Lu Zhengyao and Shenzhou Auto were forced to execute more than 1 billion!The decline of “one elder brother” and the wealth capital bureau behind
On February 17, according to the China Enforcement Information Disclosure network, Shenzhou Youche Co., LTD. (hereinafter referred to as Shenzhou Youche) added a new information of the person subject to execution, the execution court for xiamen Intermediate People’s Court, the target of execution 1.08 billion yuan.Tianyan investigation shows that Shenzhou Youche is the main operating company of Shenzhou Special Car, and the legal representative is Lu Zhengyao. The related cases in which Shenzhou Youche is listed as the subject of execution are Related to Lu Zhengyao.Shenzhou Uber was once the market capitalization leader of the New Third Board, also known as the “First brother” of the New Third Board.In January 2016, Shenzhou Youche was officially established. Lu Zhengyao transferred all the assets, business, creditor’s rights and debts of the original Shenzhou Special Car and all the equity of the five subsidiaries into the company, and he himself became the chairman and CEO of Shenzhou Youche.At this time, Shenzhou Youche formed shenzhou Car rental, Shenzhou Special car, Shenzhou Buy car, Shenzhou Car flash loan four sections, “Shenzhou system” platform structure basically formed.On July 21, 2016, UNICrc was officially listed on the New Third Board, becoming the “first share of special cars”.On the day of the listing, the share price soared as high as 13%, and the company’s total market value reached 41.8 billion yuan by the end of the day.By the end of 2019, China Unicorns developed into the largest company with market value on the New Third Board.Data show that shenzhou Auto, which has been listed for three years, achieved net profit of -3.58 billion yuan, -262 million yuan and 270 million yuan respectively.At this point, “Shenzhou system” with 5 years to reach the highest moment.The turning point came with the 2019 earnings report.In the first half of 2019, the company reported a net loss of 652 million yuan.In response, Unicorro explained that the decline in its performance was caused by a decline in revenues from private cars and flash loans, as well as investment in borgward’s “new retail” model.At the beginning of 2019, China Auto Acquired 67% of The equity of Borgwald Auto and launched a series of marketing activities. However, the sales volume of Borgwald Auto is decreasing: in 2019, the sales volume was about 54,500 units, most of which were purchased by China Auto.In 2020, it sold just 8,740.When shenzhou superior car fatigue shows, Lu Zhengyao again.In 2017, Luckin coffee was incubated inside Luckin Group. Qian Zhiya, the former COO of The group, became the founder. Many employees of the company are involved in the operation of Luckin Coffee, and Luckin coffee and Luckin coffee are closely tied together.However, on January 31, 2020, Muddy Waters shorted Luckin coffee, accusing it of fudging its financial figures, and the shares took a beating.Data show that from April 3, 2020 to August 31, the total value of Shenzhou Auto fell 92.28%, leaving only 2.659 billion yuan.On March 22, 2021, THE listing of UNICrc was terminated from THE NEW Third Board. It took only ten days from the notice received on March 12 to the final delisting.Lu Zhengyao, the wealth capital bureau of Lu Zhengyao, created the “China System” with a series of shiny titles: Chairman and CEO of China Univ, chairman of China Car Rental, chairman of Beijing Borgvaux Automobile Co., LTD., chairman of Luckin Coffee.Lu Zhengyao’s road to wealth began with Shenzhou Car rental.Founded in 2007, Shenzhou car Rental once became the largest car rental company in China.Shenzhou Car Rental was listed in Hong Kong in September 2014, becoming the first share of Chinese car rental, lu Zhengyao also tasted the sweetness of capital for the first time.”The car service market is very large, and Shenzhou will not only do car rental, but will integrate the upstream and downstream of the industrial chain to seek a favorable position.”At the time, Mr Lu was ambitious.Around 2014, the domestic ride-hailing market was in a free-for-all, with Kuaidi, Didi, Yidao and Uber fighting each other.Not to be outdone, Lu launched a private car service in China in December 2014, and soon joined the ride-hailing war.In 2016, Shenzhou Youche, the main operator of shenzhou private cars, was listed on the New Third Board.Since its official establishment in January 2016, China Auto completed two rounds of financing in just four months, raising a total of 5.7 billion yuan.As early as July and September 2015, its Subsidiary Shenzhou Special Vehicle completed two rounds of financing, A and B respectively, with A total of 800 million yuan.Within one year after listing, China Auto completed two rounds of private placement financing at 16.80 yuan per share, raising a total of 7 billion yuan.In 2020, Muddy Waters’ short report showed that Lu and other investors sold 42 per cent of China Car Rental for $1.6bn over a nine-month period starting in June 2015, after the company went public.Luckin coffee became the focus of Lu zhengyao’s operation after the establishment of the Chinese branch.Media reported that at the end of 2019, Luckin prepared to refinance $865 million in the secondary market, which has exceeded the IPO financing scale.In addition, luckin management took the way of equity pledge to cash out.Luckin’s Filing dated November 25, 2019, showed that Lu had pledged 30 percent of the equity, while Lu’s sister had pledged 100 percent.Li Yingtao, a senior analyst at Analysys, said lu’s approach was the same from Rent-a-Car to Unicurrent to Luckin Coffee:The first three steps of the tetralogy of “finding the right track + capital holding + scale expansion + rapid realization” are excellent means to win the market quickly, but once the rapid realization, entrepreneurs become capitalists, individuals earn a lot of money, enterprises become “leek” everywhere, a mess.Up to now, Lu Zhengyao’s shenzhou Superior car shares have been applied for mandatory execution;Luckin confirmed that Lu zhengyao no longer owns any shares;Shenzhou car rental shares were also sold to repay the loan.Lu Zhengyao has become a capital “outsider”.To make matters worse, Lu zhengyao also became a “Lao Lai”.On January 21, 2021, the Beijing No. 4 Intermediate People’s Court listed Lu Zhengyao as a person subject to enforcement for trust-breaking and issued a “consumption restriction order” on him.After leaving a chicken feather, Lu Zhengyao has no executive assets under his name, but he and the footsteps of the old department seem to have not stopped.In 2021, Mr. Lu started a restaurant project called “Fun Little Noodles.”According to Tianyan, “Quxiaomian” belongs to Huojian Technology (Beijing) Co., LTD., with a registered capital of 10 million yuan, and the core member of the brand is Lu Zhengyao.After more than a decade of twists and turns, Lu returned to Beijing Wangjing, a new venture described by the media as “Lu zhengyao’s last shot”.