The management team at Hozon New Energy (the parent company of Neta Auto) has released an announcement, openly inviting an entrusted party to take over operation and management responsibilities, with the aim of accelerating the restructuring process. The primary goals of this entrusted operation and management include the preservation and enhancement of the debtor's assets, as well as the execution of essential production and research and development (R&D) activities.

The eligibility criteria for the entrusted party are quite rigorous: The core management team must comprise at least 20 individuals, each with over 15 years of management experience at leading domestic automobile manufacturers. Meanwhile, the on-site execution team must include no fewer than 50 members, all possessing over 5 years of relevant experience. In cases where multiple parties meet the criteria equally, those capable of providing or introducing shared-benefit debt financing will be given preference.

Neta Auto has encountered operational challenges since the latter half of 2024. On June 12, 2025, the Jiaxing Intermediate People's Court approved the acceptance of its bankruptcy restructuring application. By September 27 of the same year, a prospective restructuring investor had already registered and paid a deposit. As of June 12, 2025, Hozon New Energy holds production and operational assets, including fixed assets. It operates three production bases and possesses proprietary software products, along with the registered trademark 'Neta Auto'.