On September 17, there were rumors in the market claiming that Shanxi Gaoke is advancing its restructuring of Hozon New Energy Automotive Co., Ltd. (hereinafter referred to as “Hozon New Energy”). According to the reports, Hozon New Energy’s staff would complete the handover and exit by October 1, and the Shanxi Gaoke team would officially take over. In response to this, media outlets reached out to Hozon New Energy’s management for confirmation, and they stated, “This is false information.” Shanxi Gaoke also clarified that while the company has expressed interest in the restructuring and is one of the potential investors, whether they will ultimately become the company handling the restructuring of Nezha Auto will depend on the official announcement.
Additionally, according to a report by Jiupai News today, multiple informed sources claimed that Shanxi Gaoke had paid a deposit of 10 million yuan to Hozon New Energy’s management. In response to this, Shanxi Gaoke’s investor hotline staff said the matter is confidential and would not provide any comments on the issue at the listed company level. The report also stated that, as of September 12, Shanxi Gaoke is the only entity that has paid part of the deposit, and no other potential investors have made such payments. Hozon New Energy’s management has not yet responded to this information.
Publicly available information shows that Shanxi Gaoke, founded in August 1998, is headquartered in the Lujiazui Jinzhong Building in Shanghai. The company focuses on the dual industrial chains of new energy vehicles and semiconductors, covering areas such as smart connected vehicle manufacturing, semiconductor packaging materials, and high-end automotive components. Its subsidiaries include Bangqi Powertrain, Airxi Automotive, Zhidao New Energy, Hongxing Automotive, Yunfeng Automotive, and others.
Hozon New Energy Co., Ltd. is the parent company of Nezha Auto, formerly known as Hozon New Energy Co., Ltd., established in October 2014 in Jiaxing, Zhejiang. The legal representative is Fang Yunzhou, with a registered capital of 2.837 billion yuan and a paid-in capital of 2.763 billion yuan. The company is primarily engaged in technology promotion and application services. Shareholder information shows that the company is jointly held by multiple entities, 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., with a total of 50 companies.
On May 13 of this year, Hozon New Energy was filed for bankruptcy restructuring by Shanghai Yuxing Advertising Co., Ltd. Since then, the company has been undergoing bankruptcy restructuring. To facilitate this process, Hozon New Energy’s management released a pre-recruitment announcement for potential investors, stating that before formally registering, interested restructuring investors must conduct due diligence on Hozon New Energy, sign a confidentiality agreement, and pay a due diligence deposit of 10 million yuan.
Currently, Nezha Auto is at a critical stage of bankruptcy restructuring, facing the challenge of tight cash flow and mounting debt. On September 12, the first creditors’ meeting of Hozon New Energy’s bankruptcy restructuring case was held online. According to reports, the management disclosed that, as of August 31, 1,631 creditors (excluding employee creditors) had filed claims totaling 26.58 billion yuan. Of this, the confirmed total amount of claims was 5.18 billion yuan. Additionally, the management reported that the debtor’s account had a cash balance of approximately 15.46 million yuan, with acceptance deposits around 420,000 yuan and bank deposits of about 15 million yuan.
Industry experts believe that Nezha Auto’s future may depend on the effectiveness of its capital injection and strategic adjustments. Analyzing the current development of the automotive market, the new energy vehicle market has grown rapidly, which means car manufacturers now face increasingly fierce competition. In this environment, the time for Nezha Auto’s bankruptcy restructuring is very limited. Moreover, even if Nezha Auto successfully completes its bankruptcy restructuring, it will face significant challenges in brand rebuilding and restoring market trust.
