SNAT(SH:600841) Zheng Quan Zhi Xing·2025-09-02 09:12Core Viewpoint - The company is undergoing a bankruptcy reorganization process for its wholly-owned subsidiary, SAIC Hongyan Automobile Co., Ltd., and is publicly recruiting investors to maximize operational value during this process [1][2]. Group 1: Company Overview - SAIC Hongyan was established on January 28, 2003, with a registered capital of 460 million yuan, and its main business includes the production of road motor vehicles and related components [2]. - As of June 30, 2025, SAIC Hongyan reported total assets of 2.324 billion yuan, total liabilities of 5.605 billion yuan, and a net asset deficit of 3.281 billion yuan [2]. Group 2: Recruitment Principles and Objectives - The recruitment of restructuring investors will follow principles of marketization and legality, aiming to attract investors with strong financial capabilities and industry synergy [2]. - The goal is to create a restructuring plan based on the proposals submitted by investors, optimize the debtor's asset and liability structure, and achieve a win-win situation for investors, the restructured company, and creditors [2]. Group 3: Recruitment Conditions - Interested investors must be legally established enterprises in China for at least one year and possess commercial vehicle production qualifications [3][4]. - Investors must have a consolidated audited asset total of no less than 3 billion yuan in the most recent fiscal year [4]. Group 4: Recruitment Process - The recruitment announcement was published on September 1, 2025, with a deadline for applications set for September 20, 2025 [4][8]. - Interested investors must submit their application materials by the specified deadline, including a commitment letter and relevant qualifications [5][6]. Group 5: Financial Guarantees - A registration deposit of 50 million yuan is required from each interested investor, which will be converted into a performance deposit upon selection [7][9]. - The selected restructuring investor must pay a performance deposit of 200 million yuan within three working days after signing the restructuring agreement [7][10]. Group 6: Due Diligence and Proposal Submission - Investors can conduct due diligence on SAIC Hongyan after passing the application review and paying the deposit [8]. - The deadline for submitting the restructuring investment proposal is October 18, 2025 [8]. Group 7: Selection and Notification - The management will select the restructuring investor through a fair and transparent process after the proposal submission deadline [9]. - Results will be reported to the relevant parties and published publicly [9]. Group 8: Agreement Signing and Guarantees - After selection, the restructuring investor will negotiate and sign the restructuring investment agreement based on their submitted proposal [9]. - The management reserves the right to retain or refund the deposits based on compliance with the agreement terms [10][11].