二是，威马汽车的微信公众号在停更两年后，突然发布了《致供应商白皮书》，称深圳翔飞汽车销售有限公司已接管威马四公司，按照法院批准的重整计 划，公司正推动威马EX5和E5车型的恢复量产工作。 一是，业界传出哪吒汽车即将"复活"的消息，山子高科正推进与哪吒汽车母公司合众新能源的重组事宜，或将于今年10月完成哪吒汽车的交接清退。消息 出来后，山子高科股价连续涨停。 最近，沉寂许久的两家造车新势力，再次引发业界的广泛关注。 公开信息显示，山子高科已连续亏损七年之久，且今年一直在退市边缘徘徊。在"退市保卫战"的关键期，胜利的曙光还没出现，山子高科还在钢丝上行 走，这个节骨眼上，真能救哪吒汽车于水火、并将其收入麾下吗？ 地产龙头的"造车梦" 山子高科，全称山子高科技股份有限公司，前身是银亿股份。银亿股份曾是宁波的房地产龙头企业，其创始人是红极一时的宁波首富熊续强。 1994年，正值我国房地产行业的黄金上升期，熊续强看好房地产赛道的发展潜力，创立了银亿集团。在此之前，熊续强是宁波罐头食品厂的总经理，在公 司命垂一线时临危受命，扭亏为盈。 亚洲金融危机以后，房地产市场出现大量"烂尾楼"，银亿集团在十年的时间内，以低价大肆收购烂 ...

"命悬一线"的新造车们正加速自救，欲重回牌桌。合众新能源管理人近日发布的《关于重整投资人公开 招募结果的公告》（以下简称《公告》）显示，截至意向重整投资人报名截止日，已有一家意向重整投 资人按要求提交完整报名材料并缴纳报名保证金5000万元。 合众新能源管理人表示，由于仅一家意向重整投资人按要求完成报名工作，后续将不再进入重整投资人 遴选程序，但该意向重整投资人需向管理人提交符合法律规定，和要求且切实可操作的书面重整投资方 案（包括但不限于重整范围、重整投资金额、债权清偿方案、后续经营方案等内容），方可被确认为最 终的重整投资人。 资料显示，2014年合众新能源成立；2018年，哪吒N01正式上市。随后，凭借哪吒V与哪吒U在中低端 市场冲量。但从2024年起，哪吒汽车危机全面爆发，今年6月嘉兴市中级人民法院裁定受理合众新能源 破产重整一案，并指定浙江海浩律师事务所、浙江子城律师事务所、上海市君悦律师事务所担任合众新 能源联合管理人。今年8月，合众新能源管理人发布《关于公开招募重整投资人的公告》，以公开、公 平、公正的方式招募重整投资人。 在哪吒汽车意向重整投资人按要求完成报名工作前，威马汽车已进入复产阶段。今 ...

Core Viewpoint - The revival of WM Motor is supported by a government-backed white paper, indicating a structured plan for resuming production at its Wenzhou base, which has recently restarted operations after a two-and-a-half-year halt [1][2][6]. Group 1: Production Resumption - WM Motor's Wenzhou base is reported to have resumed production, currently in a ramp-up phase, with around 100 workers on-site [1][5]. - The local government is actively supporting WM Motor's revival by coordinating supply chains, providing financing and subsidies, and assisting in restoring credit ratings [2][7]. - The white paper outlines that WM Motor aims to produce 10,000 vehicles in 2025, with plans to ramp up to 100,000 vehicles by 2030 [6][10]. Group 2: Government Support - The Wenzhou government has implemented policies to support the automotive industry, offering subsidies ranging from hundreds of thousands to tens of millions [2][7]. - A specialized inspection team has been formed to ensure the safety and stability of WM Motor's production equipment, further facilitating the resumption of operations [7][9]. - The government's involvement is seen as a strategic move to stimulate local economic growth through the revival of WM Motor [8][9]. Group 3: Market Challenges - Despite the resumption of production, WM Motor faces significant competition in the electric vehicle market from established players like BYD and emerging entrants like Huawei and Xiaomi [10][11]. - Historical sales data shows that WM Motor's best year (2021) only reached 44,000 units, which is less than half of the projected sales for 2026 [10][11]. - The company has a substantial debt burden of 25 billion yuan, with assets valued at only 9.6 billion yuan, raising concerns about its financial sustainability [11][12].

