ZOTYE(SZ:000980) 21世纪经济报道·2025-05-21 11:57Core Viewpoint - The article discusses the regulatory actions taken against Zotye Automobile Co., Ltd. due to financial discrepancies and poor performance, highlighting the company's significant decline in sales and revenue, as well as ongoing debt issues [1][4][5]. Financial Performance - In 2024, Zotye Automobile reported total revenue of 558 million yuan, a year-on-year decrease of 23.96% [5]. - The net profit attributable to shareholders was -1 billion yuan, reflecting an increased loss of 6.82% compared to the previous year [5]. - The company sold only 14 vehicles in 2024, a staggering year-on-year decline of 98.74%, and produced no vehicles, down from 1,108 in 2023 [6]. Management and Governance - The Zhejiang Securities Regulatory Bureau issued a warning letter to Zotye Automobile and its chairman, Hu Zeyu, for violations of the Information Disclosure Management Measures, specifically regarding inaccurate financial reporting [4]. - Despite the poor financial performance, the total remuneration for 16 directors and senior management was 954.91 million yuan, a 61.45% increase from the previous year [6]. Debt Issues - As of January 15, 2025, Zotye Automobile disclosed overdue debts totaling 340 million yuan, with additional undisclosed overdue debts of 180 million yuan reported in April 2025 [8][9]. - The company acknowledged that the overdue debts could lead to penalties and may impact its daily operations [8].