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On March 19, Nezha Auto convened a supplier conference aimed at discussing a debt-for-equity swap plan designed to address the debt issues of certain suppliers. This innovative strategy garnered the support of the majority of suppliers present. During the conference, Nezha Auto shared updates on its E-round financing, which totaled 3 billion yuan. Originally slated for completion by the end of March, the financing process has been postponed to April due to the company's current debt risks. In response to inquiries about the financing progress, Nezha Auto stated that there is currently no additional information to disclose. Furthermore, the company refuted reports suggesting that it would transition into a service provider following the completion of the financing round.
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