On June 17th, according to a previous announcement by Zotye Auto, due to a lack of operating funds, the company's vehicle business was unable to resume work and production, and only completed the shipment and sales confirmation of 14 Algerian orders, resulting in a loss of 103 million yuan in the first quarter of 2025 and facing the risk of delisting.
The announcement shows that Zotye Automobile is expanding its international market and plans to promote cooperation in countries such as Algeria and Egypt to prepare for the export of T300 fuel version models. However, the biggest problem currently faced is that the second shareholder, Zhejiang Commercial Bank, has frozen its restructuring special account, which has restricted the flow of funds and has not yet reached a consensus with the bank. The announcement warns that if the company cannot resume work and production by 2025, it will seriously affect its financial condition and ability to continue operating. The company will face financial risks, operational crises, and delisting risks caused by negative net assets at the end of this year.
In the first quarter of 2025, Zotye Automobile achieved a revenue of 98.75 million yuan and a net profit attributable to the parent company of -103 million yuan. It is reported that Zotye Motors' automotive business has been losing money for six consecutive years. Last year, Zotye's car sales were only 14 units, a year-on-year drop of 98.74%; The production volume is 0, and the inventory is only 336 vehicles.
