Shanzi Hi-Tech plans to restructure Nezha Auto

Recently, sources revealed that Shanzi Hi-Tech is advancing its restructuring with Hozon New Energy, the parent company of Nezha Auto. It is reported that the former Hozon New Energy staff will complete the handover and layoff after October 1st, and the Shanzi Hi-Tech team will officially take over. Shanzi Hi-Tech plans to inject its subsidiary Nanjing Bangchi's hybrid/electric drive technology into Hozon New Energy in the form of a "technology investment," in exchange for at least 15% equity or board seats.