Qoros Auto Faces Bankruptcy Review; Hangzhou Chengmao Investment Is the Largest Shareholder

[Corporate Update] Qoros Auto Co., Ltd. has been subjected to a bankruptcy review application.

⚡ Key Development: Qoros Auto Officially Enters Bankruptcy Review Proceedings

On December 22, the Suzhou Intermediate People's Court of Jiangsu Province accepted the bankruptcy review application against Qoros Auto Co., Ltd., with case number (2025) Su 05 Po Shen No. 39. The applicant is Shenzhen Xinben Supply Chain Co., Ltd. Qoros was established in December 2007, with a registered capital of RMB 16.925 billion, and its legal representative is He Hua.

🔍 Strategic Context: Continuous Operational Deterioration Under Baoneng Group Control

The company is jointly held by Hangzhou Chengmao Investment (63% stake), Chery, and QUANTUM LLC, with Yao Zhenhua as the actual controller. Since 2019, vehicle sales have plummeted dramatically—only 5,200 units were sold in 2021. Its Changshu factory has ceased production, and as of December 2025, the company faces over 31 equity freezes, involving amounts exceeding RMB 35 billion.

💡 Industry Impact: Pioneer of Premium Chinese Brands Exits the Stage

As an early premium-positioned domestic brand, Qoros once garnered design awards for its German-inspired styling and the MILE II concept car, but ultimately approached judicial restructuring due to a broken capital chain and collapsed sales channels.