Response from Zotye Motors regarding whether the actual controller Huang Jihong has lost contact Currently able to establish contact

Zotye Motors has reestablished contact with the actual controller, Huang Jihong

【phoneauto News】On August 22nd, phoneauto noticed that the securities department of Zotye Auto has responded to the issues of termination of private placement, progress in change of controlling shareholder, and whether Huang Jihong is missing or not.

The employees of Zotye Auto’s factory stated that the private placement was terminated for three reasons: changes in the external market environment, the actual operation of the company, and the current planning of a change in controlling shareholder. As for the progress in the change of controlling shareholder, the employee stated that they have not received further specific information and any significant progress will be announced externally. As for the question of whether Huang Jihong, the controlling shareholder of Zotye Auto, is missing or not, the employee said, “No, no, no, we can currently contact Mr. Huang.”

On August 21st, just after market close, Zotye Auto released its semi-annual report for 2023. The information shows that in the first half of 2023, Zotye Auto achieved operating income of 371 million yuan, a year-on-year increase of 24.55%; the net profit attributable to shareholders of the listed company was a loss of 284 million yuan, compared to a loss of 277 million yuan in the same period of 2022, with a increase of 2.37% in the amount of loss. At the same time, in the first half of 2023, Zotye Auto’s total vehicle sales volume was 872 units and 652 units, and the overall scale is still relatively small, so the overall performance is still in a loss state.

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According to the information obtained by phoneauto, Zotye Auto officially resumed production in October 2022. On October 20, 2022, Zotye Auto rolled off its first batch of T300 models at its base in Yongkang, Zhejiang. In February 2023, Zotye Auto officially launched a new pure electric intelligent mini car called Jiangnan U2. This model offers six different versions, with CLTC driving ranges of 151 kilometers, 305 kilometers, and 406 kilometers, and a starting presale price of 58,800 yuan.

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