On January 15, news emerged that Yao Zhenhua, Chairman of Baoneng Group and the actual controller of Qoros Auto, voiced his opposition to the undervaluation and subsequent auction of key assets at Qoros Auto's Changshu manufacturing facility. Despite his objections, the auction proceeded as planned the next day. By the time of reporting, one bidder had already registered, 772 individuals were closely monitoring the auction's progress, and a staggering 20,129 people were watching the event unfold.
On January 14, Yao Zhenhua took to the 'China Baoneng' WeChat official account to post a video in which he made a real-name complaint. In the video, he alleged that during the enforcement proceedings related to a 270 million yuan case at Qoros, the liquidation team had unlawfully sealed the factory premises and equipment, engaged in excessive seizure, and proceeded to forcibly auction off vital assets, including land, factory buildings, general machinery, and specialized automotive equipment.
