Neta Auto

2025.07.17

18:11

Nezha Automobile's parent company is recruiting potential investors for restructuring, and the manager claims that it has the conditions to continue production and operation

On July 17, according to the official website of Alibaba Assets, Nezha Auto's parent company Hozhong New Energy Automobile Co., Ltd. (hereinafter referred to as "Hozhong New Energy") started pre-recruiting potential investors for restructuring on the Alibaba Assets platform, and began accepting pre-registration materials from strategic investors from July 10. The announcement shows that the restructuring administrators are Zhejiang Haihao Law Firm, Zhejiang Zicheng Law Firm, and Shanghai Junyue Law Firm, and the court accepting the case is the Jiaxing Intermediate People's Court of Zhejiang Province. The administrator said that in order to advance the bankruptcy restructuring process of Hozhong New Energy as soon as possible, effectively revitalize assets, maximize the value of the debtor's assets, and safeguard the legitimate rights and interests of all parties as much as possible, through market-oriented and legal methods to reasonably allocate resources, fully identify and give play to the operating value of the company's assets, it is now pre-recruiting potential investors for this case from the society. The administrator stated in the announcement that Hozhong New Energy has been shut down since November 2024, and it has been 8 months since then. At present, the production line equipment is operating normally, and more than 400 employees including the management team and core technical personnel are still retained, and the conditions for continuing production and operation are met.

14:03

Nezha Auto's parent company Hozon New Energy starts pre-recruitment of potential investors for restructuring

On July 17, according to Ali Asset, the pre-recruitment channel for potential investors in the restructuring of Nezha Auto's parent company Hozon New Energy Automobile Co., Ltd. was officially opened. From July 10, 2025, interested strategic investors can submit pre-registration materials through the Ali Asset platform. Previously, on June 12, the Jiaxing Intermediate People's Court ruled to accept the case of Hozon New Energy's bankruptcy and restructuring, and on the same day designated Zhejiang Haihao Law Firm, Zhejiang Zicheng Law Firm, and Shanghai Junyue Law Firm as joint administrators of Hozon New Energy. On June 18, the Jiaxing Intermediate People's Court of Zhejiang Province referred the case to the Tongxiang People's Court of Zhejiang Province for trial.

2025.06.13

18:16

Nezha Automobile officially enters bankruptcy reorganization process

The National Enterprise Bankruptcy and Reorganization Case Information Network shows that the bankruptcy review case of Nezha Auto's affiliated company Hezhong New Energy Automobile Co., Ltd. has been updated, with the addition of the administrator Zhejiang Zicheng Law Firm, the administrator's main person in charge and other information. On the evening of June 12, the "Nezha Auto Reorganization Statement" circulated online, saying that the parent company Hezhong New Energy Automobile has entered the reorganization process. On June 13, the relevant person in charge of Nezha Auto responded that this content was not officially released, but was just one of the disposal plans formulated by the company, not the final plan. The person in charge revealed that as early as the end of May to the beginning of June, the company had a next disposal plan, which was originally planned to be released before the end of June, but due to the intensification of conflicts with resigned employees, the plan may be adjusted.

13:31

Nezha Auto released a restructuring statement? Official response: It is just one of the disposal plans, not the final one

On the evening of June 12, a "Nezha Auto Reorganization Statement" was circulated online, stating that its parent company, Hozon New Energy Automobile, had entered a reorganization process. However, reporters found that the statement was not released on the official channels of Nezha Auto. On June 13, a relevant person in charge of Nezha Auto responded that this content was not officially released, but was just one of the disposal plans formulated by the company, not the final plan. The person in charge revealed that as early as the end of May to the beginning of June, the company had a next disposal plan, which was originally planned to be released before the end of June, but due to the intensified conflicts with the resigned employees, the plan may be adjusted.

2025.06.12

09:56

Nezha Auto notifies employees to work from home starting today

Nezha Auto: Employees have been working from home since June 12, and the office access control has been invalidated. Employees who move their personal belongings must report to the relevant local departments and property management through the administrative department.

