Zotye Auto Receives Shenzhen Stock Exchange Warning Over Failure to Disclose RMB 70 Million in Overdue Debt

On March 27, the Shenzhen Stock Exchange (SZSE) issued a regulatory letter to Zotye Auto Co., Ltd. (SZSE: 000980) for failing to promptly disclose an overdue and unpaid debt of RMB 69.4611 million, which matured on December 21, 2025. The company did not announce this until January 27, 2026, violating relevant information disclosure regulations. Li Lizhong, then Chairman; Han Biwen, General Manager; and Wang Yian, Secretary of the Board, were found to have failed in their duty of due diligence and bear primary responsibility. The SZSE required the company and the relevant individuals to draw lessons from this incident and strictly fulfill their information disclosure obligations. Previously, Zotye had reported losses for seven consecutive years and undergone bankruptcy restructuring. Recently, although the company has resumed production at its subsidiary Shenzhen Kang Bodywork and prepaid a total of RMB 3.85 billion in debts to two banks, it acknowledged that it still faces significant funding pressure, and the full recovery of its vehicle manufacturing operations remains uncertain.