After the farce of ＂water and hydrogen engine＂, the chairman of Hangzhou Youth Automobile went bankrupt and became ＂Lao Lai＂

CCTV News:Young cars that have returned to the public view due to the "water-hydrogen engine" incident have been screened again recently because Hangzhou Youth Car officially declared bankruptcy. According to the people’s court announcement network, the bankruptcy property of Hangzhou Youth Automobile has been distributed.

According to Tianyancha, Hangzhou Youth Automobile Co., Ltd. was established in June 2008, and its business scope includes stamping parts for passenger cars, wholesale and retail cars, etc. Jinhua Youth Lotus Holding Group Co., Ltd. holds 90% of the shares, and Pang Qingnian, the chairman of the company, has also been included in the untrustworthy list and restricted from spending.

In August this year, Haining Asset Management Company applied to the Intermediate People’s Court of Jinhua City, Zhejiang Province for bankruptcy liquidation of Youth Automobile Group on the grounds that Youth Automobile Group failed to pay off its debts due and clearly lacked solvency, but it was rejected. The court held that some of the core resources of the youth automobile series enterprises have operational value, and the youth group continues to operate, and there is no situation that the assets cannot be realized at all; Although Youth Automobile Group has some difficulties in paying off debts, it is possible to pay off debts through self-negotiation, government assistance and investment introduction.

However, three months later, the youth car is still going bankrupt. According to the announcement of the people’s court’s bulletin board, because the bankruptcy property of young cars has been distributed, in accordance with the provisions of Article 120 of the Enterprise Bankruptcy Law of the People’s Republic of China, the bankruptcy procedure of young cars was ruled to end on October 21, 2019.

According to the announcement, the total distributable bankruptcy property of Hangzhou Youth Automobile is 214 million yuan, of which after bankruptcy expenses, public welfare debts, employees’ labor claims, taxes and payable social security funds, the amount used by Youth Automobile to pay off ordinary bankruptcy claims is 205 million yuan, and the debt repayment rate is 28.47%.

Query on the introduction of hydrogen energy vehicle for water production in Nanyang, Henan Province

In fact, the reason why young cars have attracted much attention is also due to a farce of "Nanyang Hydro-hydrogen Car" in the first half of the year. On May 22 this year, an article entitled "Water-hydrogen engine rolled off the assembly line in Nanyang, and the secretary of the municipal party committee praised it! The article ""sparked a heated discussion on the Internet. It was reported that the hydrogen energy automobile project in Nanyang, Henan Province has achieved the latest results, and "the vehicle can drive only by adding water". In addition to the Nanyang news broadcast, Nanyang Daily on May 23 also published a headline entitled "Water-hydrogen engine goes offline in Nanyang, and the secretary of the municipal party committee likes it!" In the report, it was mentioned that "the water-hydrogen engine is officially off the assembly line in our city, which means that the vehicle-mounted water can produce hydrogen in real time, and the vehicle can run only by adding water." This news quickly caused a heated discussion on the Internet, and many media followed up the report. Some experts think that the technology of water-hydrogen engine is only feasible in theory, but there are big problems in practical application. This project may be suspected of grandstanding. Henan Nanyang Municipal Bureau of Industry and Information Technology said in an interview with the media today that the water-hydrogen engine has not been certified and accepted.