Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-09-06 06:57Core Viewpoint - Zhongzhixing Technology Co., Ltd. has been accepted for bankruptcy liquidation by the court due to its inability to pay a labor arbitration amount of 15,000 yuan, reflecting the company's financial distress and the broader downturn in autonomous driving investments [1][3][5]. Company Summary - Zhongzhixing was founded by Wang Jin, a former senior vice president at Baidu and the first general manager of Baidu's autonomous driving division, focusing on L4-level autonomous driving technology [1][9]. - The company has a registered capital of 150 million yuan and was established in June 2018 [6][9]. - The company has faced multiple execution cases with a total historical execution amount of 47.328 million yuan, indicating severe financial difficulties [5][7]. Financial Distress - The court's decision to accept the bankruptcy application was based on Zhongzhixing's inability to pay debts and its status as insolvent [3][5]. - The company has been unable to contact, with its official website down and phone numbers disconnected, indicating a complete operational shutdown [5][6]. Industry Context - The autonomous driving sector is experiencing a significant investment downturn, leading to a wave of bankruptcies among companies in the field, including Zhongzhixing [11][12]. - Analysts suggest that the industry is undergoing a reshuffle, with companies needing to provide clear profitability timelines to attract continued investment [11][12]. - Zhongzhixing's chosen technology route, which emphasizes vehicle-road collaboration, has been criticized for its high infrastructure costs and slow commercial viability compared to the more prevalent single-vehicle intelligence approach [12][14].