Nezha Automobile's Affiliate Faces Bankruptcy Filing from Advertising Company

2025-05-14 / Read about 0 minute

Author：小编

On May 13, the National Enterprise Bankruptcy Reorganization Case Information Network revealed that Hozon Auto, a subsidiary of Nezha Automobile, is under review for potential bankruptcy. The filing was initiated by Shanghai Yuxing Advertising Co., Ltd., and the case is being managed by the Intermediate People's Court of Jiaxing City, Zhejiang Province. Since October of last year, Nezha Automobile has been plagued by issues such as unpaid wages and layoffs, amid other disputes. The role of CEO has been temporarily assumed by the founder and chairman, Fang Yunzhou, who has replaced the former CEO, Zhang Yong. Currently, the company has accumulated over 90 enforcement records totaling more than 140 million yuan, along with several consumer restriction orders and equity freeze records.

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