Full salary will be paid in July! The number of potential investors has reached 56. Is Nezha Auto saved?
Nezha Auto is really making a comeback.
Multiple Nezha Auto employees revealed that the company paid full salaries in July. It's really not easy.
Compared with the previous situation where employees only received the minimum basic salary of over 2,000 yuan or had their salaries halved, paying full salaries sends a signal - Nezha has money!
There are also reports that Nezha Auto has initiated the work of sorting out its previous distribution outlets and preparing for the resumption of production at its factories.
Moreover, Nezha Auto's parent company, Hozon New Energy, recently entered the official recruitment stage for potential investors for asset restructuring. Unexpectedly, the response was unexpectedly "hot". Currently, 56 potential investors have signed up.
01
Preparations for Resuming Production
At the Nezha Auto factory in Tongxiang, the signs are more obvious. Some netizens said on social platforms that they noticed more trucks at the factory gate and more employees coming in and out than before.
According to internal employees at the factory, they have been working overtime every day to clean up recently. The equipment on the production line is being tested one by one, and even the parts piled up in the warehouse are being re - inventoried. "They said they are preparing for resuming production, but we don't know exactly when the production line will start. The leaders just told us to be on standby at all times."
According to a report by the media "Daily Economic News", there are currently about 140 people at the Tongxiang factory, and normal work is still underway. Mainly, the work at the Tongxiang factory is in operation, while employees at the Shanghai office are still working from home.
Tasks such as cleaning, organizing production materials, and checking the operating status of equipment may seem basic, but they are indispensable prerequisites for resuming production.
As the core production base of Nezha Auto, the Tongxiang factory bears the heavy responsibility of mass - producing Nezha models. The debugging results of the production line will directly affect the progress of resuming work. Amid this busy background, there is an even more crucial signal - full salaries were paid in July.
As the saying goes, if you only ask a cow to plow the field but don't let it eat grass, even the most capable cow can't plow much land. Moreover, salary changes are the most intuitive barometer of a company's operating conditions.
Not only is there a recovery on the production side, but according to Nezha Auto dealers, the restoration of the sales channels is also progressing simultaneously. Nezha Auto has initiated the work of sorting out its sales outlets across the country to confirm which dealer outlets are still willing to continue cooperation. For the confirmed partners, Nezha Auto promises to provide material and financial support.
Some dealers revealed that they have received calls from Nezha Auto, asking if they want to continue cooperation, and also mentioned a specific plan for "financial support". "Although they didn't mention the specific amount, at least we can see their sincerity."
When the recovery on the production side and the restoration of the sales channels progress simultaneously, these signals together are like Nezha Auto sending a "notice" to the market: I'm coming back.
Actually, in June, a "restructuring statement" of Nezha Auto circulated on social platforms, clearly stating three major measures, including resuming work and a leadership change. First, domestic production bases such as the one in Tongxiang will gradually resume production within a few months, giving priority to ensuring after - sales support for existing models, and simultaneously stabilizing the dealer system through a special financial plan.
In addition, the management team will be reorganized. Fang Yunzhou, the former CEO, may step down, and the new CEO will be a person with experience in managing multinational automobile companies. However, the specific candidate has not been disclosed.
Overseas, the factories in Thailand, Indonesia, and Brazil should ensure continuous operation, increase investment in emerging markets, and optimize the parts supply model.
A further plan was also launched. It is expected that three new global models will be launched before 2027, targeting the mass market of 100,000 - 200,000 yuan, and the R & D of the intelligent driving technology platform will be restarted.
However, at that time, Nezha Auto was still deeply involved in the public opinion of bankruptcy and restructuring. Nezha Auto's official also said later that it was not the official final document, and the final plan is still subject to adjustment. Moreover, since Nezha Auto did not take any substantial actions to resume work and production at that time, this statement did not bring any hope for self - rescue for Nezha Auto. Instead, it cast a veil of uncertainty over Nezha Auto's future.
With the payment of full salaries, the preparation of the factory, and the sorting out of the sales channels, various signals have emerged, bringing hope for Nezha Auto's "self - rescue". It seems that everything is ready, except for starting to build cars.