已停摆多时的威马、哪吒、高合等造车新势力，如今正进入一场残酷的"复活赛"。 9月12日，哪吒汽车品牌运营方——合众新能源汽车股份有限公司召开了破产重整案第一次债 权人会议。 会上披露了一组数据：公司账面资金仅剩约1500万元，而确认债权约51亿元，还 拖欠5000余名职工工资及补偿金约4.6亿元。 作为曾经的新势力销量冠军，哪吒汽车至今仍困在严重的财务危机的漩涡中，巨额债务压顶， 40多万车主的售后与权益也被蒙上阴影。 但希望并非完全湮灭。合众新能源管理人于6月30日发布《重整意向投资人预招募公告》，招 募时间为7月10日至9月8日。 根据阿里资产官网信息，截至9月8日投资人预招募到期，已有76 名意向投资人报名参与。 同样努力"重返赛场"的，还有威马和高合。 其中， 威马汽车 似乎步子最快。9月6日，威马汽车通过一则《致供应商白皮书》（下称《白 皮书》）宣布回归， 计划本月在温州基地恢复EX5和E5车型的生产 。这家已经停摆两年、负 债超过200亿元的新势力车企，似乎终于迎来了"白衣骑士"。 9月8日，21世纪经济报道记者实地探访原威马汽车位于上海青浦区的设计·采购中心，这里自 六月起已悄然复工。该办公地点 ...

Core Viewpoint - The new energy vehicle companies Weima, Nezha, and HiPhi are attempting to revive their operations amidst financial crises and market challenges, each taking different approaches to re-enter the market [1][10]. Group 1: Financial Status and Challenges - Nezha Automotive is facing severe financial difficulties, with only approximately 15 million yuan in cash against confirmed debts of about 5.1 billion yuan, and it owes over 460 million yuan in wages and compensation to more than 5,000 employees [1][8]. - Weima Automotive has accumulated debts exceeding 20 billion yuan and has been inactive for two years, but it plans to resume production of the EX5 and E5 models at its Wenzhou base [1][11]. - HiPhi, which was taken over by Lebanese capital, has not received any funding from its new major shareholder, EV Electra, leading to stalled negotiations [2][9]. Group 2: Revival Strategies - Weima is adopting a "government platform + industrial capital" model, with support from the Wenzhou government and a three-phase development plan aiming for significant production and revenue growth by 2030 [6][7]. - Nezha is pursuing a public recruitment of investors to address its financial issues, with a significant entry barrier of a 50 million yuan deposit for potential investors [8]. - HiPhi's strategy involves attracting overseas capital, but it has faced setbacks due to unmet funding commitments from EV Electra [9]. Group 3: Market Position and Resources - The new energy vehicle companies possess valuable resources such as production qualifications, which are scarce in the current regulatory environment, making them attractive targets for investment [3][4]. - Nezha has established production bases with a total annual capacity of 300,000 vehicles and has begun local production in Thailand, achieving significant sales growth in overseas markets [4][5]. - Weima also has a KD factory in Thailand, indicating its strategy to expand overseas production capacity [4]. Group 4: Consumer Trust and Market Environment - Rebuilding brand trust is a significant challenge for these companies, especially for Weima, which has not addressed key customer concerns regarding parts and service after its bankruptcy [11][13]. - The market environment has changed dramatically, with older models like Weima's EX5 and E5 struggling to compete against newer offerings in a rapidly evolving market [13]. - The overall sentiment in the market is cautious, with consumers wary of investing in brands that have previously faced bankruptcy [13].

Core Viewpoint - WM Motor, once a leading player in the "new car-making forces," has announced a revival plan after undergoing bankruptcy restructuring and facing over 20 billion yuan in debt [4][5] Group 1: Company Status - WM Motor's flagship store in Shenzhen has been converted to a JAC Yiwei experience center, with no new car sales since late 2022 due to financial issues [2][3] - The company currently has only 143 employees, significantly fewer than competitors like NIO, which have thousands [4] - The company aims to resume production in September 2023 and has set ambitious production and sales targets, including 10,000 units by 2025 and 100,000 units by 2029-2030 [4][5] Group 2: Market Challenges - The company faces significant challenges in brand image, technology reserves, and channel construction, which are critical for regaining market confidence [4][5] - WM Motor's sales channels have nearly disappeared, with only a few display vehicles available in Shenzhen, and no test drives or sales currently possible [2][3] - The competitive landscape is tough, with established players like BYD and Geely intensifying their market presence, making WM Motor's path to recovery uncertain [5]

Core Viewpoint - WM Motor has announced its revival after a period of dormancy, with a new restructuring plan approved by the court and a new investor, Shenzhen Xiangfei Automotive Sales Co., Ltd. [1][2] Group 1: Company Operations - The design and procurement center of WM Motor in Shanghai has resumed operations since June, with approximately 30-40 employees currently working there [4] - The company plans to re-establish its dealer network and has received confirmed orders from overseas markets [9] - A professional team of 143 members has been formed, consisting of 78 employees from Xiangfei and 55 former WM Motor employees, with a goal to build a core team of 400 [9] Group 2: Financial Situation - WM Motor has faced significant financial difficulties, with total losses of 17.435 billion yuan from 2019 to 2021 and debts amounting to 20.367 billion yuan as of March 2024 [10] - The debt repayment plan includes full cash repayment for ordinary creditors with claims of 150,000 yuan or less within six months after the court approves the restructuring plan [10][11] Group 3: Future Plans - WM Motor has outlined a three-phase revival plan from 2025 to 2030, aiming to produce 100,000 vehicles annually and achieve revenue of 120 billion yuan by 2030 [14][15] - The company plans to launch over 10 new models in the next five years, covering various vehicle categories from A00 to C-class [15] Group 4: Investor Background - The new investor, Shenzhen Xiangfei, has connections to Baoneng Group, although the exact financial backers remain unclear [2][15]

