山寨车鼻祖，上半年只卖了14辆车

Core Viewpoint - The announcement from Zotye Auto regarding the forced dismantling of its T300 production line has raised significant concerns about the company's operational viability and future prospects in the capital market [2][4]. Group 1: Company Operations - Zotye Auto's subsidiary, Jiangnan Automobile's Chongqing branch, is facing forced dismantling of its T300 production line, indicating severe operational challenges [2]. - The company has confirmed that it has not produced any vehicles this year and is currently unable to resume production at its two bases in Changsha and Yongkang [4][5]. - As of now, Zotye Auto has no operational 4S stores in China, further highlighting its operational difficulties [5]. Group 2: Financial Health - The equity attributable to shareholders of Zotye Auto was approximately 87.25 million yuan as of the first half of the year, and failure to resume production could lead to negative net assets by year-end, posing a delisting risk [6]. - The company has confirmed the delivery and sales of only 14 vehicles from a prior order in Algeria for 2025, indicating limited revenue generation [5]. Group 3: Management Changes - Zotye Auto has recently laid off two vice presidents, with the new acting president, Xie Lihong, taking on multiple roles, including that of board secretary and financial director [6]. - The total annual compensation for key executives, including the chairman and vice presidents, exceeds 5 million yuan, raising questions about management efficiency amid operational struggles [6]. Group 4: Market Performance - As of the latest closing, Zotye Auto's stock price was 2.81 yuan per share, with a decline of 0.71%, resulting in a total market capitalization of 14.17 billion yuan [7].