Ji Yue Auto's Substantive Consolidation Restructuring of Six Affiliated Entities Accepted by Court

[Company Update] The court has ruled to accept the application for substantive consolidation restructuring of six affiliated entities related to Ji Yue Auto.

Key Development: Transition from Pre-restructuring to Judicial Restructuring Phase

In the early hours of May 1, 2026, Ji Yue Auto announced via its official WeChat account that the Shanghai No.3 Intermediate People's Court has formally accepted the application for substantive consolidation restructuring of six affiliated entities, including Shanghai Jidu Automotive Co., Ltd. (Case No.: (2026) Hu 03 Po 515). This marks the official transition of its pre-restructuring process—initiated on November 21, 2025—into the judicial restructuring phase.

Strategic Foundation: Revitalizing Assets to Attract Strategic Investment

This restructuring aims to revitalize existing assets and resources, preserve enterprise value, and pave the way for the introduction of a strategic investor. A technology company from Dubai, UAE, has already submitted investment application materials. The company emphasized that it will maintain core business operations under the supervision of the administrator to safeguard the rights and interests of users and creditors.

Industry Impact: A Restructuring Model for Lagging New Energy Vehicle Startups

As a new energy vehicle startup jointly incubated by Baidu and Geely, if successful, Ji Yue’s current restructuring could become a pivotal case demonstrating how trailing EV brands can achieve revival through judicial proceedings.