2025.05.30

15:16

Nezha Auto's Shanghai headquarters building logo was removed. Insider: The company has arranged for evacuation and will start after the Dragon Boat Festival

On May 30, the reporter learned from Nezha Auto that the "Nezha Auto" LOGO on the exterior wall of its headquarters building in Putuo District, Shanghai, and the experience store logo downstairs have been removed. An insider close to Nezha Auto said that due to the expiration of the contract, the company has to change office space and will start moving after the Dragon Boat Festival. The specific new address is unknown. At the same time, relevant staff of Nezha Auto revealed that the company has rented an office building in Shanghai. Previously, Zhang Yong, the former CEO of Nezha Auto, clarified that the LOGO design fee did not exceed 1 million yuan.

13:59

Self-rescue failed? Nezha Auto people: "No" dismissal of founder, shareholders come together to save the company

On May 30, we asked Nezha Auto for confirmation of the recent reports of the removal of the Shanghai headquarters logo, the failure of the "debt-for-equity" plan, and the motion by state-owned shareholders to remove Fang Yunzhou, the founder, chairman and CEO of Nezha Auto, and generally received a negative answer. Regarding the "failure of the debt-for-equity plan", it was reported that Nezha Auto owed suppliers a total of about 6 billion yuan. On March 25, Nezha Auto had reached a debt-for-equity agreement with more than 100 suppliers for more than 2 billion yuan. The investor was originally required to resolve half of the debt, or 3 billion yuan, before it was willing to provide new funds. In this regard, the above-mentioned brand person said: "The debt-for-equity plan has no KPI. This is a plan for the company to save itself and does not involve anything else." As for the state-owned investor shareholder of Nezha Auto's parent company Hezhong New Energy Automobile, who was brewing a motion to convene a board of directors to remove Fang Yunzhou, the person responded: "It does not exist. The state-owned shareholders are saving the company with us." In terms of financing, "it has actually never stopped, but there has been no further progress."

2025.05.29

22:47

Nezha Auto debt-to-equity swap fails

According to 21 Finance, Nezha's plan to "swap debt for equity" to reduce debt in order to obtain new financing has failed. Nezha Automobile owes suppliers a total of about 6 billion yuan, and it was originally planned that only half of the debt, or 3 billion yuan, would be resolved before investors were willing to provide new funds. However, people familiar with the matter revealed that suppliers willing to accept the "debt-for-equity" plan can only help Nezha resolve debts of just over 2 billion yuan, "and the remaining several hundred million yuan is really too much to chew."

2025.05.14

18:54

Nezha Auto denies filing for bankruptcy, sources: top management is still seeking self-help

On May 14, the topic of "Nezha Auto was filed for bankruptcy" became a hot search on Weibo. In response, Nezha Auto said, "We need to see clearly the applicant. It was an advertising company that filed the application to the court, not Nezha Auto. This is the power that the company should have. At present, we have not filed for bankruptcy. Don't believe in rumors, don't spread rumors." "This news itself is a misunderstanding." A source close to Nezha Auto told Yinshi Finance, "The company is indeed in a difficult situation at the moment, and the top management is still seeking self-help." According to him, there are projects under negotiation, but no one can say for sure before they are implemented.

2025.05.13

09:25

Nezha denies "will be acquired by Toyota": it's a rumor

On May 12, there was news that Toyota Motor was considering acquiring Nezha Auto, a domestic new energy vehicle manufacturer. Nezha Auto responded to reporters that the above news was a rumor.

