Core Viewpoint - Zotye Auto, once a popular car brand in China, is now facing severe survival challenges, including a significant loss of control by its major shareholder and continuous financial losses over the years [1][2][3]. Financial Performance - Zotye Auto has reported cumulative losses of 250.93 billion yuan over six years, with annual losses of 10 billion, 9.37 billion, 9.20 billion, 7.06 billion, 103.4 billion, and 111.9 billion yuan from 2019 to 2024 [1][5]. - In the first half of 2025, the company recorded a net loss of 1.48 billion yuan [9]. Shareholder Changes - The company's major shareholder, Jiangsu Deep Commerce Holding Group, lost all its shares due to a judicial auction, resulting in Zotye Auto entering a "no controlling shareholder" status [1][3][4]. - The shares, originally held by Jiangsu Deep Commerce, were auctioned off but went unsold, leading to their transfer to a creditor, which indicates a lack of market confidence in Zotye's future [3][4]. Operational Challenges - Despite having production capabilities of 300,000 vehicles per year and some remaining overseas business, Zotye Auto is struggling with financing difficulties and the risk of bankruptcy [2][11]. - The company has not produced any vehicles in 2024, with only 14 units sold, indicating a critical operational decline [8]. Historical Context - Founded in 2003, Zotye Auto initially gained popularity by offering low-cost vehicles that imitated luxury car designs, achieving peak sales of 333,100 units in 2016 [6][7]. - However, quality issues and a decline in sales led to significant financial troubles, with sales dropping to 116,400 units in 2019 and subsequent bankruptcy proceedings for several subsidiaries [7][8]. Future Prospects - Zotye Auto is exploring asset revitalization and restructuring options to secure funding for resuming operations, but the current credit system remains unstable [10]. - The company is also pursuing international orders, including a recent shipment of 14 vehicles to Algeria and plans for further market development in countries like Iran and Ethiopia [12][13].