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On September 15, Shanzi Hi-Tech released an official announcement in response to media reports alleging that “Taiyi Shenglian plans to invest RMB 3 billion to acquire control of Neta Auto.” Shanzi Hi-Tech clarified that it holds no equity control relationship with Zhejiang Taiyi Shenglian Enterprise Management Partnership (Limited Partnership) and has not, either directly or indirectly, participated in the bankruptcy restructuring investment of Neta Auto. While the company’s controlling shareholder intends to engage in the bankruptcy restructuring investment of Neta Auto through its controlled entities, this plan is currently only at the preliminary stage. It remains uncertain whether the necessary procedures will be successfully completed and approved.
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