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Evergrande's EV Brand Hengchi Begins Layoffs and Salary Cuts to Cope With Financial Difficulties
Evergrande's EV Brand Hengchi Begins Layoffs and Salary Cuts to Cope With Financial Difficulties
Hengchi's previous staffing structure was based on the company's need to develop nine models simultaneously, according to local media.
Hengchi Auto, the electric vehicle (EV) brand of Chinese real estate developer Evergrande Group, appears to be starting to face real trouble after deliveries of its first model began only a month ago.
Hengchi is laying off 10 percent of its workforce, with some business lines likely to have higher layoffs, the Securities Times said in a report today, citing people close to the EV maker.
In addition, 25 percent of employees are suspended from work for one to three months, according to the report.
Hengchi's previous staffing structure was based on the company's need to develop nine models simultaneously, but now the company is making strategic changes in light of the Covid epidemic and market reasons, the report said.
These moves are aimed at reducing costs, increasing efficiency and focusing resources on ensuring the production and delivery of the Hengchi 5, as well as the development and mass production of the Hengchi 6 and Hengchi 7, the report said.
On December 1, sales staff at Hengchi showrooms in several Chinese cities said they were recently told they would be suspended from work and pay, and some said their salaries had been owed for months, according to a Cailian report yesterday.
According to a notice received by one employee, Hengchi said it would be optimizing its staff due to recent serious operational difficulties and would suspend him for up to three months starting December 1, according to the report.
If the employee wants to join another company during the suspension period, he must submit a written resignation request at least three working days in advance, the notice shows.
The Hengchi 5 SUV, Hengchi's first model in production, went on pre-sale on July 6 and is currently available in only one version at a subsidized price of RMB 179,000 ($25,350).
The model opens for delivery on October 29, with the first 100 units delivered, according to information released by Hengchi in late October.
On September 16, Hengchi announced the mass production of the Hengchi 5 at its plant in Tianjin, and said it is also working on additional models.
Hengchi 6 will roll off the production line at the end of this year, with mass production in the first half of next year. Hengchi 7 will roll off the production line in the first half of next year, with mass production in the second half of next year, the company said at the time.
This comes on the heels of reports that Hengchi is facing operational difficulties.
On August 17, Jiemian reported that Hengchi's plant in Tianjin would halt production from August 18 due to a shortage of raw materials. However, the report was later refuted.
The company's president, Liu Yongzhuo, said at the time that the Tianjin plant was still in normal production and that mass production of Hengchi 5 was progressing in an orderly manner.
Hengchi's previous staffing structure was based on the company's need to develop nine models simultaneously, according to local media.
据当地媒体报道,Hengchi之前的人员配置结构是基于该公司需要同时开发九种车型。
Hengchi Auto, the electric vehicle (EV) brand of Chinese real estate developer Evergrande Group, appears to be starting to face real trouble after deliveries of its first model began only a month ago.
中国房地产开发商恒大集团旗下的电动汽车(EV)品牌恒驰汽车在一个月前才开始交付其首款车型后,似乎开始面临真正的麻烦。
Hengchi is laying off 10 percent of its workforce, with some business lines likely to have higher layoffs, the Securities Times said in a report today, citing people close to the EV maker.
《证券时报》今天在一份报告中援引与这家电动汽车制造商关系密切的人士的话说,恒驰正在裁员10%,一些业务部门的裁员人数可能会更多。
In addition, 25 percent of employees are suspended from work for one to three months, according to the report.
此外,报告显示,有25%的员工被停职一到三个月。
Hengchi's previous staffing structure was based on the company's need to develop nine models simultaneously, but now the company is making strategic changes in light of the Covid epidemic and market reasons, the report said.
报告称,Hengchi之前的人员配置结构是基于该公司需要同时开发九种车型,但鉴于Covid疫情和市场原因,该公司现在正在进行战略调整。
These moves are aimed at reducing costs, increasing efficiency and focusing resources on ensuring the production and delivery of the Hengchi 5, as well as the development and mass production of the Hengchi 6 and Hengchi 7, the report said.
报告称,这些举措旨在降低成本,提高效率,并将资源集中在确保Hengchi 5的生产和交付以及Hengchi 6和Hengchi 7的开发和批量生产上。
On December 1, sales staff at Hengchi showrooms in several Chinese cities said they were recently told they would be suspended from work and pay, and some said their salaries had been owed for months, according to a Cailian report yesterday.
根据财联昨天的一份报告,12月1日,中国多个城市的恒驰展厅的销售人员表示,他们最近被告知将被停职和停职,有些人说他们的工资已经拖欠了几个月。
According to a notice received by one employee, Hengchi said it would be optimizing its staff due to recent serious operational difficulties and would suspend him for up to three months starting December 1, according to the report.
报告称,根据一名员工收到的通知,恒驰表示,由于最近的严重运营困难,它将优化员工,并将从12月1日起将他停职长达三个月。
If the employee wants to join another company during the suspension period, he must submit a written resignation request at least three working days in advance, the notice shows.
通知显示,如果员工想在停职期间加入另一家公司,他必须至少提前三个工作日提交书面辞职申请。
The Hengchi 5 SUV, Hengchi's first model in production, went on pre-sale on July 6 and is currently available in only one version at a subsidized price of RMB 179,000 ($25,350).
恒驰5SUV是恒驰首款量产车型,于7月6日开始预售,目前仅提供一个版本,补贴价格为17.9万元人民币(合25,350美元)。
The model opens for delivery on October 29, with the first 100 units delivered, according to information released by Hengchi in late October.
根据恒驰在10月下旬发布的信息,该车型将于10月29日开始交付,首批100辆已交付。
On September 16, Hengchi announced the mass production of the Hengchi 5 at its plant in Tianjin, and said it is also working on additional models.
9月16日,恒驰宣布在其天津工厂量产Hengchi 5,并表示还在开发更多车型。
Hengchi 6 will roll off the production line at the end of this year, with mass production in the first half of next year. Hengchi 7 will roll off the production line in the first half of next year, with mass production in the second half of next year, the company said at the time.
恒驰6将于今年年底下线,明年上半年量产。该公司当时表示,恒驰7将在明年上半年下线,明年下半年量产。
This comes on the heels of reports that Hengchi is facing operational difficulties.
这是在有报道称恒驰面临运营困难之后发生的。
On August 17, Jiemian reported that Hengchi's plant in Tianjin would halt production from August 18 due to a shortage of raw materials. However, the report was later refuted.
8月17日,界面报道称,由于原材料短缺,恒驰在天津的工厂将从8月18日起停止生产。但是,该报告后来被驳回。
The company's president, Liu Yongzhuo, said at the time that the Tianjin plant was still in normal production and that mass production of Hengchi 5 was progressing in an orderly manner.
该公司总裁刘永卓当时表示,天津工厂仍处于正常生产状态,恒驰5的批量生产正在有序进行。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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