Sai Lin Shareholders Will Be Canceled: Mysterious Third Party Investors Looming.

Is Baiyun investment the investor Wang Xiaolin mentioned earlier?

In June 28th, it was drizzle in Rugao, which is still in the rainy season. The left behind employees of Jiangsu Sai Lin Automobile Technology Co., Ltd. (hereinafter referred to as "Jiangsu Sai Lin") are also in the mood of being washed by rain.

A shareholder communication working conference was originally planned to be held on the morning of 28. This is the first close meeting of shareholders since Sai Lin's suspension in Jiangsu, and plans to discuss the protection of employees' rights and interests. But just the night before, the attendees were suddenly informed that the meeting was cancelled.

This conference is the biggest hope of Jiangsu Sai Lin left behind team. After hearing the news, the staff rushed back to Rugao from abroad. "A few weeks later, the situation has finally improved, and I hope this conference will bring good news to the company." Rugao local staff told reporters on twenty-first Century economic report.

At the end of April, a letter from Qiao Yudong, a former legal officer in Sai Lin, in Jiangsu, brought the new force of the newly built car to the cusp. Qiao Yudong said in a letter, Wang Xiaolin, chairman of Jiangsu Sai Lin, invested in shares with false technology, resulting in huge state-owned capital being sold in disguise.

One stone stirred up waves. On the one hand, the Rugao local government set up an investigation team to investigate the matter. On the other hand, sailing many suppliers in Jiangsu sent the company to the court and froze the assets and accounts of the company. This led to the collapse of Sai Lin, which had struggled during the epidemic.

But there are still some employees who choose to stay behind. Although they know that the situation is not optimistic, leaving is sooner or later.

The Rugao staff said that so far, there has been no definite feedback from the stock exchange. Will the company continue to operate? He himself is still optimistic about the "civilian" road of Sai Lin's super run brand in China, and is also committed to participating in the maintenance of the plant and facilities of the Rugao plant. But he also understands the current realities and the mentality left behind is more "standing on the last post".

The cancellation of shareholders' communication conference means that it was only a joyful time before, and also exposed to a certain extent. The differences faced by all shareholders in handling subsequent matters may be larger than those imagined by others.

As of press release, twenty-first Century economic news reporter has not yet received the next time to hold similar meetings, left behind the left behind staff, perhaps only one way left with others.

Sai Lin automobile Rugao workshop. Data picture

The abandoned factory area?

Jiangsu Sai Lin is located in an industrial area in the north part of Rugao City, adjacent to many automobile manufacturing bases such as land ark, maple Sheng motor, youth automobile and so on. At noon on June 28th, despite the drizzle, the office buildings and factories in Sai Lin in Jiangsu were brand new and clean.

However, the mountain rain has come. Two weeks ago, Sai Lin was seized by the court in two factories in Rugao. A notice posted on the factory gate room showed that the intermediate people's Court of Nantong handled the factory buildings in accordance with the law in the case of 5 enterprises in Jiangsu, such as Sai Lin and other related enterprises.

It should be pointed out that in the case, the applicant was not the supplier who had frozen the Sai Lin account before, but the state-owned shareholder of Jiangsu Sai Lin, Nantong Jiahe science and technology investment and Development Co., Ltd. (hereinafter referred to as "Nantong Jiahe").

This is not surprising for those who have been concerned about the recent situation of Sai Lin. Last week, the seizure announcement from the Nantong intermediate people's court was also posted on the door of Jiangsu Sai Lin Shanghai branch. On the same day, the notice that glue had not dried was photographed and put on the Internet, and it was interpreted as evidence of Sai Lin's "broken dreams".

Sealing up is necessary for property preservation. In June 29th, an insider who was close to Jiangsu Sai Lin shareholders told reporters that Jiahe and Nantong were both shareholders and borrowers. In the case of suppliers' appeals to freeze the assets of Sai Lin, the company also needs to take measures to safeguard its own interests, which is a regular practice.

