NEW POWER(SZ:300152) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-02 23:44Core Viewpoint - The Chongqing Fifth Intermediate People's Court has accepted the bankruptcy reorganization case of SAIC Hongyan Automobile Co., Ltd., a wholly-owned subsidiary of the company, and has appointed management firms to oversee the process [2][3]. Group 1: Company Overview - SAIC Hongyan was established on January 28, 2003, with a registered capital of 4.6 billion yuan, primarily engaged in the production of road motor vehicles and related businesses [3]. - 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 [4]. Group 2: Reorganization Process - The management team is publicly recruiting reorganization investors to maximize the operational value of SAIC Hongyan, following the principles of marketization and legality [5]. - The recruitment announcement for reorganization investors was published on September 1, 2025, with a recruitment period from September 1 to September 20, 2025 [12]. Group 3: Recruitment Conditions - Interested investors must be legally established enterprises in China for at least one year and must possess commercial vehicle production qualifications or form a consortium with qualified entities [6][7]. - Investors must have a minimum audited total asset of 3 billion yuan in the most recent fiscal year [9]. Group 4: Financial Requirements - A registration deposit of 50 million yuan is required from each interested investor, with a performance deposit of 200 million yuan due upon signing the reorganization investment agreement [24][26]. - The management will refund the registration deposit to non-selected investors within five working days after the selection process concludes [32]. Group 5: Due Diligence and Proposal Submission - Investors can conduct due diligence on SAIC Hongyan after passing the registration conditions and must submit their reorganization investment proposals by October 18, 2025 [26][28]. - The management will select the reorganization investor based on the submitted proposals through a fair and transparent process [27].