The restructuring process for Hozon New Energy Automobile, the parent entity of Neta Auto, has achieved fresh milestones. On December 2, the administrator overseeing Hozon New Energy Automobile released a public notice to solicit an operation and management trustee.

The notice underscored the necessity for the trustee to leverage the debtor's production facilities and assets to conduct production and research and development activities essential for upholding the 'dual qualifications for car manufacturing'. Additionally, the trustee must agree to undergo supervision and inspections from relevant authorities to safeguard Neta Auto's technological standing and asset worth.

The recruitment notice delineated the specific job duties and qualification criteria for the trustee. This includes possessing a core management team of no less than 20 individuals, each boasting over 15 years of managerial experience at leading domestic automobile manufacturers. It also requires an on-site execution team comprising at least 50 production and operation staff with over five years of pertinent experience.

Regarding financial matters, the trustee is expected to secure funding independently. Should fundraising efforts fall short, Hozon New Energy Automobile will step in with financial assistance. As a general rule, the trustee may be eligible to receive a monthly fee capped at 100,000 yuan.

Neta Auto has been non-operational for one year and one month. To preserve its 'dual qualifications for car manufacturing', it must manufacture at least 2,000 vehicles by 2026. Presently, the progress in attracting restructuring investors for Neta Auto is sluggish, and the pressing issue of its substantial debt remains to be addressed promptly.