Baolide Headquarters Abandoned as Company Files for Bankruptcy

[Corporate Crisis] Luxury car dealer Baolide has been reported to have vacated its headquarters and entered bankruptcy liquidation proceedings.

Key Developments: Baolide filed for bankruptcy in August 2025; in September, the Hangzhou Intermediate People's Court appointed an administrator.

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  Once among Zhejiang’s largest luxury car dealers, representing over ten brands including Mercedes-Benz, Audi, and Porsche, and ranked within the top 25 of the national dealership百强 list.

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  Headquartered in Gongyuan Building, Hangzhou, with office spaces on the 5th and 10th floors largely emptied; only technical staff remained until end of January. The 15th floor was designated as the creditor claims filing office.

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  Its Hangzhou Xingbaoxing showroom is locked shut, displaying a court-issued enforcement ruling notice; all vehicles inside have been removed, leaving heavy dust accumulation.

Industry Impact: Traditional 4S dealership model faces accelerated elimination due to pressure from new energy vehicles and online car purchasing

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  Declining internal combustion engine vehicle sales and shifting consumer preference toward online vehicle ordering have rendered traditional dealership profit models unsustainable.

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  Since 2024, multiple outlets have encountered issues including delivery delays, layoffs, unpaid wages, and inability to register vehicles. The Songjiang store in Shanghai had its Mercedes-Benz authorization terminated in March 2025.