Baoneng Automobile is in deep trouble

Baoneng Automobile Group Co., Ltd. has recently encountered a serious crisis, and its parent company Shenzhen Baoneng Investment Group Co., Ltd. has had its equity of RMB 9.9 billion frozen. Since entering the automotive industry in 2017, Baoneng Automobile has invested in Qoros Auto and become its major shareholder, but Qoros Auto's sales performance is poor and is currently in a state of no one's attention. Although Baoneng Automobile has been releasing positive news about production and product planning, the challenges it faces are still huge.