Lifan Group filed for bankruptcy! The richest man in Chongqing was sad in his later years, and he lost everything if he made a mistake.

Lifan Group filed for bankruptcy.

On August 6th, 2020, Lifan Group announced that its controlling shareholder, chongqing lifan Holdings Co., Ltd., could not pay off its debts due, and its assets were insufficient to pay off all its debts. Apply to the Fifth Intermediate People's Court of Chongqing for bankruptcy and reorganization.

The former "King of Motorcycles in China" struggled for more than two years in bankruptcy rumors, once dismissed rumors, and finally fell in the eventful autumn of 2020.

Lifan Holdings, the controlling shareholder, filed for bankruptcy this time. According to the shareholder information, Zong * * * owns 47.08% of the shares of Lifan Group and is the largest shareholder of Lifan Group.

According to the data of "Tianyancha", this Lifan Holding Company is actually controlled by Yin Mingshan, the founder of Lifan Group. The legal person is his wife Chen Qiaofeng, and among the shareholders are Yin Mingshan and his two children.

"Lifan Holdings" filed for bankruptcy, and Lifan Group's own debt crisis is also difficult to breathe. By the end of the first quarter of this year, Lifan Group had total assets of 65.438+08.293 billion yuan, total liabilities of 65.438+057./kloc-0.9 billion yuan, net assets of 2.575 billion yuan and asset-liability ratio of 85.93%.

In addition, Lifan Group is beset with lawsuits. At present, the company is involved in 392 lawsuits and arbitrations, involving an amount of 2.906 billion yuan, of which 2.21case has been arbitrated, involving an amount of 654.38+83.6 million yuan. There are 82 cases that have not yet been tried, 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.

In June this year, Lifan was sued by the other party for being unable to repay the loan of 563,000 yuan, and asked the court to go bankrupt and reorganize. It can be seen how tight the capital chain of Lifan Group is now.

The future of Lifan Group, which once created the richest man in Chongqing, is uncertain and its life hangs by a thread. How did you get here step by step?

2、

Chongqing's richest man was sad in his later years.

In 2020, Yin Mingshan was 82 years old.

10 years ago, 72-year-old Yin Mingshan led Lifan Group to go public successfully, and he also became the richest man in Chongqing. At that time, he was an inspirational idol worshipped by countless people in China.

His life is full of legends.

Yin Mingshan, 1938, was born in Fuling, Chongqing. At the age of 20, he was a senior three student in Chongqing No.1 Middle School. He was about to enter the university, but he was condemned for his "capitalist tendency", which led to his 20 years in prison.

Yes, you are right. Because of what he said, he was imprisoned for 20 years. If the 1978 movement had not ended, he might have spent the rest of his life in a reform-through-labour farm.

Yin Mingshan in prison didn't sink. He began to read many books and taught himself English. When he was released from prison 20 years later, at the age of 40, his English level had reached the level of translating English books. Because of this, he found a job as an English teacher in Chongqing Design Institute soon after he got out of prison.

But the salary of being a teacher is too low. A few years later, Yin Mingshan resigned and started a book business. 1985, Yin Mingshan founded "Chongqing Vocational Education Bookstore" and edited and distributed "A dime series for middle school students" by himself, each book earned 1 cent, and sold 1 00000 copies, earning the first10000 yuan in life.

But this penny business has gradually failed to enter Yin Mingshan's eyes. He found it difficult to expand the book business and constantly looked for opportunities to "do a big job".

In the 1990s, Yin Mingshan discovered business opportunities while chatting with a group of friends in a motorcycle repair shop.

A friend told him that he needed hundreds of engines every month, but he wanted to buy them in Henan. The price is high and the quality is poor. Although there are two local motorcycle giants, Jialing and Jianshe, people simply don't want to sell their engines to small repair shops, so they can only go further and further.

Yin Mingshan thought that if he could produce engines and sell them to these small factories, wouldn't it be a way to get rich? So he thought of a way: go to the maintenance department of the construction team to buy the main spare parts of the engine, and then assemble the engine himself. The cost is only 1400, but it can be sold for nearly 2000 yuan. It took the construction team a long time to react and ordered that none of the parts could be sold to Yin Mingshan, but it was too late.

Yin Mingshan, who mastered the "core technology" of the engine, produced his own motorcycle-lifan motorcycle.

In 1990s, motorcycle, as a new means of transportation, was once a symbol of China's family wealth. Yin Mingshan seized this opportunity to make a fortune, fought his way out in Chongqing where motorcycle giants gathered, and became a motorcycle giant in China.

