SNAT(SH:600841) Zheng Quan Zhi Xing·2025-08-05 16:10Core Viewpoint - Shanghai New Power Automotive Technology Co., Ltd. announced that its wholly-owned subsidiary, SAIC Hongyan Automobile Co., Ltd., has entered a restructuring process as per the Chongqing Fifth Intermediate People's Court's decision to accept the restructuring application from creditor Chongqing Anji Logistics Co., Ltd. [1][2] Group 1: Court Decision and Management - The Chongqing Fifth Intermediate People's Court has accepted the restructuring application for SAIC Hongyan, appointing Taihe Tai (Chongqing) Law Firm and Xinyong Zhonghe Accounting Firm (Special General Partnership) as joint administrators [2][3] - The appointed administrator, Ma Yongbing, is responsible for managing the restructuring process, which includes taking over the debtor's assets and making decisions regarding the debtor's internal management and daily expenses [2][3] Group 2: Impact on the Company - SAIC Hongyan is a core subsidiary and heavy truck production platform for the company; successful restructuring could alleviate its debt issues [2][3] - The restructuring process is not expected to significantly impact the company's non-heavy truck business operations [2][3] Group 3: Future Actions and Responsibilities - During the restructuring period, SAIC Hongyan will cooperate with the court and administrators to ensure stable production and employee conditions while fulfilling its legal obligations [3][4] - The company aims to improve SAIC Hongyan's asset-liability structure through the execution of the restructuring plan, thereby protecting the interests of minority shareholders [4]