ZOTYE(SZ:000980) Mei Ri Jing Ji Xin Wen·2025-09-26 16:46Core Viewpoint - The news highlights the significant decline of Zotye Automobile, detailing the sale and transformation of its Hangzhou factory, which has been taken over by Yongkang Investment and is undergoing renovations, while the company faces severe financial difficulties and operational shutdowns [1][4][20]. Group 1: Factory Status - Zotye Automobile's Hangzhou factory has been sold and is no longer under its ownership, with a sign indicating it is a state-owned asset awaiting disposal [1][4]. - The total assembly workshop has been renovated and is now open to external enterprises, with four out of six planned companies already moving in [3][4]. - The factory's total assembly workshop covers approximately 14,800 square meters, while the office building spans about 12,500 square meters [9]. Group 2: Financial Difficulties - Since 2019, Zotye Automobile has faced continuous financial losses, accumulating over 25 billion yuan in losses, with a reported net loss of approximately 1.48 billion yuan in the first half of 2025 [20][22]. - The company has been unable to resume production, with its T300 production line dismantled due to judicial auction failures [17][20]. - As of 2024, Zotye's sales plummeted to just 14 vehicles, a 98.74% decrease from 2023, and production was reported at zero [21]. Group 3: Asset Management and Legal Issues - The company's shares, totaling approximately 335 million, have been frozen, complicating its financial recovery efforts [20]. - Zotye's assets are under judicial scrutiny, with ongoing legal challenges, including a significant intellectual property case resulting in a 29.5 million yuan penalty [17][20].