Stock Code: 000980
Stock Abbreviation: Zotye Auto
Announcement No.: 2026-051
Zotye Automobile Co., Ltd.
Announcement on Reaching Debt Settlement Agreement with Creditor
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement, and there are no false records, misleading statements, or major omissions.
Zotye Automobile Co., Ltd. (hereinafter referred to as the "Company") held the sixth extraordinary meeting of the ninth Board of Directors on July 17, 2026, and deliberated and passed the "Proposal on Reaching Debt Settlement Agreement with Creditor." Regarding the sales contract dispute case between the Company's subsidiary Zotye New Energy Automobile Co., Ltd. (hereinafter referred to as "Zotye New Energy"), its Changsha Branch, and Hunan Jiangnan Automobile Manufacturing Co., Ltd. Xingsha Manufacturing Plant (hereinafter referred to as "Jiangnan Xingsha Manufacturing Plant") and Xiangtan Andao Tuo Auto Parts Co., Ltd. (hereinafter referred to as "Xiangtan Andao Tuo", formerly known as "Xiangtan Yanfeng Andao Tuo Auto Parts System Co., Ltd."), based on the actual situation and progress of the case, the Company prudently decided to reach a settlement with Xiangtan Andao Tuo and sign a "Debt Settlement Agreement."
This debt settlement matter is not a related party transaction, nor does it constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies." The specific details are hereby announced as follows:
I. Main Contents of the Settlement Agreement
Party A (Creditor): Xiangtan Andao Tuo Auto Parts Co., Ltd.
Party B 1 (Debtor 1): Zotye New Energy Automobile Co., Ltd. Changsha Branch