On June 19, the National Enterprise Bankruptcy and Reorganization Case Information Network announced that the parent company of Nezha Auto, Hozon New Energy Automobile Co., Ltd., had been added to the (2025) Zhe 04 bankruptcy case No. 3. According to the announcement, the applicant is Shanghai Yuxing Advertising Co., Ltd., and the respondent is Hozon New Energy Automobile Co., Ltd. The court handling the case is the Jiaxing Intermediate People’s Court in Zhejiang Province. The management institution is Zhejiang Zicheng Law Firm, with Yao Wuqiang as the primary responsible person. Previously, Shanghai Yuxing Advertising Co., Ltd. had already filed for bankruptcy review against the company.
On May 13, Hozon New Energy Automobile Co., Ltd. was added to the (2025) Zhe 04 bankruptcy application No. 3, with Shanghai Yuxing Advertising Co., Ltd. applying for the bankruptcy reorganization of Hozon New Energy Automobile Co., Ltd. The court handling the case was the Jiaxing Intermediate People’s Court in Zhejiang Province. At that time, Nezha Auto responded, stating, “An advertising company applied to the court, which is within its rights. Currently, we have not filed for bankruptcy-related matters. Do not believe or spread rumors.” Sources close to Nezha Auto indicated, “The company is indeed facing difficulties, and the senior management is still seeking self-rescue.”
The addition of the (2025) Zhe 04 bankruptcy case No. 3 indicates that the court has appointed a bankruptcy reorganization manager. According to Tianyancha, Hozon New Energy Automobile Co., Ltd., previously known as Hozon New Energy Automobile Co., Ltd., was established in October 2014, located in Jiaxing City, Zhejiang Province. Its legal representative is Fang Yunzhou, with a registered capital of 2.837 billion yuan and a paid-in capital of 2.763 billion yuan. It is a company primarily engaged in science and technology promotion and application services. Shareholder information shows that the company is jointly held by 50 companies, including Nanning Minsheng New Energy Industry Investment Partnership (Limited Partnership), Beijing Huading New Power Equity Investment Fund (Limited Partnership), and Yichun Jinhe Equity Investment Co., Ltd.
Currently, Hozon New Energy Automobile Co., Ltd. is embroiled in judicial disputes. As of the time of writing, the company has 107 execution records, with a total executed amount of 158.2137 million yuan, including four new records this month. Additionally, there are 100 shareholding freeze records, 38 consumption restriction orders, and a total of 57.1709 million yuan involved. Furthermore, on April 25, the Jiaxing City Taxation Bureau of the State Administration of Taxation issued three tax arrears announcements for the company, with a total tax arrears of 2.1520598 million yuan, covering land use tax, stamp duty, and property tax, with the tax authority being the Tongxiang City Tax Bureau.
In the bankruptcy reorganization controversy surrounding Hozon New Energy Automobile Co., Ltd., Nezha Auto has also attracted industry attention. Nezha Auto, the intelligent electric vehicle brand under Hozon New Energy Automobile Co., Ltd., was launched in June 2018 and was once seen as the “dark horse” of China’s new energy vehicle industry. It was also one of the first companies to obtain the “dual qualifications” for new energy passenger vehicles. Data shows that in 2022, Nezha Auto sold 152,100 units, becoming a black horse among new car manufacturers. However, it has since experienced a decline, with sales in 2024 dropping to just 64,500 units, a 49.37% year-on-year decrease, far from its peak sales. The company is now facing a cash flow crunch and a heavy debt burden. The future of Nezha Auto remains uncertain, and industry insiders believe that, although the court has appointed a bankruptcy reorganization manager, Nezha Auto’s future is still filled with unknowns.