After ten years of painstaking efforts, Lifan has created a number of domestic firsts, the first four-stroke 100 engine, and the first motorcycle enterprise to acquire the A-League football team. By 2003, Lifan Motorcycle had become the largest motorcycle manufacturer in China, and Yin Mingshan had been on Forbes China Rich List for many times.

In those years, Yin Mingshan not only gained wealth, but also gained social status. His legendary experience and family background have become anecdotes that Chongqing people relish. He was elected as the president of Chongqing Chamber of Commerce and Industry and a member of the Chinese People's Political Consultative Conference, and topped the charity list in Chongqing seven times.

In the eyes of fellow villagers, he is "brave and knowledgeable, affectionate and righteous." When he became rich, he built roads, teaching buildings, streets and libraries in his hometown. As long as their hometown needs them, Yin Mingshan always gives generously.

Yin Mingshan, a late bloomer, chose to retire at the age of 79 on 20 17. Unlike many domestic entrepreneurs, he chose a Mou Gang who has worked in Lifan for many years and is optimistic about his ability and reputation instead of giving his business to his children.

Yin Mingshan has a son and a daughter and a son, Yin Xidi. The most famous is "the owner of the first Bugatti Veyron in China".

Compared with his real name, his online name "Brother Miao" registered in the auto forum is more familiar to netizens. At that time, the sports car cost 30 million yuan, while Lifan invested only 20 million yuan in Lifan football team. It attracted Chongqing fans to say: "The big boss cries poor every day, and the small boss buys luxury cars every day. If Chongqing football wants to recover, it must leave Lifan Group! "

Although he didn't hand over the shift to his son, in fact, through holding, Yin Mingshan's family is still the absolute controller of Lifan Group, and Mou Gang is only a part-time job, and he hardly has a good life after taking over.

At present, Lifan Group is in debt crisis. Yin Mingshan, 82, may come out to take charge of the overall situation personally, but there is little hope of "turning the tide". In the most youthful 20 years and the most enjoyable old age, Yin Mingshan worked hard. From this point of view, fate is too harsh on him.

3、

One wrong step and you lose everything,

Sad heroes deserve respect.

Since Yin Mingshan Lifan became the largest motorcycle manufacturer in China in 2003, today's defeat seems to have planted the seeds of crisis.

Motorcycles have reached the peak, and the rest seem to be only gradually declining. In the new era, motorcycles are no longer a symbol of family wealth in China, but the popularity of automobiles. Also from 2003, Yin Mingshan began to March into the automobile field.

Motorcycles and cars seem to have only a few sofas and two wheels. Since they are so successful in the field of motorcycles, it shouldn't be so bad to be a car, should it?

Yin Mingshan thinks so. Many people think highly of him, but the reality is far from simple.

In the past ten years, Lifan Automobile has launched a variety of models, but in the highly competitive automobile market, it has not killed a bloody road. Whether it's a traditional car or a new energy car, Yin Mingshan has tried hard, and the result is only a financial drag.

It seems that all entrepreneurs in China have a dream of building a car. In the real estate era when they can make money with their eyes closed, whether they can build a car has become the biggest criterion to measure the success of an entrepreneur.

How many people wanted to be China's "Musk", but they turned out to be Jia Yueting.

From the performance of Lifan in recent years, we can clearly see the failure process of Yin Mingshan.

From 20 15 to 20 18, the sales volume of Lifan new energy vehicles decreased steadily, reaching 14874, 5550, 7738 and 10 166 respectively. From 2065438 to the first five months of 2009, the sales volume of Lifan's new energy vehicles was only101,down 57.77% year-on-year.

In the past ten years, Lifan * * * has launched 28 models, and now only 1 model is on sale, and 27 models are discontinued or discontinued.

Not everyone can play in the automobile industry, which needs a lot of money and complete supporting technology. Even the king of motorcycles in China was dragged down by breaking into this field.

20 16 lifan automobile's "insurance fraud incident" is even worse.

On June 20 16, Lifan exposed insurance fraud. Announcement 20 15 * * There are 2,395 vehicles that do not meet the application conditions for new energy vehicles, involving the central financial subsidy1140,000 yuan.

In that year, Lifan's automobile sales fell to the bottom, and several brands that were hard to manage were also exhausted. Even if Yin Mingshan has the ability, it is difficult to turn the tide.

Even so, if I choose again, I think Yin Mingshan will still enter the automobile field. As a former king, will he be willing to take money to speculate in real estate?

China's motorcycle market is destined to be less and less. If you don't enter the auto market, you will die. If you enter the auto market, you will gamble your life. The king of the old times, facing the battle of the new era, tried his best. Although one wrong step is doomed to lose the whole game, he lost with relish.

I can't bear to see 82-year-old Yin Mingshan face Lifan's defeat. I wish him good luck.