NIO Auto Founder Fang Yunzhou and Former CEO Zhang Yong Named Dishonest Debtors Over Unpaid 220,000 Yuan

On March 13, risk information from Tianyancha showed that Fang Yunzhou, founder and chairman of Neta Auto, along with co-founder and former CEO Zhang Yong, as well as their affiliated entity—Yichun Langling Enterprise Management Consulting Center (Limited Partnership)—were listed as dishonest judgment debtors by Shanghai Changning District People's Court. The court ruled they had the ability to fulfill but deliberately refused to comply with effective legal obligations. The involved amount totals approximately RMB 226,800, none of which has been repaid to date. Fang Yunzhou is the actual controller of the consulting center, and Zhang Yong is also a partner. Both individuals currently remain chairman and director & general manager, respectively, of Hozon New Energy Automobile Co., Ltd., Neta Auto’s parent company. Hozon New Energy entered bankruptcy reorganization proceedings in June 2024, with outstanding enforcement amounts exceeding RMB 71.74 million and a historical total enforcement amount reaching RMB 228 million. The company also has 99 recorded equity freezes. Since peaking as the top-selling new energy vehicle startup in 2022, Neta Auto has experienced continuous sales declines and, since 2024, has been embroiled in controversies involving layoffs, salary cuts, and payment defaults.