With the second creditors' meeting of Hozon New Energy, Neta Auto's parent company, on the horizon, its bankruptcy reorganization process has captured the industry's keen interest. On November 13, a reporter from Cailian Press made a visit to Neta Auto's Tongxiang factory in Zhejiang. The factory area showed no signs of resuming production. Around a thousand vehicles in inventory were parked there, and some production equipment lay scattered about. Earlier reports had indicated that full salaries for July were paid in August and there were plans to resume production. However, as of now, the factory has not restarted operations. Only a handful of staff members from the托管 (In English, this term is often translated as "custodian" or "trustee" company, depending on the context. Here, I'll use "custodian") company and lawyers are stationed on-site, carrying out office-related tasks.

According to publicly available information, the Tongxiang factory has been shut down since October 2024. Moreover, the Yichun component factory and the Nanning production base, which was dedicated to export models, have also halted their operations.

The bankruptcy reorganization of Hozon New Energy is in full swing. The second creditors' meeting is set for November 25, with voting scheduled to take place from November 10 to November 28. During the first creditors' meeting, it was revealed that 1,631 creditors had declared claims totaling RMB 26.58 billion. Out of this amount, RMB 5.18 billion has been confirmed. Meanwhile, the remaining funds in the company's accounts stand at a mere RMB 15.4591 million.

At present, only one potential restructuring investor has submitted all the necessary materials and paid a deposit of RMB 50 million. This investor will bypass further selection procedures. Nevertheless, to be officially confirmed as the final investor, this entity must submit a written restructuring investment plan that adheres to legal requirements.