WM Motor recovers, Hubei Xinghui New Energy blocks equity

Recently, the latest situation about WM Motor Technology Group Co., Ltd. has attracted widespread attention. According to the Tianyancha APP, WM Motor's equity freeze information shows that its total frozen equity is as high as 6 billion yuan, and the frozen equity belongs to Hubei Xinghui New Energy Intelligent Vehicle Co., Ltd. This freezing measure will last from August 11, 2023 to August 10, 2026

It is reported that Hubei Xinghui New Energy Intelligent Vehicle Co., Ltd. was established in April 2017, and Shen Hui serves as the legal representative , executive directors and managers. The company's registered capital is as high as 6 billion yuan, and it is currently fully held by WM Motor Technology Group Co., Ltd.

It is worth noting that, in addition to the newly added equity freeze information this time In addition, the equity of Hubei Xinghui New Energy Intelligent Vehicle Co., Ltd. was also disclosed on the National Enterprise Credit Information Publicity System website at the end of July that it had been frozen. The frozen amount is approximately 19.6762 million yuan, and the executor is WM Motor Technology Group Co., Ltd. The freezing period is from July 28, 2023 to July 27, 2026

As far as the editor understands, WM Motor has been in trouble since 2023. Negative news frequently comes out of the company, including the suspension of all employees without pay, factory shutdowns, store closures, and even arrears in rent and property fees for the headquarters building. At the end of last year, WM Motor reported a salary cut, including a 50% salary cut for management and a 30% salary cut for employees. At the beginning of this year, the company also triggered an investigation by the labor inspection department because some employees held a rights protection activity at the factory gate. What's more serious is that in June this year, media reports pointed out that WM Motor once again suspended wages. Currently, only middle- and senior-level directors and above are paid, and the salary payment of other employees has been suspended.

Weima Motors stated that they We are going all out to provide user services, repay debts legally and orderly, and actively promote the internationalization plan of new energy vehicles. However, the current situation shows that WM Motor needs to overcome many difficulties and go through a long road to get out of trouble

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