News on May 7, the Tianyancha APP shows that Reading Automobile Group Co., Ltd. has added a "bankruptcy reorganization" information, case number is (2023) Lu 0725 Boshen No. 1, the case type is "bankruptcy review case", the applicant and the respondent are Reading Automobile Group Co., Ltd.
In this regard, a relevant person from Reading Automobile told the media: "There is no response at present. Some media contacted Li Guoxin, the founder of Reading Automobile, for further verification, but the phone prompt tone was "The user you called is temporarily unreachable."
It is reported that Reading Automobile Group Co., Ltd. is located in Weifang City, Shandong Province, established in October 2012, the legal representative is Wang Dejin, the registered capital and paid-in capital are 100 million yuan, is an enterprise mainly engaged in automobile manufacturing, 100% controlled by Bidwin Holding Group Co., Ltd.
Tianyan investigation shows that Li Guoxin is the initiator of Reading Automobile Group Co., Ltd., and stepped down as a legal person, executive director and general manager of Bidwen Holding Group Co., Ltd. in December 2020.
In the past year, Reading Auto has been frequently involved in litigation, with a total of 822 judicial risks, mostly for sales contract disputes. At the same time, the company has 190 legal proceedings, with a total case amount of 206.21092026 million yuan.
In addition, in February this year, an "Open Letter from Jiangsu Dealers to the Joint Investigation Team of Reading Provinces and Cities" signed and sealed by Reading car dealers circulated on the Internet.
The "Open Letter" listed many unreasonable operations in the operation of Reading Automobile, which eventually led to the loss of millions of yuan for dealers.
Reading car dealers believe that "Reading has been a scam company from the beginning, and every step of the way it operates is an elaborate scam." The dealers said, "The dealer is a victim of the Reading scam, and the Jiangsu dealer requests the joint investigation team to strictly investigate the matter and give them an explanation." However, Reading did not respond at the time.
