On August 12 at 10 a.m., the Qingxiu District People’s Court in Nanning City held a second auction for a collection of mechanical equipment from Neta Automobile’s Nanning factory on the Ali Judicial Auction platform. The starting bid was set at approximately RMB 48.2463 million, more than RMB 12 million lower than the initial auction price—a reduction exceeding 20%. Despite 24 hours of bidding, by 10 a.m. on August 13, the equipment attracted 2,128 views and 117 reminders were set up, yet no bids were placed, resulting in another unsuccessful sale. The auctioned items included 467 sets (438 individual pieces) of equipment, such as automation lines for the stamping workshop and conveyor systems for the final assembly workshop.

The Nanning production base of Neta Automobile was originally a flagship project representing collaboration between local state-owned assets and emerging automotive companies. In 2019, plans were announced to invest RMB 3.5 billion in constructing the factory, with expectations of achieving an annual output value of around RMB 12 billion once fully operational. Industry experts note that China’s automotive manufacturing capacity is currently abundant, leading to diminished demand for production equipment. As a result, automakers are displaying limited enthusiasm for establishing new manufacturing facilities.