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On March 13, new details emerged regarding equity freezing measures imposed on Hozon New Energy Auto Co., Ltd., an affiliate of Nezha Auto. The freezing involves shares in Guangxi Ningda Automobile Technology Co., Ltd. and Nanning Yonghe Investment Co., Ltd., amounting to a total value of approximately RMB 1.1 billion. The freeze has been ordered for a duration of three years by the People's Court of Tongxiang City in Zhejiang Province and the People's Court of Linyi County in Shandong Province.
Hozon New Energy Auto Co., Ltd., established in 2014 with a registered capital of approximately RMB 2.837 billion, currently faces multiple enforcement actions, including consumption restrictions and equity freezes, against individuals associated with the company.
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