In fact, the seizure did not directly affect the operation of Sai Lin factory. Our reporter learned at the scene that although the factory had been shut down, there was still someone to maintain it before and after the seizure. With the words of the above local employees in Rugao, a factory could carry out trial production at any time as needed, and the equipment of the two plant could also be run at any time.

Sai Lin one factory plans to produce SUV model "Mai Ke", and the two plant plans to produce electric mini sports car "Mai Mai" and S1 sports car. At present, Mai Ke is in the trial and research stage. Previously, a member of Sai Lin's R & D team in Shanghai told reporters that if smooth progress is expected, it can be put into operation in one or two years. Mai Mai has already been listed, and the factory has already produced hundreds of cars. However, due to poor sales volume, these cars have become stock cars, and they have been quietly parked in the factory area.

Maintenance of factories and equipment is the last task for employees in the factory. Although the factory has ceased operation, in the process of the reporter's visit, there are still employees in twos and threes who have entered part of the workshop to carry out equipment inspection and debugging, and keep the cleanliness in the workshop. For the left behind employees, they are still looking forward to the resumption of production one day, and what they are doing is to ensure that the factory can respond at any time when the day comes.

In fact, Sai Lin Rugao factory was the first to feel the crisis. Before the announcement letter was published, Sai Lin had begun to be in turmoil because of its dismal sales volume, the new car's research and development less than expected, and the hindered financing. In mid April of this year, Jiangsu Sai Lin issued a salary reduction order, saying that only the basic wage was paid to employees during the shutdown. According to our reporter, since then, many employees in Rugao have entered the "stop and stop production" state, and only 30% of employees can work normally.

After the announcement letter was made public, in May, a supplier filed an application to freeze the account of Sai Lin through the court. This led to a more difficult situation for Sai Lin: the budgets of Shanghai and Beijing branches were shrinking rapidly, and all employees could not get their salaries. Most employees, whether ordinary employees or executives, left their jobs.

Why should shareholders' communication be cancelled?

Jiangsu Sai Lin has been in a storm. But for those left behind, who want to get a clear response, where will the company go? However, since the public announcement and public opinion heated debate, the east of the company's shares failed to reach agreement on subsequent matters.

In June 24th, state owned shareholder Nantong Jiahe sent documents to shareholders of other parties, and suggested that a working meeting of Sai Lin shareholders should be held in June 28th. The topic of the conference was the protection of employees' rights and interests in Sai Lin, Jiangsu.

The document was sent to the legal representatives and agents of the shareholders, the staff of Jiangsu Sai Lin Management Committee and some staff representatives. Wang Xiaolin also told the media that he would participate in the video conference. But one night before the meeting, Jiahe of Nantong once again sent a message: the meeting was cancelled.

This reporter learned that Nantong Jiahe believes that the conditions for holding the meeting are not available, because it is impossible to contact Rugao Ji Tai Electric Vehicle Technology Co., Ltd. (hereinafter referred to as "Rugao Ji Tai") legal representative Xu Yin, and Hunan Baiyun Investment Development Co., Ltd. (hereinafter referred to as "Baiyun investment") clearly stated that it can not participate in this shareholder communication working conference.

It involves two party shareholders. One is Rugao's close relationship with Wang Xiaolin, one is never exposed Baiyun investment. According to public information, Jiangsu Sai Lin has five shareholders, of which Nantong Jiahe is the state capital of Rugao, and its shares are capital, while the remaining four are Rugao Ji Tai, Nantong lions, Rugao Salin and Nantong Wei Meng, all four of which have already acquired technical shares.

The four companies are all related to Wang Xiaolin. Three companies outside Rugao's Thai Thailand are represented by the wives of Wang Xiao Lin's wives, while Rugao's Thailand is born out of GTA, a former US manufacturing company. However, Wang Xiaolin said in a recent media interview that he had no connection with GTA, and that shares in Sai Lin in Jiangsu were not his. But many people familiar with the matter, including Qiao Yudong, said that the real controller of Ji Tai in Rugao was also Wang Xiaolin, and her legal representative, Xu Yin, was one of Wang Xiaolin's "confidant".

