ZOTYE(SZ:000980) Xin Lang Cai Jing·2025-12-29 14:00Core Viewpoint - The resignation of Li Lizhong, the chairman of Zotye Auto, after only two months in office, raises concerns about the company's leadership stability and ongoing operational challenges, as the company struggles to revive its production and sales [1][3][10]. Group 1: Leadership Changes - Li Lizhong resigned from his positions as chairman and director of Zotye Auto due to personal family reasons, having served only two months since his appointment on October 30 [1][3]. - The company has nominated Han Biwen as a candidate for the non-independent director position, with his term starting upon approval at the shareholders' meeting [3][12]. - Han Biwen has extensive experience in the automotive industry, having held various positions at Chery Automobile and is expected to bring valuable expertise to Zotye Auto [4][15]. Group 2: Company Performance - Zotye Auto has faced significant operational difficulties, with production and sales of complete vehicles nearly halted; the company sold only 14 vehicles last year [1][7]. - The company has reported continuous losses since 2019, with a total of six years of losses, and declared bankruptcy reorganization in September 2020 due to insolvency [7][16]. - The latest financial report indicates that for the first three quarters of this year, Zotye Auto generated revenue of 419 million yuan, an increase of 8.98% year-on-year, but still reported a net loss of 223 million yuan, which is a 33.13% increase in losses compared to the previous year [9][19]. Group 3: Market Position and Future Outlook - Zotye Auto's main revenue sources have shifted to components like automotive instrument parts and stamping welding parts, while complete vehicle production has stagnated [7][16]. - The company has not resumed vehicle production this year due to a lack of operational funds, indicating ongoing financial challenges [18].