On December 18, Hozon New Energy—the parent company of Neta Auto—announced the results of its search for an entrusted party to handle operation and management during the bankruptcy reorganization process. A total of two interested institutions submitted their application materials.

The evaluation committee assessed these applicants based on three key criteria: professional qualifications, the feasibility of their proposed operation and management plan, and the rationality of their financial arrangements. After thorough evaluation, one institution stood out and was selected as the entrusted party.

Moving forward, the administrator will sign an “Entrusted Agreement for Operation and Management” with the chosen institution to further the bankruptcy reorganization efforts. Previously, Hozon New Energy had also issued an announcement seeking investors for mutual-benefit debt, with plans to raise no more than 100 million yuan. This funding is intended to sustain the operation of core businesses and ensure continued services for car owners.