Nezha Auto reaches a 2 billion yuan debt-to-equity swap agreement with 134 core suppliers

Nezha Auto recently announced that it has reached debt-for-equity swap agreements with 134 core suppliers in China, totaling more than 2 billion yuan. According to the agreement, 70% of the suppliers' claims will be converted into equity of Nezha Auto's parent company Hozon Auto, and the remaining 30% of the claims will be repaid in installments in the form of interest-free debt. This move has received positive responses from leading suppliers including CATL, Guoxuan High-tech, Beidou Zhilian and Lvye Automotive Lighting.