
How high you lift, you will fall badly.
In this way, Baowo "this child" was born with unhealthy body and mind.
Futian Baowo suffered losses for three consecutive years from 20 16 to 20 18. When UCAR in Shenzhou received Baowo, the accumulated loss reached 4 billion yuan.
BAIC Futian's treasure is a real negative asset.
"Giving up Baowo" is a foregone conclusion.
So does Baowo have a future?
Baowo's future can be roughly divided into three directions.
First, stay in China.
This is the most unfavorable result for Baowo's future.
Are there finished eggs under the nest?
At present, it is difficult to get out of the situation of Shenzhou system and care about Baowo's living condition. Even if the 202 1 travel market picks up, the financial situation of Shenzhou Department has been adjusted back, and it is difficult to make additional investment in Baowo.
Baowo disappeared in the struggle for "capital" and became the earliest "martyr" with great probability.
Second, pay off debts with assets and return to Beiqi Futian.
This is not a good result either.
BAIC is not an expert in learning, digesting and absorbing, let alone Futian, who was born in a commercial vehicle.
In 2009, BAIC acquired part of Saab's technology and production line, and established the "Sic Bo" brand. Storytelling is a tradition of BAIC. When the first model of Silicon Carbide Bao went on the market, the brochure of BAIC 120 pages was specially used to introduce Saab's technical concept, which was 80 pages long.
How about Beiqi Silicon Carbide today? I don't need to say anything!
It is also a self-made car, and it is also a technical study of 10 years. Look at Geely and you will know what a real "learning expert" is.
Therefore, Beiqi Foton still hopes that Baowo will return. Even if Baowo can return, what can he do? At best, BAIC "recovered" state-owned assets.
Third, Baowo was acquired by a third party.
No matter who the third party is, at least Baowo will get a new round of capital injection after entering his new home. Baowo will continue its life and be safe for the time being. This is the most suitable place for Baowo to belong.
In July 2020, SAIC terminated its acquisition of UCAR in China at the last minute. Although SAIC's acquisition is not aimed at Baowo, it is based on the layout of the travel market. Given SAIC's trading experience with similar brands such as MG and Roewe, Baowo may have really missed the best opportunity.
Write at the end:
Baowo is not without its merits. It has the qualification of making two cars, the German 4.0 factory, the flexible platform for making cars and the regional advantages of the factory ... It's a good "rough jade", but it's a pity that it's domineering.
Who can adopt Baowo? I wonder if Baowo can wait for an opportunity to really return to the hands of passenger car players in the future.
Million car purchase subsidy