Owe 29.4 billion! The originator of domestic SUV models, which made crazy money by counterfeiting, eventually lost on the cottage road.

In September, 222, an explosive news shocked the real estate, automobile and financial circles at the same time: Zhang Xiugen, the founder of Huatai Automobile, was arrested by the police for "illegally selling land".

who is Zhang Xiugen? Maybe many people don't know. But in the history of China automobile industry, Zhang Xiugen is definitely a figure who has to be mentioned.

Huatai Automobile, which he founded, was the originator of China SUV, and its cars were praised as "Cayenne" in China.

The Santa Fe he built was once a special vehicle for chinese peacekeepers, and was awarded as the CCTV model of the year.

founder Zhang Xiugen, with a net worth of 14.1 billion yuan, successfully made the Forbes list of global billionaires.

Zhang Xiugen, founder of Huatai Automobile

However, while Zhang Xiugen was firmly on the rich list, there were frequent scandals in Huatai Automobile in recent years.

Not only was sales fraud exposed, but the reported data was rejected by the China Automobile Association; He was also accused by employees of pulling banners because of arrears in employee wages; In addition, the equity was pledged and the production base was completely shut down.

at this time, people realized that Huatai automobile has already become a "tear of the times"!

how did a "light of domestic products" that once swept the country fall?

how did Zhang Xiugen, a billionaire, get into prison?

Zhang Xiugen's story begins with Baotou workers.

in p>1983, Zhang Xiugen retired from the army and formed a construction team with six brothers, who enthusiastically joined the team of urban construction in Baotou, Inner Mongolia.

Years of military life have cultivated Zhang Xiugen's rigorous style of doing things. He has a process and a standard of work. Soon he stood out from the mixed construction team and became the first choice for many township enterprise projects.

In p>1991, Zhang Xiugen has established a construction team of 23 people, in addition to which it has fixed assets of 1.67 million yuan and working capital of 4, yuan.

In that era when millions of households were rare, Zhang Xiugen's wealth made it difficult for many people to match it.

In order to manage the growing team, Zhang Xiugen founded Hengtong Group in 1993, and began to set foot in real estate development, investment and other fields.

In the first decade when the construction industry was booming, Zhang Xiugen made a lot of money.

Zhang Xiugen

When the year 2 comes, people's living standards have been greatly improved, and there are more cars on the streets. Zhang Xiugen keenly feels that a new outlet is coming.

how to get in? Outsider Zhang Xiugen knows nothing. However, at this time, a golden opportunity appeared in front of him.

Zhang Xiugen learned that Shandong Rongcheng Automobile Factory was divested by FAW, and was eager to find funds to become a shareholder.

He immediately went to Rongcheng, 1,5 kilometers away, with heavy money, and became the new owner of Rongcheng Automobile Factory. Immediately, Huatai Automobile was established.

Many years later, Zhang Xiugen recalled that it was a "pie-in-the-sky business".

why?

first of all, geographical advantages. Rongcheng is located at the easternmost tip of Shandong Peninsula, facing South Korea across the sea. As the saying goes, "the advantage is the first to get the moon", Rongcheng has a natural geographical advantage to cooperate with Korean enterprises.

that's true. In 1991, after the establishment of Rongcheng Automobile Factory, it cooperated with Hyundai Korea to produce the "Aoben" jeep.

Secondly, the technology of Rongcheng Automobile Factory has been verified by the market. In April 1999, after Rongcheng Automobile Factory was merged into FAW, it changed the name of "Aoben" to "Jiefang", which was very popular after it was put into the market.

After taking over Rongcheng Automobile Factory, Zhang Xiugen has transformed from a layman in automobile manufacturing into a ready-made automobile production line, reliable technology, proven market, scarce automobile production qualification and famous products.

capital, technology, market, qualifications and fame are simply the right place at the right time.

at the beginning of Huatai automobile, it was Wang fried, which made countless colleagues jealous.

In p>23, Huatai Automobile cooperated with Hyundai Korea to launch the first SUV "Traka" in China, which became an instant hit.

"Configuration of 6, yuan, price of 3, yuan", the advertising words are very attractive, which makes every car buyer feel uneasy.

how hot was Traka at that time?

15, vehicles were sold in the first year, which was the best-selling model on the market at that time. Don't underestimate 15, vehicles. That was 2 years ago, when the annual output of FAW-Volkswagen was only 3, vehicles.

Huatai at that time was really "the light of domestic products".

