Neta Auto Founding Team's Equity Worth RMB 116 Million Frozen

[Company Update] Neta Auto founder Fang Yunzhou and former CEO Zhang Yong have had a combined RMB 116 million in equity frozen.

Key Development: Fang Yunzhou and Zhang Yong's stakes in Tongxiang Hechuang Deli II Enterprise have been judicially frozen.

Equity valued at RMB 140.0 million and RMB 1,020.0 million belongs to Fang Yunzhou and Zhang Yong, respectively. The freeze period runs from June 12, 2026, to June 11, 2029, enforced by the Changning District People's Court of Shanghai.

Strategic Context: Frozen Assets Linked to Neta Auto’s Core Founding Structure

The entity involved, Tongxiang Hechuang Deli II Enterprise, was established in September 2022 and co-founded by Zhang Yong (51%) and Fang Yunzhou (7%). It is a key affiliate of Hozon New Energy Automobile Co., Ltd., Neta Auto’s parent company, and primarily engages in enterprise management consulting.

Industry Impact: Stability of Early NEV Teams Under Renewed Scrutiny

Once a sales leader among Chinese EV startups, Neta Auto continues to face mounting pressure. The freezing of core founders’ assets may further intensify market concerns over its cash flow and corporate governance structure.