02
The Assets Have Become a "Hot Commodity"
As one of the first new - energy vehicle startups in China to fully enjoy policy dividends, Nezha Auto's glory came quickly and also faded quickly.
In 2022, Nezha Auto's annual sales reached 152,100 vehicles. It not only became the sales champion among new - energy vehicle startups that year but also was the first new - energy brand to exceed 150,000 annual sales.
However, the situation took a sharp turn for the worse. In 2023, Nezha Auto's sales declined sharply, and since 2024, it has faced operational problems. Costs and the capital chain have become a black hole devouring Nezha Auto.
More problems began to surface one after another. News of layoffs, salary cuts, and wage arrears kept coming. Subsequently, the factory shut down, and employees and dealers came to demand payment. Nezha Auto was deeply involved in a public - opinion storm and entered the stage of bankruptcy and restructuring.
Although there are signs of hope now, Nezha Auto's path to rebirth is still very uncertain. For example, the pressure to restore production capacity caused by employee turnover, the complexity of rebuilding the channel network, and the uncertainty in the process of bankruptcy and restructuring are all real problems that Nezha Auto needs to face.
The most core issue is still the funding problem, which is also the key to determining whether Nezha Auto can get a "rebirth card".
It is worth mentioning that one month after the pre - recruitment of potential investors for restructuring, Hozon New Energy, Nezha Auto's parent company, officially started the process of screening the "saviors" of Nezha Auto. The registration deadline is September 15, 2025.
Compared with the previous pre - recruitment announcement for potential investors issued by the administrator of Hozon New Energy, there are many more regulations on the conditions for potential investors in this official recruitment.
First, there is a certain threshold for the registration deposit. The registration deposit is 50 million yuan (including any previously paid intention deposit). The announcement states that potential investors for the restructuring of Nezha Auto should pay a registration deposit of 50 million yuan to the administrator's designated account before 17:00 on September 15, 2025, and only after submitting the registration materials will they be considered successfully registered; otherwise, the registration will be invalid.
Moreover, if potential investors for the restructuring want to conduct due diligence on Hozon New Energy, they also need to pay a due - diligence deposit of 10 million yuan. At the same time, they will bear the costs incurred during the due - diligence process themselves.
However, according to the announcement, although Hozon New Energy stopped production in November 2024, its production - line equipment is currently operating normally, and it still retains more than 400 employees, including the management team and core technical personnel. It has the conditions to continue production and operation.
After the final restructuring investor is determined, they need to sign the corresponding "Restructuring Investment Agreement" with the administrator in a timely manner. And within three working days after signing the agreement, the restructuring investor needs to pay an investment deposit of 100 million yuan to the administrator.
It's not hard to see that this official recruitment is more "substantive" than the previous pre - recruitment. To participate in this restructuring, one has to pay at least 50 million yuan first.
Unexpectedly, once the news was released, Nezha Auto's assets were in high demand. As of the time of writing, more than 55 potential investors have participated. In other words, there are quite a few people who want to save Nezha Auto or take it over.
According to the announcement, the asset structure of Hozon New Energy mainly includes fixed assets, parts supply chains, overseas intellectual property rights, and accounts receivable.
Specifically, fixed assets include 350 mu of industrial land in Tongxiang, production bases in Yichun, Jiangxi, and Nanning, Guangxi (including overseas ones), and parts factories in Tongcheng, Fengtai, and Fengyang, Anhui. In terms of intellectual property rights, there are software products and the registered trademark "Nezha Auto".
The key issue is accounts payable. According to public information, Hozon New Energy had cumulative losses of nearly 20 billion yuan from 2020 - 2023, and in terms of debt, the company owes about 6 billion yuan to suppliers.
Judging from the enthusiasm of potential investors, is Nezha Auto about to bid farewell to its troubled past?
This article is from the WeChat official account "SuperEV - Lab" (ID: SuperEV - Lab), written by Wang Lei and edited by Qin Zhangyong. It is published by 36Kr with permission.