Traka

In p>25, Zhang Xiugen struck while the iron was hot and signed "Santa Fe" with Hyundai. This is the most successful model of "modern", and it became the "CCTV SUV model of the year" after it was listed in China.

CCTV endorsed, and Huatai won the title of God in World War I, and was called "the originator of SUV models in China" by the industry.

Santa Fe

For a time, Zhang Xiugen was full of scenery. All localities rushed to invite him, hoping that he could build a factory in the local area and give super affordable policy support.

in p>25, the Ordos government invited Huatai to build a factory, giving money and land. Huatai got 6, mu of land, 1 billion loans and two coal mines.

how many colleagues envy this treatment?

Zhang Xiugen pats his chest and draws a pie: In the next seven years, Huatai will build a comprehensive production base integrating complete vehicles, clean diesel engines and auto parts.

with the help, Huatai embarked on the road of independent research and development.

Huatai first launched "Huatai B11" in 211, and then launched "Huatai Baolige" known as "China Cayenne".

the sales data is also very bright, with a cumulative sales volume of 3, vehicles in four months.

Self-developed cars

Beautiful sales performance has brought various invitations to Zhang Xiugen.

In early p>213, Zhang Xiugen moved the headquarters of Huatai Group from Beijing to Tianjin.

At the signing ceremony of the cooperation agreement, Zhang Xiugen was full of enthusiasm and confidence. He not only planned to build a third R&D center and production base in Tianjin, but also planned to invest 8.6 billion yuan to turn Huatai into an internationally competitive brand with independent intellectual property rights.

at this time, the state has issued a "promotion plan for new energy vehicles", hoping to achieve "overtaking in corners" on the track of new energy vehicles. Zhang Xiugen, with a keen sense of smell, realized that the era of electric vehicles was coming.

in p>217, Huatai automobile built the first pure electric SUV and sold nearly 1, vehicles.

Huatai Group

The second highlight moment of Zhang Xiugen's life has come.

In an interview, he announced in a high-profile way that Huatai has mastered the core manufacturing technology of new energy vehicles, and has the independent intellectual property rights of pure electric vehicles, and has also been authorized by relevant invention patents.

Moreover, Huatai has established a new energy project for lithium batteries, from upstream materials of lithium batteries to vehicle production, forming a complete lithium battery industrial chain.

In order to obtain more advanced technology, Zhang Xiugen also opened its R&D center in Munich.

At this time, Zhang Xiugen is holding Huatai Automobile, which seems to be a big shot in the industry.

in p>218, Zhang Xiugen spent 3.1 billion yuan to acquire Shuguang shares in the new energy market, obtained the production qualification of new energy vehicles, and successfully listed on the backdoor.

Looking at the whole new energy vehicle market, Weilai has just taken shape, BYD is still concentrating on making batteries, and Huatai can be said to be invincible all over the world.

When the car factory

was proud of its life, Zhang Xiugen called "Huatai" the "No.1 brand of independent cars in China" and predicted that in 218, Huatai's vehicle sales would reach 2,, and by 22, it would exceed 5,.

The world is waiting for Zhang Xiugen to create more glory, but the reality makes Zhang Xiugen slap in the face.

In p>218, the news that China Automobile Association refused to use Huatai's sales data was like a bomb, which unveiled the "emperor's new clothes" in Zhang Xiugen.

it turns out that the sales of Huatai automobile have been seriously flooded in recent years, and the beautiful performance depends entirely on fraud!

Huatai automobile is thriving, but it's all shiny on the surface.

In fact, at the beginning, the two cars that Zhang Xiugen cooperated with Hyundai were really popular in the market, but after leaving Hyundai, Huatai's life was hard.

after the "Hyundai" logo was removed, the sales of Huatai Santa Fe declined day by day.

Although "Huatai B11" and "Huatai Baolige" were introduced later, their sales were bleak.

Especially Huatai Automobile, all kinds of luxury cars in shanzhai have caused the whole industry to vomit.

The serious collision between Huatai model and luxury car, the appearance of B11 almost completely copied Bentley; "Baolige" is almost the same as "Porsche Cayenne", and even the interior has been vomited by users, completely copying "Toyota Camry".

Zhang Xiugen's rhetoric of "independent research and development" is a complete joke.

Huatai car looks like a fake, but its quality is even more worrying. Frequent quality problems such as gear shifting and engines, and problems in production capacity, led to the listing of new cars in that year, and the number of licensed cars was less than 1.

Huatai Automobile Factory

However, all this was covered up by Huatai.

in p>211, Huatai claimed that it sold 3, vehicles in the first four months, but actually only sold 1 vehicles.

