The continuous reduction of battery orders and the suspension of some production lines are the conditions that Hebei Yinlong has faced in the past six months.
In the Yinlong Park of Hebei Province, the number of people in these days was a lot more than last month. Many employees need to come back for a collective resignation.
Regarding the outside company’s statement that the company “reduces production, suspends work, layoffs”, Hebei Yinlong personnel department is very cautious. He told the Securities Daily: 'We all signed confidentiality agreements when we entered the company, so it is not convenient to disclose specific information to the public. However, he said, 'There are thousands of employees in our company, such a large company, personnel changes are normal.'
A Hebei Yinlong staff member said that recent media coverage of Hebei Yinlong's large-scale production cuts made them very nervous.
In fact, in addition to Hebei Yinlong, production cuts and other conditions have taken place in Yinlong New Energy (hereinafter referred to as Yinlong) factories in many places. People close to Yinlong disclosed to the “Securities Daily” reporter that Yinlong is currently in Chengdu. In factories in other industrial parks, there are also conditions for workers to leave. In May last year, Chengdu Yinlong was still recruiting people on a large scale. In just one year, the situation has changed.
A year and a half ago, the manufacturing company, Iron Lady Dong Mingzhu, also sat down with Wang Jianlin, the big estate of the real estate industry, and announced a high-profile investment in Yinlong. Since the end of last year, Yinlong has experienced a reduction in production. In this short period, In the short period of six months, what happened to Yinlong?
Half-year change: Reduced production, stoppages, exits
Six years ago, Wu'an New Energy Industrial Park was started in high-profile in Wu'an. At that time, public information showed that the project covered several blocks of lithium carbonate materials, lithium-ion batteries, new energy vehicles, energy storage, and equipment, with a total investment of 30 billion yuan. Yinlong is a large industrial park. Its subsidiary, Hebei Yinlong, North Aoti, and Guangtong Automobile, have taken most of the industrial park.
According to the plan at that time, after the investment in new energy projects was completed with a total investment of 30 billion yuan, the annual output value would reach 120 billion yuan, equivalent to recreating a city of Wu'an.
However, according to informed sources, recently, staff of the Hebei Yinlong Plant’s workshops were receiving notice and were required to attend one-month training. The training period ended on May 31. Staff who could not attend the training on time, Will be left by default.
"There is no money during the training. If you are late for training, you will be dismissed. After the training, you will need to pass the assessment. If you don't pass, you will need to be dismissed. The factory will not voluntarily dismiss us. But such harsh conditions are not forcing us to leave?' Employees of Hebei Yinlong who are currently in the process of resigning said that due to the stricter assessment and lack of money during the training period, many Yinlong employees had no choice but to leave after receiving the notice.
Most of the young people (employees) have left. The rest are old. But if they pass the assessment, they will have to leave sooner or later. 'He sighed, 'Usually (our) salary is very low, In the off-season it costs two or three thousand dollars. In these few months, it only costs one thousand yuan per month. The rest of the wage companies are not able to make it. We can't afford it.'
This reporter learned that in the Hebei Yinlong plant, different production lines are handled by different workshops. The staff of a workshop are grouped according to different types of work, and a group of about 60 people. In the case of normal production, the staff of a workshop is approximately 700 people.
There are five battery production workshops in Hebei Yinlong. And only one of them has taken more than 600 employees this time. In other words, the remaining employees are less than 100. And if these employees cannot pass the assessment at the end of the month , will also face the 'take away'. The situation of several other workshops are also roughly the same.
It is understood that the real change in Yinlong began at the end of last year. At that time, Yinlong’s car orders had been reduced substantially, and production had plummeted. During the six months, Yinlong’s situation did not improve, and great changes occurred.
Located in this industrial park, Hebei Yinlong, North Ao Titanium and Guangtong Automobile, all of which are under the ownership of Yinlong, are upstream and downstream, supporting each other's businesses.
Recently, Guangtong Motors had a problem with its sales, and orders suddenly decreased. This directly led to Hebei Yinlong, which provided batteries for it, also falling into a state of overcapacity, and accumulated a large amount of inventory.
'The car production is very bad. Part of the car's production line is being demolished, (the company) may not be done. The auto production line also has the situation of layoffs and external adjustments, some of the staff were transferred to Chengdu and other parks. 'A person familiar with the situation disclosed.
The “Securities Daily” reporter learned that, in fact, this situation is also happening in other production areas in Yinlong, and employees in Chengdu and other parks also have a holiday.
Mid-term pain: expansion, transformation, gap
During the interview, a person familiar with the matter said: “Yin Long's problems in the market, Dong Mingzhu also noticed. After investing in Yinlong, Dong Mingzhu managed to sell to the business line and made a large-scale transformation of Yinlong. '
Two years ago, Dong Mingzhu brought RMB 3 billion in capital support for Yinlong, and Yinlong began to expand at a high speed and built many new park layouts. Dong Mingzhu personally invested over RMB 2 billion and became Yinlong’s. The second largest shareholder.
Since 2017, Yinlong has expanded or built new energy industrial parks in about 8 cities. According to statistics, its total investment is as high as 70 billion yuan. However, according to public information, only Yinchuan, Shijiazhuang, and Chengdu have been built in Yinlong. Waiting for several parks. At the time of Yinlong's big expansion, Yinlong was exposed by suppliers for debt collection and other incidents, and Yinlong was also pointed out by industry insiders that there was a funding gap.
At the same time, Yinlong's organizational structure has undergone adjustments. Many senior Gree executives have occupied Yinlong's important positions.
In this process, the roles of Dong Mingzhu and Wei Yincang in Yinlong also quietly changed.
In August last year, Yinlong signed with the Luoyang and Chengdu municipal governments. It was not Wei Yincang but Dong Mingzhu who was at the core position in the photo session. Three months later, Yinlong’s founders Wei Yincang and Sun Guohua were all eliminated. Entered Yinlong. However, information on Yinlong’s arrears, production cuts, etc. has also been circulating.
Now, in public, Dong Mingzhu seems to be unwilling to mention more about Yin Long.
'After the painful transformation, Dong Mingzhu will also have greater actions on Yinlong.' An industry source revealed.
Market Prospects: Controversy, Saturation, Unknown
The recent reduction in production and work stoppages faced by Yinlong has made it difficult for the controversial core technology to be directly related to market recognition.
All along, many of Yinlong's technologies have been controversial. Its lithium titanate batteries, which are mainly used in the field of batteries, are considered by outsiders to have low energy density and high prices. They have not had much advantage in market competition. And there are industry experts who point out that silver The titanium nanometer ball making technology of Long North titanium has no practical significance in the battery material.
Industry insiders believe that Yinlong’s current production is mainly pure electric buses. Most of the purchase targets are local governments. Once the market is saturated, Yinlong has not really opened a new market. It is easy to fall into a passive market and reduce production.
'In the cooperation model, most of Yinlong's use of the first delivery to the partner, the other party instalments. This mode of payment is slow, it is easy for the company to have a funding gap.' A person familiar with the situation said.
After Dong Mingzhu invested in Yinlong, the outside world once speculated whether Yinlong would be the next stop of Dong Mingzhu. At the moment, it is difficult for us to equate Dong Mingzhu and Yinlong.