Sai Lin Car Stop

The localization of the super race Sai has pressed the pause button.

Wang Xiaolin, the chairman of Jiangsu sailing Automotive Technology Co., Ltd. (hereinafter referred to as "sailing") in Jiangsu, admitted in his internal mail that the company's business had to come to an end, and hundreds of thousands of employees were faced with the real problem of where to go.

After the company failed to pay monthly wages, many employees of Sai Lin in Jiangsu recently resigned, including senior executives. In twenty-first Century, the business reporter reported that at present, the senior executives of Jiangsu Sai Lin, Chen Lei, chief financial officer, Yu Fuzhong, personnel director Wang Fang and other core executives have already applied for leave of absence. And because Wang Xiaolin is still living abroad, the company is almost in a "no master" state.

Due to various considerations about the company's capital and operating conditions, many ordinary employees have also filled out the application form. Queuing procedures seem like "the last working day today". Many people worry that colleagues in the HR department will leave the office sooner or later, and finally no one can go through the formalities.

Before the massive departure tide, such as Wang Xiaolin said in his internal mail, Jiangsu sailing has been unable to pay the employees normal payment. Shanghai branch also has internal staff to reflect that the company's salary in May has not arrived and the social security has not been paid normally.

And a year ago, Sai Lin had a lot of scenery. Last summer, Sai Lin held a massive brand conference at the bird's nest yard in Beijing. At that time, its flagship model, Sai Lin S7, the new Le Mans edition and Hollywood film superstar Json Statham (Jason Statham) and many international racers jointly unveiled a strong hyper run trend in the bird's nest.

Behind this, Sai Lin made in China is also a star project of local government. In order to introduce Sai Lin, the Rugao municipal government has provided a full range of services, especially early financial support. Public information shows that Rugao state owned enterprise Nantong Jiahe science and technology investment and Development Co., Ltd. (hereinafter referred to as "Nantong Jiahe") is the largest shareholder of Sai Lin in Jiangsu.

However, the progress of Sai Lin made less than expected, and the late financing was blocked, resulting in the company being forced to "wean" when it did not get the hematopoietic power. Wang Xiaolin said in an internal mail that the original 3 billion yuan capital that reached a consensus with investors should be put in place in May this year, but it was shelved by investors.

Wang Xiaolin said that the reason why investors set aside 3 billion yuan was mainly because of Qiao Yudong's "sabotage". He "falsely accused and directly telephoned investors", which led investors to decide to shelve investment before the government made the conclusion.

Qiao Yudong was a former legal officer in Sai Lin, Jiangsu. At the end of April this year, he reported that Wang Xiaolin had invested in stocks with false technology, resulting in huge state-owned capital being sold in disguise. The current situation is still under investigation.

However, Qiao Yudong denied this "accusation". In June 22nd, Qiao Yudong told reporters on twenty-first Century economic report that he did not know about the 3 billion yuan financing and had not contacted the so-called investors. He also expressed doubts about the authenticity of the financing.

Chaotic situation

The arrears of salaries and the resignation of executives have forced more and more grassroots employees to consider leaving.

A Shanghai office employee told reporters that although he had not yet filled out his resignation list, he had also made preparations for leaving. In the past time, he and his colleagues tried to call the public hotline, apply for labor arbitration and many other ways, hoping to get compensation and resettlement.

But no one can solve these problems, executives leave almost all of them, and administrative affairs are just as chaotic as the company's business. For various reasons, the company has not paid the arrears of wages to employees. For employees, leaving at this time requires courage. The current automobile industry is in a poor environment, and it is difficult to find a suitable home to become a lot of people.

A key node is that in the end of June, Sai Lin's office lease in Shanghai expired, and the employees who remained in the company were really faced with the choice of where to go. It is reported that office buildings will be completely closed in July 15th if they are not renewed.

