New energy vehicles swindle the door to continue to ferment the annual sales target is difficult to achieve

Just like the old man waiting for the boots to throw up the boots, Lifan, who has waited for another boots to fall, has paid a price of 100 million yuan for the boots, but compared with other new energy vehicles that are still waiting for the other boots to fall. Production companies, but also a lot of heart.

On October 9, Lifan announced that it had received the decision of the Ministry of Finance regarding the treatment of new energy vehicles, and thus caused a loss of 110 million yuan in 2015 and 2016 operating income and pre-tax profit. ". This is another factory that was dismissed after the Ministry of Finance publicly exposed five “cheat” car companies such as Suzhou Jinlong in early September.

"I heard that there will be some (handling) lists out there, but there will be different opinions." Information from insiders of a factory that is also waiting for "throwing boots" indicates that the Ministry of Finance will continue to follow the course of time. Announce the list of other “cheat” car companies and handle the decision.

List

The Lifan, who was seated, and the car company that disclosed the follow-up information, appeared on the list of “National New Energy Vehicle Manufacturing Enterprises' Fraudulent Complaints Summary Table”. In this 72-line form, almost all domestic automakers engaged in the production and sales of new energy vehicles are involved, including “national teams” such as FAW, Dongfeng and SAIC, and Zhengzhou Nissan. Joint venture.

What shocked the industry is that the 72 "car companies involved in the above-mentioned cases" involved a total of 76,374 vehicles, including a total of 9.27 billion yuan.

Although there is no official response, many details indicate the authenticity of this list.

New energy car fraud

Before the Ministry of Finance officially issued the decision, Lifan Motors also issued a clarification announcement on September 12, stating that “the company has not been listed among the above five companies after verification. In addition, the company has not received other Relevant official notice." However, after a lapse of less than a month, the Ministry of Finance’s decision has come to an end, and the problems and amount involved in Lifan’s passenger car are exactly the same as those in the previous exposure list – 2,395 vehicles that do not meet the new energy vehicle subsidy declaration conditions. The central government subsidy fund reached 114 million yuan.

Those who can prove the authenticity of this form are the first batch of five new energy vehicle fraud companies announced by the Ministry of Finance on September 8 including Suzhou Jinlong, Suzhou Jim West Bus and Shenzhen Wuzhou Long Automobile. Among them, 1683 vehicles in Suzhou Jinlong, 1131 vehicles in Suzhou Jim West and 154 vehicles in Shenzhen Wuzhou Dragon are the same as the figures in the table.

"We have already rectified the (special) inspection team before the inspection. Now I have received the inspection letter from the inspection team, indicating that there is no problem." In the first time the form was exposed, one of the "involved" car companies related The person in charge gave a vague reply; the insiders of the car companies that disclosed the follow-up information were also concerned about him. "The main thing is local support, which requires charging pile construction, circuit expansion, land issues, etc. ""

Similar to the two "listed" car companies for their own defense, Lifan shares and Jinlong Automobile have also excused themselves.

"This matter has been clarified. It is a good thing for the company and the industry. The subsidy is only a means to promote the development of the industry. However, in actual operation, there are still some deviations in the understanding of the details. Through this investigation, it can promote the benign nature of the industry. Development." Li Fan shares Dong Xiao Tang said that the company did not have the subjective "cheat". After being named by the Ministry of Finance, Jinlong Motor also said that the subsidiary (Suzhou Jinlong) had deviations from the understanding and implementation of the new energy subsidy policy, which may result in penalties from relevant departments.

Far-reaching influence

Sure enough, Jinlong Automobile issued a notice on the evening of October 12 after Jinlong Automobile publicly responded to the subsidiary Suzhou Jinlong’s “cheat” incident, saying that the company received a notice of punishment from the Ministry of Finance. The Ministry of Finance will recover 519 million yuan and plan to impose a fine of 259 million yuan on 50% of the amount of violations. At the same time, it will cancel the company's central financial subsidy from 2016, and when it will resume, it will depend on the rectification situation.

Affected by this announcement, Jinlong Auto's share price opened lower at 11.84 yuan on October 13. On the 9th of September, the day after the Ministry of Finance exposed the "cheat", Jinlong Motor opened lower by 6.54%, and fell to 7.5% on the day.

