According to the National Enterprise Bankruptcy Information Disclosure Platform (NEBIDP), a new bankruptcy case was filed on June 19 against Neta Auto’s parent company Hozon New Energy Automobile Co., Ltd. The appointed administrator is Zicheng Law Firm (Zhejiang), and the court handling the case is Jiaxing Intermediate People’s Court in Zhejiang Province. Previously, applicant Shanghai Yuxing Advertising Co., Ltd. had already filed for bankruptcy review against the company.
On June 12, a statement claiming to be an official “Restructuring Announcement” from Neta Auto circulated online. It mentioned a court-supervised restructuring plan under Jiaxing Intermediate People’s Court and outlined resumption plans:
- Domestic production bases (e.g., Tongxiang) would gradually resume operations within months;
- Existing orders would be prioritized to ensure supply chain and dealer stability;
- Strategic investments would be introduced and management optimized (including CEO replacement);
- Post-sales services, OTA updates, and infotainment systems would remain operational.
On June 13, Neta Auto representatives clarified that the statement was not officially released but merely one internal proposal, not the final plan. They revealed that the company had drafted follow-up plans by late May/early June, originally slated for release before month-end. However, conflicts with former employees forced potential revisions.
The same day (June 12), videos surfaced online showing Neta Auto employees gathering outside the new office of CEO Fang Yunzhou, demanding unpaid wages. Footage depicted staff sitting at his office entrance protesting salary defaults.
Additionally, Neta Auto announced on June 12 that employees must work from home effective immediately. Office access cards were deactivated, and personal belongings could only be removed with prior administrative approval and property management coordination. Some employees stated they had avoided the office for two months due to unpaid wages.
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