Another new force that will fall: Hechuang Auto only pays basic salary

According to Maimai, employees of Hechuang Auto revealed that the company was financially tight and only paid basic wages in March without any communication or explanation. Management was contacted seeking an explanation, but executives were avoiding the matter.

Hechuang Automobile is jointly invested by real estate developers Zhujiang Investment Management Group and Guangzhou Automobile Group. Its main products include Hechuang V09, Hechuang A06, Hechuang Z03, Hechuang 007, etc. Due to poor performance, Qianzhen GAC publicly stated at the performance briefing meeting that it "will deal with Hechuang Automobile as soon as possible."

According to employees, GAC has no longer invested in Hechuang, and has also claimed in public that it will deal with Hechuang as soon as possible. The company's original GAC team has also been laid off by Zhu Weihang in 2023, and Du Lan, the former vice president of iFlytek, was brought in. He was originally expected to be responsible for brand upgrades.

As a result, after Du Lan joined the company, the sales of Hechuang Automobile declined instead of rising. Du Lan also resigned in October 2023. Tianyancha information shows that Guangdong Zhutou Intelligent Technology Investment Co., Ltd., a wholly-owned subsidiary of Guangdong Zhutou Investment, is the largest shareholder of Hechuang, with a shareholding ratio of 68.5594%, followed by GAC Aian, Yaoyu Investment and GAC Group.

According to Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Association, the current complex market situation may accelerate the elimination to a certain extent of some weak brands with small sales and tight capital chains.

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