In fact, huge subsidies have become the main source of profits for many listed car companies. The punishment for “cheats” has put many listed companies at risk of losing money. According to the announcement of Jinlong Motor, the reduction of subsidies and penalties will directly reduce the 2016 net profit by 315 million yuan. In the first half of 2016, Jinlong Motor's net profit was only 164 million yuan. This punishment is likely to cause Jinlong Motor to fall into a loss in 2016.

In fact, not only is Jinlong’s profit dependent on subsidies, but other new energy vehicle manufacturers are no exception. The Yutong Bus, which also appeared in the list of “cheats and scams”, previously issued a notice saying that the company did not have “battery identification does not match”. According to the financial report, the government subsidy for the sales of new energy vehicles in Yutong Bus in 2015 was 6.857 billion yuan. The net profit of Yutong Bus was 3.535 billion yuan, and the government subsidy was nearly twice its net profit.

Compared with the loss of profits of Jinlong Automobile and Yutong Bus, another western resource with the parent company of Chongqing Hengtong Bus, which is also notified by the Ministry of Finance, is more tight.

On the evening of October 11, the Western Resources announced that the company had received the “Inquiry Letter on the Relevant Matters Concerning Information Disclosure of Sichuan Western Resources Holdings Co., Ltd.” of the Shanghai Stock Exchange. The Shanghai Stock Exchange requires Western Resources to supplement the accounting treatment and basis for the recovered RMB 207.88 million, and to clarify the impact on the performance of each period; and the accounting treatment, basis and impact on the company's performance of the fine of 62.364 million yuan.

It is worth noting that Western Resources reported a loss of 56.369 million yuan in 2013, a profit of 160.623 million yuan in 2014, and a loss of 270 million yuan in 2015. Therefore, the CSRC requires the western resources to be clear, and whether this administrative fine will cause the company to lose money for three consecutive years.

New Deal will come out

The continuous fermentation of “cheat the door” not only affected the individual car companies, but the entire new energy car market was not spared.

According to data released by the China Association of Automobile Manufacturers on October 12th, in September, the sales volume of domestic new energy vehicles was 44,000 units, and the cumulative sales volume from January to September was 289,000 units, an increase of 43.8% year-on-year and a cumulative increase of 100% year-on-year.

Although this increase is still considerable, the growth rate of 300% in the fourth quarter of last year has fallen back a lot. The China Automobile Association said that the annual sales target of 700,000 new energy vehicles will be difficult to achieve according to the current situation. It is estimated that the sales of new energy vehicles will reach 500,000 in 2016.

In the commercial vehicle sector, the production and sales of commercial vehicles in September totaled 299,000 and 296,000, respectively, an increase of 9.3% and 8.1% over the same period of the previous year. However, passenger car production and sales decreased by 11.1% and 7.8% respectively over the same period of the previous year. In addition to a certain degree of squeeze on traditional highway passenger transport due to the development of other means of transportation such as aviation and high-speed rail, Xu Haidong, deputy secretary-general of the China Automobile Association, also said, "The overall new energy policy, including the exposed bus companies' fraudulent list, The production and sales of passenger cars have a certain impact."

Xu Haidong’s “overall new energy policy” includes the 2016 new energy bus subsidy policy. Previously, the state subsidies for new energy buses ranged from 300,000 yuan to 500,000 yuan. In addition, some local governments refer to the national standard 1:1 subsidy. Some companies can get 100 for each electric bus with more than 8 meters. A subsidy of 10,000 yuan.

In view of the current status of the relevant new energy auto companies to advance funds for production, the China Automobile Association believes that this move is not a long-term solution. At the information conference on October 12, Shi Jianhua, deputy secretary-general of the China Automobile Association, revealed that the subsidy policy for new energy vehicles will be released soon, and the specific impact remains to be seen. "I believe that after the introduction of the new (subsidy) policy, the production and sales of new energy vehicles will be back on track and fall back to a stable growth state." Xu Haidong predicted.

“The country needs the new direction of new energy (automobiles), but the design of the top layer is a very important but very careful thing. Many subsidies (policies) have to be introduced at the same time as the implementation details and implementation specifications.” On the one hand, the insiders of the car companies are still waiting for the other to punish the landing of their boots. On the one hand, they euphemistically express their views.

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