Another new car-making force is in trouble? Employees pressed their fingerprints to collectively report: Management falsified sales and violent layoffs

Daily Economic News reported that on the evening of April 9, a new car company called "XEV Youyao Automobile" issued a notice to shareholders on its official WeChat public account. The book lists several major crimes of management in detail. Employees of the company believe that the company is now facing a series of difficulties and shareholders have the right to know the true situation.

The shareholder letter of "XEV Youyao Automobile" stated that the company has never formulated clear goals and plans that are in line with market rules and a clear budget system, resulting in unreasonable annual sales targets and poor financial management. Chaos, the company's cash flow is close to breaking by the end of 2023. At present, XEV Group's overall external liabilities exceed 300 million, and its assets are worth less than 100 million, making it seriously insolvent.

The shareholder report pointed out that the management fabricated 70 million sales expenses in the annual report, of which more than 44 million was the backlog of after-sales claims expenses for the old models that the chairman was responsible for selling in the past. This part of the claim has never been accrued in previous statements.

Even though the company’s cash flow had deteriorated in December last year, the management still rented a sea-view office in Hong Kong and carried out luxurious decoration, which was unable to help the company’s core business. At the end of the shareholder letter, it was also stated that the company's chairman Lu Di and chief financial officer He Jianghao had committed serious dereliction of duty in the company's operation and management, and were suspected of fabricating sales, concealing the truth, making wrong decisions, and chaotic management in the company's operation and management.

The signature at the end of the shareholder letter of "XEV Youyao Automobile" shows that this shareholder letter is sponsored by Hefei Youyao Technology Co., Ltd., Shanghai Youyao Technology Co., Ltd., Shanghai Yaoyao Technology Co., Ltd., Shanghai Youyao Written by all employees of Zhizao New Energy Vehicle Sales Co., Ltd. At the end of the notice to shareholders, the employees’ fingerprints and signatures were attached. They believed that shareholders had the right to know the true situation.

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