Zotye Auto received a regulatory letter from the Shenzhen Stock Exchange for failing to disclose on time the 69.46 million yuan in overdue unpaid debts.

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Zhongtai Auto Co., Ltd. (hereinafter referred to as “Zhongtai Auto”) has recently received a regulatory letter issued by the Shenzhen Stock Exchange. This is because it failed to timely disclose the restructuring reserved-debt principal of RMB 69.46 million that was due on December 21, 2025. It only disclosed the matter to the public on January 27, 2026, which violates relevant information disclosure requirements. The Chairman at the time, Li Zhongzhong, the General Manager at the time, Han Biwen, and the Secretary to the Board at the time, Wang Yian, bear primary responsibility for the above violations.

According to the announcement, pursuant to the restructuring plan arrangements for Zhongtai Auto, the company is required to repay the restructuring reserved-debt principal on December 21, 2023, December 21, 2024, December 21, 2025, and December 21, 2026 at 10%, 20%, 30%, and 40%, respectively. Of the debt principal due to be repaid on December 21, 2025, the total outstanding principal not yet repaid on time added up to RMB 69.46 million for Zhongtai Auto and its subsidiaries. However, the company failed to fulfill its information disclosure obligations in a timely manner when the debts became due, and only disclosed the above matter on January 27, 2026.

The Shenzhen Stock Exchange stated that the above conduct by Zhongtai Auto violates the relevant provisions of Article 1.4, Article 2.1.1, and Article 7.7.7 of the “Stock Listing Rules (2025 Revised)” regarding the requirement to promptly disclose other major matters.

Meanwhile, the Chairman at the time, Li Zhongzhong, and the General Manager at the time, Han Biwen, failed to properly discharge their duties and fulfill the duties of loyalty and diligence, in violation of the relevant provisions of Article 1.4, Article 2.1.2, first paragraph, and Article 4.3.1, first paragraph of the “Stock Listing Rules (2025 Revised).” The Secretary to the Board at the time, Wang Yian, violated the provisions of Article 1.4, Article 2.1.2, first paragraph, Article 4.3.1, first paragraph, and Article 4.4.2, item (1) of the “Stock Listing Rules (2025 Revised).” The above personnel all bear primary responsibility for the company’s violations.

The Shenzhen Stock Exchange said it hopes that Zhongtai Auto and all directors and senior management will seriously draw lessons from this incident, strictly comply with laws and regulations such as the “Securities Law” and the “Company Law,” as well as the “Stock Listing Rules” of this exchange, and truly, accurately, completely, promptly, and fairly fulfill their information disclosure obligations, to prevent such events from occurring again.

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Responsible editor: Xiao Lang Express