Ji Yue Auto's Six Affiliates Enter Substantive Consolidation Restructuring

On May 1, 2026, Shanghai Jidu Automobile Co., Ltd. announced that the Shanghai No.3 Intermediate People's Court has ruled to accept the application for substantive consolidation and reorganization of the company together with its five affiliated entities—Shanghai Jidu Technology Co., Ltd., Jidu Technology (Wuhan) Co., Ltd., Wuhan Jidu Automobile Service Co., Ltd., Beijing Jidu Technology Co., Ltd., and Beijing Jidu Automotive Components Co., Ltd.—under case number (2026) Hu 03 Po 515. According to the announcement, the substantive consolidation and reorganization aims to revitalize existing assets and resources, preserve asset value, and create conditions for attracting strategic investment. Under the supervision of the administrator, the company and all entities within the consolidated group will maintain normal operations of their core businesses, legally safeguarding the legitimate rights and interests of users, creditors, and other relevant parties, and ensuring the stable and orderly continuation of services and business activities. Previously, on November 21, 2025, Shanghai Jidu Automobile Co., Ltd. had filed a pre-reorganization application with the Shanghai No.3 Intermediate People's Court, which was accepted by the court. The court simultaneously appointed Zhong Lun (Shanghai) Law Firm as the provisional administrator to advance the pre-reorganization process. The company cautioned that uncertainties remain regarding the reorganization, and future developments will be disclosed through official announcements.