On September 1st, Zotye Automobile announced that its subsidiary, Hunan Jiangnan Automobile Manufacturing Co., Ltd. Chongqing Branch, had its T300 model final assembly production line and related equipment forcibly dismantled by the Bishan District People's Court in Chongqing. Therefore, the company no longer has the conditions to resume work and production of the first model T300 this year, and cannot achieve resumption of work and production.
Since 2019, Zotye Automobile has been continuously losing money, with a cumulative net profit loss of 25.5 billion yuan over 6 and a half years. As of the end of the first quarter of 2025, Zotye Auto's debt ratio was as high as 96.10%.
On July 14th, Zotye Auto disclosed its performance forecast for the first half of the year, expecting to achieve a net profit attributable to shareholders of the listed company of -135 million to -200 million yuan, a year-on-year decrease of 22.66% to 47.80% in losses. Due to a lack of operating funds, the vehicle business has not resumed work and production, and its performance is still in a loss making state.
