DoNews Auto reported on April 18, according to the pulse, the employees of Hechuang Auto revealed that the company was financially tight, and only the basic salary was paid in March, without any communication and explanation. Someone contacted the management for an explanation, but the executives were avoiding it.
Hechuang Automobile is jointly invested by real estate developers Zhujiang Investment Management Group and Guangzhou Automobile Group. Its main products are Hechuang V09, Hechuang A06, Hechuang Z03 and Hechuang 007. Due to poor performance, GAC publicly stated at the performance briefing that "Hechuang Automobile should be handled as soon as possible".
According to employees, GAC has stopped investing in Hechuang, and publicly claimed that it will handle Hechuang as soon as possible. In 2023, the original GAC team of the company was laid off by Zhu Weihang, and the former vice president of Iflytek, Duran, was transferred to the company, hoping to make him responsible for brand upgrading.
As a result, after Duran joined the company, the sales volume of Hechuang Automobile declined instead of rising, and Duran also left in October 2023. According to Tianyancha information, Guangdong Zhutou Intelligent Technology Investment Co., Ltd., a wholly-owned subsidiary of Guangdong Zhutou, is the largest shareholder of Hechuang, with a shareholding ratio of 68.5594%, followed by Guangzhou Automobile Ai ‘an, Yaoyu Investment and Guangzhou Automobile Group.
According to Cui Dongshu, Secretary General of the National Passenger Car Market Information Association, the current complicated market situation may accelerate the elimination of some weak brands with small sales volume and tight capital chain to some extent.
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