In January p>218, Huatai Automobile announced 1316 vehicles, but a month ago, they also advertised a monthly sales of 21, vehicles.

under the premise of no major events, the sales data of the previous month is 16 times different! I'm afraid the data of Huatai Automobile is filled in with your eyes closed!

in a fit of pique, China Automobile Association zeroed Huatai's annual sales data.

officially, Huatai, the myth of making cars, instantly became the laughing stock of the industry.

A stone stirred up a thousand waves, and the scandal of Huatai blossomed in an all-round way.

In p>219, the internal mail of a bank will flow out, and Huatai Automobile will enter bankruptcy proceedings.

At the same time, Huatai employees accused Huatai of unpaid wages. More Huatai employees have revealed that the new energy vehicles that used to have unlimited scenery have long been discontinued, and the entire R&D department is empty, with no R&D personnel.

Huatai's production base in Ordos has been shut down for a long time, and more than 6, mu of production workshops have been idle.

after investigation, the reporter found that Huatai pledged all its shares after acquiring Shuguang, and all of them were frozen due to insolvency.

Huatai, together with several of its subsidiaries, is on the Lao Lai list.

The production base stopped production, the R&D personnel left collectively, the supplier was in arrears with payment, the stock right was frozen, and the thunder laid by Zhang Xiugen broke out!

As of 219, Huatai's debt has reached 29.4 billion.

To everyone's surprise, Zhang Xiugen has remained firmly on the Forbes list of global billionaires in recent years!

in p>219, Zhang Xiugen was worth 13.8 billion yuan.

in p>22, Zhang Xiugen was worth 13.99 billion yuan.

in p>221, Zhang Xiugen was worth 14.13 billion yuan.

On the one hand, Huatai Company is insolvent, and on the other hand, the wealth of Zhang Xiugen, the big boss, has increased instead of falling, which makes people wonder, why does Zhang Xiugen rely on it?

At this time, everyone discovered that the coal mines and land obtained by painting cakes were all changed hands by Zhang Xiugen and replaced with real money!

It turns out that Huatai did not invest in the R&D and production of automobiles after moving to Ordos to get land and coal mines, but obtained huge loans from banks as collateral.

He earned 4 billion yuan just because two coal mines changed hands. This kind of quick money is much easier than building and selling cars.

Zhang Xiugen

Zhang Xiugen, who tasted the sweetness, began to do the same thing again.

in p>218, the lawsuits in Zhang Xiugen and Erdos are deadlocked.

At this time, Zhang Xiugen went south to Hunan without blushing or jumping, and continued to fool the lake with the car-making project.

He used false data and false achievements to push the car-making project forward exceptionally smoothly, and it took only 41 days from signing the contract to handing over the land.

I have to say that Zhang Xiugen played a trick of "White Wolf with Empty Gloves" to the extreme.

Zhang Xiugen holds a large amount of land and coal mines as collateral to obtain high loans from banks. But this is far from satisfying Zhang Xiugen's ambition. In order to obtain a higher amount of credit, Zhang Xiugen used Huatai Automobile to buy shares in the bank, and then pledged land to the bank to exchange money.

Even after borrowing Shuguang to go public, the acquired shares were immediately pledged and exchanged for money.

although the "big plan" is played smoothly, the borrowed money will be paid back after all.

Huatai has never had a good product, and its main business lacks the ability to make blood, so it is only a matter of time before the funds are broken.

in the first half of p>222, the whole network was looking for Zhang Xiugen.

The company directly announced that the chairman had lost contact, and even Zhang Xiugen's son said that he could not find his father.

Until September 2th, Dawning announced that Zhang Xiugen, the long-lost chairman, had been arrested.

Zhang Xiugen, the originator of car-making and endorsed by CCTV, has gradually become a swindler of money from the "myth of car-making", which is really embarrassing.

Maybe Zhang Xiugen didn't want to "build a car" with his heart in the first place. He once compared the business model of Huatai Automobile to "ten jars and nine lids", that is, constantly using the projects in hand to finance and turn around.

In his eyes, "building a car" is just a financing tool.

After all, the land and resources exchanged by "building a car" can earn a lot of money by reversing a few hands, which is much easier than building a car through hard work.

It is precisely because of the shortcut that I set foot on that I got out of control and went to the point of no return.

Shortcut is the farthest detour. No matter how gorgeous the bubble is, it will be broken.

if I had known today, would Zhang Xiugen be willing to concentrate on building cars in a down-to-earth way?