NIOA Auto's Nanning Plant Equipment Auction Fails Again; Second Bid Starts at RMB 48.24 Million with No Bidders

A batch of production equipment stored at No. 88 Changlong Road, Lingli Town, Qingxiu District, Nanning, failed to attract any bids in its first judicial auction, with a starting price of approximately RMB 60.3079 million. This address is the location of Neta Auto's Nanning production base. The equipment belongs to Guangxi Ningda Automotive Technology Co., Ltd.—a Nanning-based subsidiary of Hozon New Energy Automobile Co., Ltd.—and its granddaughter company, Nanning Ningda New Energy Automobile Co., Ltd. The equipment has now entered a second auction, with the starting price reduced to RMB 48.2463 million; as of the opening of bidding on August 12, no bidders have registered. The enforcement case associated with this auction bears the case number (2026) Gui 0103 Zhi 178. The applicant for enforcement is Nanning Zhihong Technology Co., Ltd., and the respondents are Nanning Ningda New Energy Automobile Co., Ltd., Guangxi Ningda Automotive Technology Co., Ltd., Hozon New Energy Automobile Co., Ltd., and Nanning Yonghe Investment Co., Ltd., with an enforcement amount of RMB 45,686,632. Public records show that on November 27, 2019, the Nanning municipal government signed a strategic cooperation agreement with Zhejiang Hozon New Energy Automobile Co., Ltd., planning a RMB 3.5 billion investment to build a project capable of producing 100,000 pure electric passenger vehicles annually, with an estimated annual output value of approximately RMB 12 billion upon full operation.