[Auto Breaking News] On October 9, Zotye Auto released the "Announcement of the Company’s Managers on the Progress of the Company’s Reorganization", which announced the progress of the company’s reorganization, saying that on September 28, 2021, Under the supervision and witness of Jinhua Intermediate People's Court and Yongkang Court, the reorganization investor review committee conducted an on-site review of the intended reorganization investors. On September 30, 2021, according to the results of the review and voting, it was finally determined that Jiangsu Shenzhen Business Holding Group Co., Ltd. (hereinafter referred to as "Jiangsu Shenzhen") as the company's restructuring investor, Shanghai Titan Automotive Technology Partnership (Limited) Partnership), Hunan Zhibo Zhiche Equity Investment Partnership (Limited Partnership) as the company’s subsequent candidate restructuring investors.
On the same day, the company and its managers signed the "Zhongtai Automobile Co., Ltd. 2 billion yuan restructuring investment agreement". Jiangsu Shenzhen Commercial Bank sent 550 million yuan to the designated account on the same day as the performance deposit (the 50 million yuan registration deposit paid in the previous period was automatically transferred in). The remaining 1.45 billion yuan of restructuring investment funds should be paid by October 25, 2021 according to the agreement. The full amount of 2 billion yuan will be used as a prerequisite for Zotye Motors and its managers to submit a draft reorganization plan with Jiangsu Shenshang as the reorganization investor to the court and creditors meeting.
After the reorganization investor is determined, the company and the manager will combine the progress of the reorganization work to speed up the negotiation and communication with the reorganization investors, creditors and other stakeholders, and quickly advance the reorganization. Work. The reorganization investor recruited this time needs to be determined as the official reorganization investor of Zotye Automobile only after the reorganization plan (draft) of Zotye Auto is approved by the court. The company and the manager will, based on the specific content of the "Reorganization Investment Agreement" signed this time, combined with the actual situation of Zotye Automobile and the communication with creditors and investors,Prepare and submit a reorganization plan (draft) to the court and creditors meeting. The specific implementation related content of the "Reorganization Investment Agreement" is ultimately subject to the reorganization plan approved by the court ruling.
According to public information, Jiangsu Shenshang Holdings is an agent of automobile leasing on September 29, 2020; Motor vehicle inspection and testing services; auto parts and accessories manufacturing; motor vehicle repair and maintenance; auto parts wholesale; new auto sales; auto parts retail; electric vehicle charging infrastructure operations, etc. The purpose of participating in the reorganization is to obtain Qualification for the production of complete vehicles, production and sales of complete vehicles.
more auto industry broke the news, so stay tuned ~
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