Shang Hai Zheng Quan Bao·2025-12-11 19:38Core Viewpoint - Shanghai New Power Automotive Technology Co., Ltd. is undergoing a restructuring process for its wholly-owned subsidiary, SAIC Hongyan Automobile Co., Ltd., following a court's acceptance of a creditor's application for reorganization [2][5]. Group 1: Restructuring Process - On July 21, 2025, the company announced that the Chongqing Fifth Intermediate People's Court accepted the reorganization application for its subsidiary, SAIC Hongyan [2]. - The court appointed Taihe Tai (Chongqing) Law Firm and Xinyong Zhonghe Accounting Firm (Special General Partnership) as the managers for the reorganization of SAIC Hongyan [2]. - The second creditors' meeting for the reorganization was held on November 14, 2025, via an online platform, where the management presented reports and the creditors voted on the reorganization plan [3][4]. Group 2: Voting Results - The second creditors' meeting successfully completed all scheduled agendas and voted to approve the draft reorganization plan [4]. - Following the approval, the management will submit an application to the Chongqing Fifth Intermediate People's Court for the court's ruling to approve the reorganization plan [5].