1992, Yin Mingshan resigned and went to sea. Started his business at the age of 54 and established Lifan Company. In the subsequent development process, from making motorcycles to making cars, to investing in football, to joining the financial sector, and to building new energy vehicles, not only the founder Yin Mingshan once became the richest man in Chongqing, but Lifan also became a shining city business card in Chongqing and a well-known private enterprise in China.
In the meantime, Yin Mingshan not only had huge wealth, but once became the richest man in Chongqing, and was also an inspirational idol worshipped by countless people.
Now, with the continuous announcement of Lifan Holdings, Lifan, which was founded 28 years ago, has reached a very difficult moment. According to the announcement issued by Lifan Co., Ltd. on August 1 1, the company received a notice from the controlling shareholder chongqing lifan Holdings Co., Ltd. (Lifan Holdings), and Lifan Holdings received the civil ruling. "(2020) Yu 05 Po Shen No.460" On August 1 day, 2020, the court ruled to accept Lifan.
This also means that Lifan shares have the risk of delisting.
A shining city card in Chongqing
Before the Lifan crisis broke out in recent years, Yin Mingshan was once praised as a city card of Chongqing with his legendary life experience and special experience of investing in Chongqing Football 17 years.
1992, 54-year-old Yin Mingshan invested 200,000 yuan to start a business. By buying parts and assembling engines from local motorcycle giants, he succeeded in digging gold and produced his own motorcycle brand Lifan. Fight our way out in the siege of Jialing and construction, and successfully seize the opportunity to get rich.
In 2000, Yin Mingshan spent 55.8 million yuan to acquire Global Island Hongyan Club and formally invested in Chongqing football. Subsequently, regardless of the profitability of the company, he insisted on investing in Chongqing Football 17 until 20 17.
A person who has worked in the club for a long time after investing in football from Lifan told Che Ping 4.0 that Yin Mingshan is an elder with great personality charm. He is amiable, has a unique vision and has the demeanor of an entrepreneur. "Because of investing in football, Lifan of Yinmingshan quickly changed from a regional brand to a household name in the country."
On the football level, in the years when Lifan invested in football, the club never paid wages, which is well known in the circle.
On 20 17, Lifan Football Club was transferred to Contemporary Group, and Zhang Xin, deputy director of Chongqing Sports Bureau, also spoke highly of Yin Mingshan and Lifan. "Yin is always the first industrialist after the reform and opening up. Chongqing football relies on his real money. Very important sports and cultural positions and city business cards have been reserved for this city. "
One billion debts crushed Lifan.
Previously, on the evening of June 18 this year, Lifan announced that the company had involved 392 lawsuits (arbitrations), involving a total amount of 2.906 billion yuan. Among them, 22/kloc-0 cases have been decided, involving 654.38+83.6 million yuan, all of which are defendants. There are 82 cases pending trial, involving 580 million yuan. Moreover, the liabilities of Lifan Group are short-term debts that need to be repaid, and there are 9.075 billion yuan of short-term debts to be repaid within one year.
At the same time, Lifan is also faced with multiple negative effects such as employees asking for salaries and dealers quitting the network. The amount involved in the lawsuit alone is as high as nearly 3 billion yuan.
Lifan's predicament is also related to the decline of its main business. The serious decline in automobile production and sales, coupled with huge debts and the adverse effects of previous new energy fraud, are important factors leading to the decline of Lifan.
In fact, Lifan struggled for a long time on the edge of life and death. According to the financial report data, Lifan's performance in the past three years is not satisfactory, and its operating income has continuously declined from 126 billion yuan in 20 17 to 7.45 billion yuan in 20 19. In the first quarter of 2020, Lifan achieved revenue of 564 million yuan, a year-on-year decrease of 74.88%; The net profit returned to the mother was-1.9 1 100 million yuan, down 103.06% year-on-year.
In addition, the impact of the epidemic is prompting the auto industry to accelerate the reshuffle. It is rumored that Geely Automobile will "take over" Lifan's other businesses except motorcycles, including shell resources of listed companies, production qualifications and financial licenses. However, the relevant person in charge of Geely Automobile said that he did not know about this matter.
The rise and fall of thirty years
From the rise to the present struggle to the brink of life and death, it is difficult for outsiders to find out the real reason for the rise and fall of an enterprise. An insider who has worked for Lifan for a long time revealed that Lifan's decline may be related to Yin Mingshan's mistakes in employing people. He trusted the wrong person and was calculated by others, which led to some strategic mistakes.
Others believe that the gradual decline of Lifan is also related to the changes in the entire motorcycle and automobile market. Lifan is not alone in the plight of domestic car companies. Under the influence of overcapacity and COVID-19 epidemic, the overall situation of the whole automobile industry is not optimistic.
Kong has a poem "Mourning for Jiangnan", which has long been full of its ups and downs.
I have seen Wang Dianying in Jinling Crow, and the Qinhuai Waterfront opened early, but it is easy to melt. Look at him starting from Zhulou, watching him entertain guests and watching his building collapse. This mossy pipa pile, I used to sleep happily and watch the rise and fall of 50 years. That Wuyi Lane is not surnamed Wang, Mochou Lake is a night crying ghost, and Phoenix Terrace is an owl. The remnants of Meng Shan are the most authentic, and it is difficult to lose the old land. I don't believe this picture is a revision. A set of "Sorrow for Jiangnan", playing sad songs to the old.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.