哪吒汽车正式进入破产审查程序

Core Viewpoint - Nezha Auto is undergoing a restructuring process due to financial difficulties, with employees expressing a desire for bankruptcy as a potential solution. The restructuring aims to resolve debt issues, attract strategic investments, and optimize management for sustainable development [1][4]. Restructuring Plan Key Points - The restructuring is led by professional institutions to ensure fairness, prioritizing the rights of creditors, employees, and car owners while minimizing resource waste [5]. - Strategic investments will be sought from leading domestic and international capital, focusing on restoring production, technology development, and expanding into overseas markets. A new CEO with multinational automotive management experience will be appointed to enhance governance [6][13]. - Domestic operations will resume gradually, prioritizing existing order deliveries, while overseas markets, particularly Thailand, Indonesia, and Brazil, will continue to operate normally and receive increased investment [7][13]. - Customer rights will be safeguarded, ensuring after-sales support, OTA upgrades, and parts supply remain operational [8]. Future Strategic Planning - The company will focus on technology and product upgrades, restarting the development of the Haoshi technology platform, with plans to launch three global models by 2027 targeting the 100,000 to 200,000 yuan market segment [9]. - There will be an emphasis on global expansion and ecosystem collaboration, leveraging new investment resources to penetrate emerging overseas markets with a "technology + localization" dual-drive model [10]. Financial Performance and Challenges - Nezha Auto reported net losses of 4.84 billion yuan, 6.666 billion yuan, and 6.867 billion yuan from 2021 to 2023, totaling over 18 billion yuan in three years [13]. - The company has struggled with financing, relying heavily on external funding, which has become increasingly difficult due to a cooling capital market. The last financing round occurred in September of the previous year, specifically for exports to Brazil [14]. - Since October of the previous year, Nezha Auto has faced significant operational challenges, including layoffs, salary cuts, and payment delays to suppliers, leading to a series of self-rescue measures [15]. - A debt-to-equity swap agreement was reached with 134 core suppliers, totaling over 2 billion yuan, but not all suppliers supported this initiative, complicating external financing efforts [16].