Insider sources reveal that Shanshi Hi-Tech is making steady progress in the restructuring endeavor with Hozon New Energy, which is the parent company of Neta Auto. After October 1st, the original workforce of Hozon New Energy will finalize the handover process and subsequently be laid off, as the Shanshi Hi-Tech team is set to assume complete control. In June 2025, Hozon New Energy's bankruptcy reorganization application was approved. Then, in July, the pre-recruitment phase for investors kicked off, with Shanshi Hi-Tech stepping in as a strategic investor. Presently, the inaugural creditors' meeting has already taken place. As of August 31st, a staggering 1,631 creditors have come forward, declaring claims that surpass 26 billion yuan, with roughly 5.1 billion yuan of these claims having been verified. By the close of August, Hozon New Energy and its associated companies had amassed debts amounting to approximately 460 million yuan owed to over 5,000 employees. The debtor's accounts showed a monetary fund book balance of around 15.4591 million yuan, and there remained about 9.3 billion yuan in accounts receivable. As of May 1st, Hozon New Energy's asset portfolio encompassed fixed assets, machinery and equipment, as well as intellectual property rights. Since going public in 2011, Shanshi Hi-Tech has been proactively establishing dual industrial chains in the realms of new energy vehicles and semiconductors, with vehicle manufacturing serving as its core business.