On June 11th, a former employee of Nezha Motors exposed two videos of the company's founder Fang Yunzhou being surrounded and demanding unpaid wages at the company's Shanghai headquarters. In the video, the employee claimed that Fang Yunzhou was surrounded by unpaid employees and that Fang Yunzhou had a bad attitude towards the employees, even having the idea of kicking and squatting employees at the office entrance. From the above two videos, it can only be seen that Fang Yunzhou appeared somewhat agitated after being surrounded by employees.
Not long ago, there were reports that Nezha's plan to reduce debt through debt to equity swaps in order to obtain new financing has failed. According to insiders close to Nezha Motors, some investors still want to keep Nezha, but the condition is to dismiss Fang Yunzhou, the founder, chairman, and CEO of Nezha Motors.
However, there were later reports that Nezha denied the failure of the debt to equity swap plan and the news of Fang Yunzhou's dismissal. According to relevant sources, the debt to equity conversion plan does not have KPIs. This is a self rescue plan for enterprises and does not involve anything else. ”Regarding the dismissal of Fang Yunzhou, the person responded by saying, "It doesn't exist. State owned shareholders are working with us to save the company." In terms of financing, "it has actually never stopped, but there has been no further progress.
