ZOTYE(SZ:000980) Di Yi Cai Jing Zi Xun·2025-09-15 08:41Core Insights - The controlling shareholder of Zotye Auto, Jiangsu Shenshang, and its concerted parties have had 700 million shares judicially frozen, with a second auction for 130 million shares failing to attract buyers [2][3] - Zotye Auto's subsidiary, Hunan Jiangnan Automobile, faced a failed auction of its T300 model production line and related equipment, which is now subject to forced demolition by the Chongqing Banan District People's Court [2][3] Financial Performance - Zotye Auto, once known for its low-cost imitation of luxury vehicles, saw its annual sales peak at over 330,000 units in 2016, surpassing newer competitors like NIO and XPeng [3] - The company has experienced a dramatic decline in sales since 2020, leading to a debt crisis and eventual production halt, with cumulative losses exceeding 25 billion yuan since 2019 [3] - As of the first half of this year, Zotye Auto's debt-to-asset ratio reached 97.28%, with only 8.725 million yuan remaining in equity attributable to shareholders [3]