Zongmu Technology is in trouble and salary payments are suspended

It is reported that Zongmu Technology, a once high-profile company in the field of intelligent driving, has decided to suspend salary payments from this month due to failure to achieve expected performance, and only pay basic living expenses. Zongmu Technology was once a leading company in the parking field, with a market share of 4.9% in China's passenger car automatic parking solution market and a market share of 5.6% in the APA parking solution market. However, in recent years, the company's performance has declined, with revenue growth of only 6.18% in 2023, far lower than 108.44% in 2022. In addition, Zongmu Technology also suffered three failures during the IPO process.