Core Viewpoint - WM Motor has announced its revival after a period of dormancy, with a new restructuring plan approved by the court and a new investor, Shenzhen Xiangfei Automotive Sales Co., Ltd, outlining ambitious growth targets for the company [1][10][14]. Group 1: Company Status and Operations - WM Motor's design and procurement center in Shanghai has resumed operations with approximately 30-40 employees, primarily in procurement, IT, and HR roles, and is actively hiring [4][9]. - The main office building in Shanghai remains closed, indicating a mixed status of operations [2][3]. - The company has restarted its dealer network and received confirmed orders from overseas markets, with plans to invest 1 billion yuan in equipment upgrades and product development [9][14]. Group 2: Financial Situation - WM Motor has faced significant financial challenges, with total losses of 17.435 billion yuan from 2019 to 2021 and debts amounting to 20.367 billion yuan against assets of only 3.988 billion yuan as of March 2024 [10][11]. - The debt repayment plan includes full cash repayment for ordinary creditors with claims of 150,000 yuan or less within six months post-approval of the restructuring plan [10][11]. Group 3: Future Plans and Projections - The company has set a three-phase development plan from 2025 to 2030, aiming to produce 100,000 vehicles annually by 2030 and achieve revenues of 120 billion yuan [14][15]. - WM Motor plans to launch over 10 new models across various vehicle categories in the next five years, focusing on both pure electric and range-extended technologies [15]. Group 4: Investor Background - The new investor, Shenzhen Xiangfei, has connections to Baoneng Group, although the exact financial backers remain unclear [15].

Group 1 - The core point of the article is that WM Motor, previously thought to be defunct, is planning a revival with ambitious production and sales targets, supported by new ownership and government backing [1][3][5] - WM Motor aims to resume production in September 2023, targeting a sales goal of 20,000 units by the end of the year with models EX5 and E.5 [3][5] - The company has set long-term goals to produce 100,000 units by 2026, 400,000 units by 2028, and 1 million units by 2030, with projected revenue of 120 billion [5][6] Group 2 - The new major shareholder, Xiangfei Automotive, has garnered support from local governments, including subsidies and priority in public procurement [5][6] - The sales targets set by WM Motor are considered ambitious, especially the goal of 2,500 units per month for the EX5 and E.5 models, which are seen as outdated compared to current market standards [8][11] - The article raises concerns about the capabilities of the new shareholder, Baoneng Group, which has a history of struggling to manage acquired automotive brands effectively [16][18][20] Group 3 - Baoneng Group's previous acquisitions, such as Qoros and PSA, have not yielded the expected results, leading to significant operational challenges and declining sales [20][22][24] - The automotive industry is facing intense competition, and simply having new ownership and funding may not be sufficient for WM Motor to succeed [30][32] - The article expresses hope that WM Motor and Baoneng Group can effectively revitalize the brand, addressing existing issues faced by current vehicle owners [34][36]

Core Viewpoint - Weima Motors is undergoing significant changes with new investment from Shenzhen Xiangfei, aiming to resume production of the EX5 and E5 models while addressing substantial debt issues and restoring consumer trust [1][2]. Group 1: Investment and Production Plans - Shenzhen Xiangfei plans to invest 1 billion yuan to restart production of the EX5 and E5 models at the Wenzhou base, targeting a production and sales goal of 10,000 units this year, with aspirations to reach 20,000 units in the future [1]. - The company aims to initiate an IPO by 2028, indicating a long-term strategy for growth and recovery [1]. Group 2: Historical Context and Challenges - Weima Motors, founded in 2015, initially gained market attention due to its founder's background in major automotive companies, achieving significant sales with the EX5 model in 2018 [1]. - The brand faced severe setbacks starting in 2020, including incidents of vehicle fires and issues with battery range limitations, leading to a loss of consumer trust and multiple failed IPO attempts [1][2]. Group 3: Current Market Situation - As of October 2023, Weima Motors filed for bankruptcy reorganization, with debts amounting to 45 billion yuan, and a significant reduction in its retail presence, particularly in Beijing [2]. - Many Weima vehicle owners have abandoned their cars or sold them at low prices due to the lack of service and support following the closure of official service centers [3]. Group 4: Future Strategies and Market Position - Analysts suggest that Weima should consider entering the ride-hailing market and lowering vehicle prices to remain competitive, as the market for electric vehicles in the 100,000 to 150,000 yuan range is saturated with options [5]. - Collaborations with ride-hailing services for customized vehicle development could be a strategic move for Weima to regain market relevance [5].