ZOTYE(SZ:000980) Cai Jing Wang·2025-09-02 03:15Core Viewpoint - The company, Zotye Automobile, is facing significant operational challenges due to the forced auction and dismantling of its T300 vehicle assembly line, leading to uncertainty in its ongoing business viability [1][3]. Group 1: Operational Challenges - Zotye's subsidiary in Chongqing has had its T300 vehicle assembly line and related equipment auctioned off, with both initial and subsequent auctions failing to attract buyers [1]. - The Chongqing court has mandated the dismantling of the assembly line and equipment, which is expected to be completed by September 15 [3]. - The company has indicated that it lacks the conditions to resume production of the T300 model this year, further complicating its operational status [1][3]. Group 2: Financial Performance - In 2024, Zotye reported total revenue of 558 million yuan, a year-on-year decline of 23.96%, and a net loss attributable to shareholders of 1 billion yuan, an increase in loss of 6.82% compared to the previous year [4]. - The company sold only 14 vehicles in 2024, a staggering year-on-year decrease of 98.74%, and produced no vehicles, down from 1,108 in 2023 [5]. - The company has accumulated a stock of 336 vehicles as of 2024, slightly down from 350 in 2023 [5]. Group 3: Management and Future Plans - The total compensation for the company's directors and senior management reached 9.55 million yuan in 2024, a 61.45% increase from the previous year [5]. - Despite the operational setbacks, the company has outlined a mid-to-long-term product development plan, with multiple new products set to enter the research and development phase [3].