Shang Hai Zheng Quan Bao·2025-09-25 20:01Core Viewpoint - The first creditors' meeting for the bankruptcy reorganization of SAIC Hongyan was held on September 24, 2025, with significant participation from creditors [2][6]. Group 1: Company Announcement - Shanghai New Power Automotive Technology Co., Ltd. announced the first creditors' meeting for its wholly-owned subsidiary, SAIC Hongyan Automobile Co., Ltd., which is undergoing bankruptcy reorganization [2]. - The Chongqing Fifth Intermediate People's Court accepted the reorganization application from creditor Chongqing Anji Hongyan Logistics Co., Ltd. on July 21, 2025 [2]. - The meeting had 1,864 creditors expected to attend, representing a total unsecured debt of approximately 3.97 billion yuan, with 1,383 creditors actually present, holding 99.2% of the total unsecured debt [2]. Group 2: Meeting Agenda - The meeting included several key reports and proposals from the administrator, including the asset management plan for SAIC Hongyan, the method of convening the creditors' meeting, and the establishment of a creditors' committee [3][4][5]. - The deadline for voting on the proposed plans is set for October 20, 2025 [6].