It is rumored that the Yao brothers had disagreements over "car manufacturing" and Baoneng Holdings changed its name to Laihua Holdings

A few days ago, it was reported that the two brothers Yao Zhenhua and Yao Jianhui of Baoneng Group will separate. After Yao Jianhui donated his shares in other Baoneng companies to Yao Zhenhua, Baoneng Holdings spun off the Baoneng system. , and changed its name to Laihua Holdings. The entire existing structure and personnel of Baoneng Holdings will be transferred to Laihua Holdings.

Reports indicate that the “separation” of Baoneng Group may be related to Yao Zhenhua’s car-building plan. As we all know, Baoneng has invested more than 100 billion in the past three years in order to "build cars". Its business covers the entire automotive industry chain, including automotive software, leasing, and even glass manufacturing. With such a huge cost, Baoneng has not made any public financing news in the past three years of "making cars", and there is no IPO plan for relevant car companies.

Although Yao Zhenhua went to great lengths to "build cars", the results were not satisfactory.

Currently, Baoneng Automobile has three complete vehicle production bases. Changshu, Jiangsu is the Qoros manufacturing base, and Shenzhen Baoneng Automobile manufacturing base is the acquired Changan PSA manufacturing base. It was originally scheduled to be launched in Among the production bases for new energy vehicles in Xi'an, Guangzhou, Fuyang, Guiyang, Kunming, Kunshan and other places, only Xi'an has completed the first phase of construction work.

In 2020, Baoneng disclosed a total investment of more than 200 billion, a planned vehicle production capacity of 3.75 million/year, and an area of ??more than 10,000 acres. The fact is that the Xi'an base is currently the fastest-growing car manufacturing base. It has completed the first phase of construction work, but its production capacity is only 300,000, which is 40% less than the original planned production capacity of 500,000 for the first phase, and the total investment The amount is only 9.8 billion yuan, and the planned investment must be 40 billion yuan, a 75% reduction. Projects in other places are not only progressing slowly, but production capacity has also been compressed. Among them, the Fuyang base with an annual planned production capacity of 300,000 vehicles has not yet been implemented.

In November 2020, the National Development and Reform Commission issued a document requiring local development and reform commissions to report the investment status of new energy vehicles, and named two car companies, one of which is Baoneng Motors. In response, Baoneng responded in a letter admitting that Baoneng Motors had made false publicity and water injection of production capacity.

Yao Jianhui may not want to go through this "muddy water" anymore, so he decided to leave with Baoneng Holdings.