According to some people, Xu Yin's lost contact can not be the reason for cancelling the communication meeting of shareholders. A document shows that the controlling shareholder of Rugao's Jay Thai has removed Xu Yin's position as the legal representative of the company.

It is said that Xu Yin has been actively cooperating with the Rugao municipal government to investigate the relevant matters of Jiangsu Sai Lin. According to the specific circumstances of Xu Yin, the controlling shareholder believes that she has been unable to fully execute the instructions and fulfills the duties of the company's legal representative. Therefore, she accepts her request and avoids her last post. At the same time, she also issued a letter of authorization to the designated persons in June 21st.

As mentioned in the above documents, on the morning of June 22nd, when the Rugao working group arrived at the request of the working group of Rugao, he immediately lost contact with the outside world after his investigation.

The controlling shareholder also indicated that the Secretary of his board of directors had contacted Xue Xiaoyun, the legal representative of Jiahe, Nantong, and Li Chun, a lawyer of Guo Hao law firm, who informed the above situation in writing. But in less than 12 hours from the time of the meeting, Nantong Jiahe unilaterally cancelled the meeting. "Our company can not understand Nantong Jiahe's behavior."

Relevant persons close to Jiangsu Sai Lin shareholders told reporters that although the two sides had communication, they did not see the formal procedures. The situation of Sai Lin and the relevant shareholders was "complicated" and could not be hastily decided, so they did not agree. However, he also said that shareholders of state owned assets should take certain responsibilities to ensure the legitimate rights and interests of employees.

Mysterious third party shareholders looming

Another shareholder involved in the cancellation of the meeting was Baiyun investment. The company that had never appeared was quietly linked to Sai Lin, Jiangsu. Through public information, it is easy to find that the real controller of the company is Chen Wenyi, the real estate owner of Zhuzhou, Hunan.

Qixin Bao data show that Baiyun investment registered capital of 40 million yuan, paid 22 million 217 thousand and 500 yuan in capital, legal representative for Chen Wenyi, the largest shareholder of Zhuzhou brilliance real estate development limited liability company holding 99.83%, small shareholder Zhuzhou Dacheng Real Estate Development Co., Ltd. holds 0.17% - the two shareholders of the legal representative is Chen Wenyi.

According to the official website information, brilliance real estate was established in 1995, with a total development area of 5 million square meters. The main development project is located in Hunan Province, which involves the development and operation of residential and commercial projects.

No public information shows that Baiyun investment is a shareholder of Jiangsu Sai Lin. There is no Baiyun investment in the list of shareholders of Sai Lin in Jiangsu. Qixin Bao also shows that there are 7 overseas investment projects invested by Baiyun. Apart from some property companies, they also invest in local financial institutions, such as Hunan Youxian rural commercial bank Limited by Share Ltd, but the specific shareholding is not clear.

Is Baiyun investment the investor Wang Xiaolin mentioned earlier? Not long ago, Wang Xiaolin said in an internal mail of the current situation of the communication company that a good 3 billion yuan fund 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 for the time being.

He did not point out the identity of the investor, but seems to be avoiding the statement of state owned shareholders. From all kinds of expressions, the investor may be a new investor.

In June 29th, the reporter dialed the telephone number that Baiyun invested in the industrial and commercial department to consult the matter, but the telephone was not connected.

However, informed sources denied this speculation. Those who are close to Jiangsu Sai Lin shareholders told the reporter 29 days ago that Baiyun investment was a company that had been discussed in 2018 and 2019. It was said that the company had played a share of money for Sai Lin, but later it did not continue to inject capital. "Based on this understanding, Jiahe also sent an invitation to Baiyun investment." The above said that Baiyun investment has nothing to do with the 3 billion new financing mentioned by Wang Xiaolin.

The person also denied that Nantong Jiahe continued to inject funds for Sai Lin. "Wang Xiaolin's words can't be all heard." He said.

Qiao Yudong, who was accused of "false accusation and direct call to investors", also said he had no idea that there was a $3 billion financing, and that it was impossible to contact the so-called investor. This unwarranted accusation made him wonder if the financing was real.

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