Zotye Automobile unfreezes bulk of shares, plans public disposal

Zotye Automobile Co., Ltd. announced on December 10, 2025, that 312,709,121 shares, held in its special account for the disposal of assets of bankrupt enterprises, have been judicially unfrozen. This unfreezing, initiated by the Shenzhen Luohu District People's Court, represents 93.42% of the shares in the disposal account and 6.20% of the company's total share capital. The shares, originally frozen due to a lawsuit involving 83,874,968.33 yuan, were unfrozen between December 8 and December 9, 2025.

However, a remaining 22,014,428 shares in the disposal account, representing 6.58% of the disposal account's holdings and 0.44% of the company's total share capital, remain judicially frozen. This is due to a separate borrowing contract dispute with Shenzhen Lixun Industrial Co., Ltd., also involving 83,874,968.33 yuan.

The company plans to publicly dispose of the remaining unencumbered shares from the disposal account within three months, starting December 9, 2025. This disposal, conducted via centralized bidding and block trades, will not exceed 3% of the company's total share capital, or 151,276,432 shares. The proceeds from these sales will increase the company's net assets and be used to support the resumption of vehicle manufacturing operations, as detailed in an earlier announcement on November 18, 2025.