SAIC Hongyan faces bankruptcy reorganization application

Chongqing Anji Hongyan Logistics Co., Ltd., a creditor of SAIC Hongyan Automobile Co., Ltd., has filed a bankruptcy reorganization application against SAIC Hongyan. The Chongqing Fifth Intermediate People's Court officially accepted the case on July 1, 2025. SAIC Hongyan is a subsidiary of SAIC Group, China's largest automobile group, and Shanghai New Energy Automobile Technology Co., Ltd., and has rich experience in heavy truck manufacturing. If the reorganization is successful, it will help solve the debt problem.