NETA Auto Official Announcement : Reorganization, Investor, Preparation for Resumption of Production, Overseas After-Sales Service and Parts Supply

21 July 2025

21 July 2025

NETA Auto Official Announcement : Reorganization, Investor, Preparation for Resumption of Production, Overseas After-Sales Service and Parts Supply

Jakarta, July 21, 2025 – In light of the fact that Hozon New Energy Automobile Co., Ltd. (hereinafter referred to as “Hozon New Energy”), the parent company of Neta Auto, entered into reorganization proceedings on June 12, 2025 (hereinafter referred to as the “Reorganization”) pursuant to the Enterprise Bankruptcy Law of the People’s Republic of China, we hereby provide the following brief update to enable overseas partners and customers to keep informed of the company’s progress during the Reorganization:

At present, Hozon New Energy’s major overseas subsidiaries and certain agents are still maintaining normal business operations. Overseas subsidiaries are actively cooperating with the Administrator to promote all matters related to Hozon New Energy’s Reorganization in an orderly and lawful manner. Hozon New Energy will continue to maintain timely communication with all parties regarding the progress of the Reorganization and its significant arrangements.

I. Subject of the Reorganization

The subject of this Reorganization is Hozon New Energy Automobile Co., Ltd. The Reorganization does not include overseas subsidiaries or any overseas cooperation businesses conducted under the NETA brand by entities other than Hozon New Energy Automobile Co., Ltd. During the Reorganization, Hozon New Energy will make every effort to maintain the basic operations of its overseas business.

II. Commencement of Investor Recruitment

The Administrator of Hozon New Energy initiated the public recruitment process for strategic investors on June 30, 2025. The deadline for submission of application materials by potential investors is July 30, 2025. Several investors with potential for industrial synergy have already completed the registration process and entered the preliminary selection phase arranged by the Administrator. Based on the existing feedback, it is anticipated that more high-quality strategic capital will participate.

 

 

III. Preparation for Resumption of Production

In order to effectively revitalize assets and maximize the value of the debtor’s assets, the Administrator of Hozon New Energy will strive to protect the legitimate rights and interests of all parties, and to reasonably allocate resources and fully realize the operational value of the company’s assets through market-oriented and rule-of-law methods. Hozon New Energy is currently formulating plans for the resumption of production, aiming to restart production at the earliest possible date.

IV. Overseas After-Sales Service and Parts Supply

During the Reorganization, Hozon New Energy is collaborating with the Administrator to work towards the gradual restoration of parts center operations and will endeavor to maintain the continuity of parts supply and service for overseas customers.

Neta Auto and the Administrator of Hozon New Energy sincerely appreciate the understanding and support of our overseas partners, customers, and friends from all sectors of society who follow Neta Auto.

 

Hozon New Energy Automobile Co., Ltd.

Administrator of Hozon New Energy

July 21, 2025