Online exposure of an internal email from a joint-stock bank asked to carry out internal risk investigation on the upstream and downstream industrial chains of the four auto enterprises. According to media reports, cheetah automobile, Zhongtai automobile, Huatai Automobile and Lifan automobile will enter bankruptcy proceedings by the end of the year.
The joint-stock bank made it clear in the notice that "cheetah automobile, Zhongtai automobile, Huatai Automobile and Lifan automobile will enter bankruptcy proceedings by the end of the year, and it is expected to involve a total of about 50 billion yuan of bad debts in the industrial chain of upstream and downstream auto parts suppliers."