The founders of NIOZIL Automobile, Fang Yunzhou, and its former CEO, Zhang Yong, have recently faced new equity freezes, with the total value of the frozen equity amounting to a staggering 116 million yuan. The freeze, which will last for three years, has been ordered by the People's Court of Changning District, Shanghai. This represents the most significant single equity freeze imposed on the two individuals since debt risks first surfaced in 2025. Moreover, it marks the second large-scale judicial freeze on the equity of their affiliated enterprises within the past six months.

The equity that has been frozen belongs to the Tongxiang Hechuang Deli II Enterprise Management Consulting Partnership. This entity serves as one of the key holding platforms for NIOZIL Automobile's core founding team and indirectly holds stakes in Hozon New Energy. At present, the personal credit risks associated with Fang Yunzhou and Zhang Yong have fully materialized. Both individuals have been designated as dishonest persons subject to enforcement and have multiple enforcement records against them.

Impacted by the debt crisis, NIOZIL Automobile's three major production bases have experienced a comprehensive halt in operations. The supply chain system is teetering on the brink of collapse, and after-sales service has also ground to a halt.