Neta automobile's parent company initiates restructuring investor recruitment, potential for "rebirth"?

In July 2025, the parent company of Nezha Automobile, Hozon New Energy Automobile Co., Ltd., officially launched a pre-recruitment for restructuring intention investors. Interested strategic investors can submit pre-registration materials through the Alibaba Asset Platform starting from July 10. This move comes just 8 months after its suspension of production in November 2024, bringing a possibility of rebirth for this company that was once hailed as a "dark horse in the new energy sector."

From establishment to the accumulation of global.

Image source: Hezhong New Energy Management

Aulton New Energy was established on October 16, 2014, with the registration authority being the Jiaxing Market Supervision Administration. The legal representative is the chairman, Fang Yunzhu, and the registered capital has reached 2.84 billion yuan. It is located in Tongxiang City, Zhejiang Province. As a foreign-invested unlisted joint-stock company, the most remarkable aspect of its development trajectory is the gradually constructed industrial network covering both domestic and international markets.

As of May 1, 2025, the core assets of Huzhong New Energy include fixed assets, machinery and equipment, intellectual property, and accounts receivable. Among them, fixed assets encompass 350 acres of industrial land located in the Tongxiang Economic Development Zone; machinery and equipment include integrated workshop production lines, production molds, transportation tools, and experimental equipment; intellectual property is primarily based on independently developed software products and the registered trademark "Nezha Automobile."

In terms of industrial layout, Hozon New Energy has formed a dual-drive pattern of "deep cultivation in the domestic market + expansion overseas." Domestically, in addition to the Tongxiang base, it also has two major production bases: the Yichun base in Jiangxi, which was put into operation in 2022, is an "all-ecological smart factory" meeting Industry 4.0 standards, with an annual production capacity of 100,000 vehicles; the Nanning base in Guangxi, in which it holds an 85.3% stake, also has an annual production capacity of 100,000 vehicles and is positioned as an export KD parts base for overseas markets. Additionally, there are three core component factories in Tongcheng, Fengtai, and Fengyang, creating a relatively complete supply chain system.

Image source: Nezha Auto

Nezha's layout in overseas markets is more forward-looking, with factories in Southeast Asia located in Bangkok, Thailand, Jakarta, Indonesia, and Malaysia. Among them, the Bangkok factory and the Jakarta factory are set to start production in 2024. Both factories adopt the CKD (Completely Knocked Down) assembly model to achieve localized production, laying the foundation for their globalization strategy. The Malaysia factory began construction in 2023 and is expected to commence production this year.

Nazhah has a certain brand accumulation in the Southeast Asian market, and its sales performance in Southeast Asia is quite impressive. According to relevant data, the delivery volume of the Nazhah AYA series in Southeast Asia exceeded 50,000 units in 2023, accounting for 52.0% of the Southeast Asian small pure electric vehicle market. In the entire year of 2023, Nazhah Automobile's market share in Thailand's electric vehicle market reached 12%.

Reorganized core values: multiple foundations of qualifications, technology, and market.

Regarding this restructuring, the manager of Hozon Auto has clearly stated that the core investment value of Hozon Auto can be regarded as a "hidden gem" in the field of new energy vehicles. As a rare "dual-qualification" enterprise in the domestic new energy passenger vehicle sector, Hozon Auto is not only one of the first companies to receive dual certification from the National Development and Reform Commission and the Ministry of Industry and Information Technology, but also relies on independent research and development to master the "Shanhai + Yunhe" vehicle platform and the "Haozhi + Tiangong Battery" core technology, thus establishing its core technological barriers.

Since its launch in 2018, the "Neta" brand has sold over 460,000 vehicles, with annual sales surpassing 150,000 units in 2022. Its product matrix covers the mainstream price range of 80,000 to 200,000 yuan, including multiple models such as Neta V/AYA, X, L, S series, and GT, accumulating a solid user base. Additionally, Hozon New Energy's overseas first-mover advantage is also prominent. Through localized production in CKD factories in Thailand and Indonesia, Neta has seized the initiative in the Southeast Asian market, laying a foundation for global expansion in terms of capacity and channels.

The more critical production resumption potential of Hozon Auto lies in the fact that its production line equipment has remained in good condition since its shutdown in November 2024 for 8 months. More than 400 core team members, including management and technical personnel, are still retained, which means that with external resource injection, it has the ability to quickly resume production and effectively maintain existing market resources and industry position. In addition, the company's base in Tongxiang, Zhejiang, has been recognized as one of the "Top Ten Counties (Cities) for Business Environment" in 2024, providing stable policy and legal guarantees for its post-restructuring development.

Regarding the production resumption prospects of Nezha Auto, the management of Hozon New Energy holds an optimistic attitude. They stated that the current production line equipment is operating normally, the core team is stable, and as long as external conditions are met, production can be quickly resumed, regaining market competitiveness.

The opening of this pre-recruitment provides a market-oriented path for Hozon New Energy to introduce strategic investors and resolve its operational difficulties. For capital interested in entering the new energy vehicle sector, Hozon New Energy possesses dual qualifications, core technologies, a mature brand, and a global layout, making it a relatively promising investment opportunity. Currently, both within and outside the industry are observing and anticipating; if Hozon New Energy successfully restructures, it may usher in the hope of a "rebirth."