BYD reports to police that Nanning Fakes company has been bought by Chinese giant NEV

(Yicai Global) Sept. 26 — BYD reported a company in Nanning, southwest China’s Guangxi Zhuang Autonomous Regions to police, falsely claiming it was acquired by a unit of the Chinese automaker. of new energy vehicles, Yicai Global has learned.

BYD Guangxi New Energy is not a wholly owned subsidiary of BYD Auto Industry, and it forged BYD’s seal and the signature of its chairman Wang Chuanfuthe, the Shenzhen-based company told Yicai Global on Sept. 24. The bogus company has yet to respond. .

Nanning Xiaozhongzheng’s commercial secretary recently announced that all of its shares have been acquired by BYD Auto Industry and it will change its name to BYD Guangxi New Energy.

The Nanning Municipal Administrative Examination and Approval Bureau has already canceled the registration of the commercial secretarial company to change its name.

It is unclear whether the counterfeit seal used by Xiaozhongzheng’s commercial secretary was created by Shangdian Seal Production, a seal engraving company whose legal representative is Nong Caiyun, the major shareholder and legal representative of Xiaozhongzheng’s commercial secretary, according to the Tianyancha enterprise information platform.

BYD has invested over 16.3 billion CNY (2.3 billion USD) in at least five major projects in Nanning so far this year, which could be grounds for fraud.

This is not the first time that BYD has found itself in such a situation. In May 2017, Li Juan, on behalf of Shanghai Yuhong Cultural Communication, contacted BYD to do free publicity and then forged his seal to do business on behalf of BYD, the automaker said in July 2018. Li said was sentenced to 14 years for contract fraud in December 2019.

Publisher: Futura Costaglione

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