Baoneng Group Chairman Makes Public Accusation of Illegal Operations in Qoros Auto Enforcement Case

Yao Zhenhua, chairman of Baoneng Group, released a video accusing Qoros Auto of illegal operations in a 270 million yuan enforcement case, leading to the company's assets being auctioned off at a low price, through the company's official WeChat account. Yao pointed out that relevant departments in Changshu illegally established a liquidation team and excessively seized core assets. Assets such as land, factory buildings, and equipment, valued at 8 billion yuan by a third-party assessment, were undervalued at 1.5 billion yuan, with a starting price of only 860 million yuan. The auction is scheduled to begin at 10:00 AM on January 15, 2026, and is suspected of involving the undervaluation of assets before bankruptcy liquidation.