Zotye Auto Repays Debt Early and Launches Recruitment Drive

[Corporate Update] Zotye Auto has fully repaid nearly RMB 400 million in debt ahead of schedule and initiated large-scale recruitment to advance its production resumption plan.

Core Development: Early Debt Repayment to Preserve Assets, Clear Signal of Production Resumption

RMB 385 million in debt has been fully repaid ahead of the original maturity date of January 31, 2026. The repayment involves Bank of China Yongkang Branch and China Construction Bank Yongkang Branch. This move aims to prevent forced asset auctions and safeguard core resources.

Key Metrics: Over 40 Positions Open, Outstanding Debt Remains a Challenge

The company has launched recruitment drives in Jinhua and Hangzhou, offering more than 40 positions, including critical roles such as Chief Engineer of Power Battery Systems and Chief Engineer of Suspension Systems. As of the announcement date, RMB 209 million in debt remains overdue, including newly added arrears of RMB 69.4611 million.

Strategic Foundation: Seizing the 'Comeback Window' to Regain Momentum

Amid attempts by other new energy vehicle players like WM Motor and Jiyue to stage comebacks, Zotye is seeking to capitalize on this revival window by swiftly resolving debt issues and rebuilding its technical team to capture returning market opportunities.