On the afternoon of June 22nd, Frank Sterzer, vice president of Sai Lin, director of the Rugao plant, held a staff communication meeting in the lobby of the first floor of the Sales Office of the Shanghai office. He was not the direct responsible person of the Shanghai office in Jiangsu. However, as one of the few senior executives in China, he believed that he had the responsibility to communicate with staff in a timely manner.

Frank Sterzer said he had no definite information about when the Shanghai office would be closed, but once it was known, it would inform you for the first time. At the same time, he also made a commitment to ensure that the human resources department of Rugao has the authority to deal with the turnover of Shanghai employees this month. At present, the relevant teams in Rugao are relatively stable, and we hope that you can reduce the worry that the subsequent separation can not be handled.

Sai Lin's situation is hard to say. The company's operation has been stagnant behind the tide of resignation.

The above Shanghai office staff told this reporter that in mid May, the company's capital chain has already been tightened, and the business budget has been compressed, and his work has been suspended. Outside Shanghai, the situation in Rugao is also similar. Frank Sterzer admits that 70% of Rugao's factories are currently working at home.

Shanghai office staff asked, how does the staff stay in the Shanghai office after the closure of the office? Frank Sterzer said the arrangement would be more flexible. The employees who stayed could either choose to work at home or to work in Rugao, but he cautioned that "Rugao factories may face the problem of water and electricity supply next."

3 billion yuan financing to shelve?

The direct reason for Sai Lin's suspension is the problem of capital chain. On the one hand, Sai Lin's account has been frozen by suppliers. On the other hand, the company's own operating capital has also been in urgent need.

Wang Xiaolin said in an internal mail that the 3 billion yuan fund with good money will be put in place in May this year, but because of Qiao Yudong's "false accusation and direct call to investors", investors have decided to shelve the investment temporarily.

"At present, because Qiao Yudong report became a national media event in April 27th, and then he called directly to investors (individual employees told Qiao Yudong that May financing will be in place and the investor's contact information was told to Qiao Yudong). The 3 billion funds originally scheduled for May were shelved." Wang Xiaolin emphasized this again in another internal mail.

However, Qiao Yudong denied this statement. He said it was not clear at all that there was a $3 billion financing theory, and it was even impossible to contact the so-called investors. This unwarranted accusation made him wonder if the financing was real.

Jiangsu Sai Lin has five shareholders. In addition to the largest shareholder, Jiahe, Nantong, the remaining four are foreign-funded enterprises funded by technology (reported by Qiao Yudong to invest in false technology), of which Nantong Jiahe has provided 3 billion 342 million yuan equity contribution for Jiangsu Sai Lin. Although the company has tried many times to introduce external shareholders, it has not been formed.

Wang Xiaolin did not point out the identity of the "investor", but it seems to be avoiding the statement of state-owned shareholders. In June 22nd, Frank Sterzer also answered the staff's questions, saying that it was not clear about the specific circumstances of the 3 billion funds. It was only heard that "some investors in the East had won such a financing".

From all kinds of expressions, the investor may be a new investor. However, some analysts pointed out that this may be Wang Xiaolin's direct pressure to avoid giving Rugao state assets.

"There was no investment plan at all," Wang said. "It was a euphemism to the shareholders of state-owned assets." A person who does not want to be named is analyzed.

One of the details is that Wang Xiaolin said in his mail that he communicated with the management of the company several times and repeatedly sought state shareholders to ensure the wages of his employees, which, to a certain extent, imply that the state-owned shareholders are still the only ones who can solve the problem of sailing capital. However, the response of state shareholders is that state shareholders do not provide funds during the working group's investigation of Qiao Yudong's report.

The controversy between East and west makes things even more difficult. Frank Sterzer said in the exchange meeting that there are three plans to solve the problem of arrears of wages for employees: first, shareholders can return to the negotiating table and let the company account be unsealed; two, the company transfers, and the new owners need to be responsible for the company or the employees who are leaving. Three, it is to close the company, go bankrupt and liquidate, and the proceeds will be used to pay the arrears of employees' wages.

"However, all solutions require shareholders to sit at the negotiating table." Frank Sterzer said, but now he has not received any news about this.

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