2025.05.08

12:44

Nezha Auto is rich now? Will repay 49 million yuan to suppliers

On the evening of May 7, Efort, an industrial robot listed company, disclosed an announcement that after mediation and confirmation by the People's Court of Yuanzhou District, Yichun City, Jiangxi Province, the company reached an agreement with Hezhong New Energy Yichun Branch and Hezhong New Energy Automobile Co., Ltd. on the payment of the remaining contract amount. Recently, Efort received a "Civil Mediation Book" from the above court, showing that Yichun Hezhong and Hezhong New Energy still owed Efort 49.1509 million yuan for equipment. Yichun Hezhong and Hezhong New Energy agreed to pay Efort about 8.1918 million yuan before the 30th of each month from June to November this year (a total of 6 months), and Efort voluntarily gave up other litigation requests. The reporter called Efort as an investor, and the staff said that the execution level still depends on the situation of Hezhong New Energy, and the company will actively communicate and negotiate. The reporter noticed that Hezhong New Energy owed accounts to many A-share listed companies. For example, Fushi Holdings announced in December last year that its second-level wholly-owned subsidiary, Disi Public Relations, filed a lawsuit with the People's Court of Tongxiang City, Zhejiang Province, due to a dispute over a service contract with Hezhong New Energy, involving an amount of 53.5507 million yuan. When interviewed by a reporter as an investor, the securities department of Fushi Holdings stated that if there is any relevant progress, the company will disclose it in a timely manner. If you do not see the announcement, there is no substantive progress.

2025.05.06

07:35

Nezha Auto responds to the cause of the App failure: It has nothing to do with traffic arrears, and it is initially determined to be a system failure

On May 5, it was reported that the Internet outage problem of Nezha Auto during the May Day holiday was due to unpaid traffic. On May 5, Nezha Auto responded to reporters that the App failure had nothing to do with unpaid traffic. The technical department staff had been on duty during the May Day holiday and there was no unattended situation. At present, Nezha Auto has preliminarily determined that the phenomenon is a system failure, which has been repaired. At the same time, it is still continuing to investigate to prevent similar problems from happening again. On May 2, several Nezha Auto owners reported on social platforms that the Nezha Auto official website could not be accessed, the Nezha Auto App was disconnected from the Internet, and the vehicle remote control function could not be used. Reporters noticed that the Nezha Auto App and official website have now returned to normal.

2025.05.05

17:11

Nezha Auto APP and official website have returned to normal. Insider: The previous network outage was due to unpaid traffic and no one was watching over it during the holidays.

Since May 2, many Nezha car owners have reported that the car app is disconnected from the Internet, the vehicle remote control function cannot be used, and the official website cannot be accessed. On May 3, a car owner said that he received a notification that the backend of the app was under maintenance. Currently, the Nezha car app and official website have returned to normal. People familiar with the matter revealed that the Internet outage was mainly caused by arrears in data charges and no one was watching over the holiday.

2025.05.04

08:27

Many netizens reported that the Nezha Auto App was disconnected from the Internet

Since the 2nd, many netizens have reported that the Nezha Auto APP is disconnected from the Internet and the APP cannot be used to control the car. Some netizens said that the car keys and mechanical keys were in the car, and all the doors could not be opened. Finally, the trunk was opened with the APP. He reminded car owners not to log out of the APP account, otherwise they would not be able to log in. Try to open the trunk first. Another netizen said, "The Nezha server was useless around 3 pm yesterday, and now the vehicle cannot be remotely controlled. Car owners should not log out of their accounts. As long as they do not log out of their accounts, if the Bluetooth key can be connected, they can make do with it. If they log out of their accounts, they will completely be unable to use it. Do not frequently control remotely on the APP to prevent the APP from forcibly canceling the account. At present, the manufacturer has no news on this issue, and the after-sales service also said to wait two or three days."

2025.04.14

15:40

Zhang Yong, former CEO of Nezha Auto, responds to rumors: Still serving as consultant for Nezha Auto

Recently, there were rumors that Zhang Yong, the former CEO of Nezha Auto, had applied for a UK visa before leaving the company and is currently in the UK. In response, Zhang Yong responded on WeChat Moments, "Thank you for your concern. I have seen some rumors on the Internet. I am still a consultant for Nezha Auto and running around to raise funds for the company."

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