Neta Auto Secures 2 Billion Yuan Debt-to-Equity Infusion Led by Yuqun Zeng, Plus Strategic Credit Line

Led by Yuqun Zeng, Neta Auto Receives 2 Billion Yuan "Infusion"

On March 25, Neta Auto announced that after three rounds of candid consultations, the company has reached a consensus with 134 core suppliers, including CATL, Gotion High-tech, and REPT Battero, represented by Yuqun Zeng. They jointly signed a debt-to-equity agreement exceeding 2 billion yuan, while simultaneously introducing a strategic credit line of 10 billion Thai baht (approximately 2.15 billion yuan) from Thai financial institutions. Previously, Neta Auto held supplier conferences in Tongxiang and Shanghai, proposing a debt-to-equity plan to resolve liabilities. The plan aims to convert 70% of supplier debt into equity at the parent company, Hozon Auto, with the remaining 30% to be settled in cash as interest-free deferred debt. The E-round financing, originally scheduled for March 2025, has been delayed to April due to risks.