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Nezha Auto Mired in Multiple Crises: Former CEO Zhang Yong Allegedly Stranded in UK, Subsidiaries Reduced to "Shell Companies"​

Summary by Pandaily
Chinese New energy vehicle maker Nezha Auto is embroiled in controversy as multiple Chinese media outlets report that former CEO Zhang Yong, who stepped down in December 2024, has obtained a UK visa and remains overseas. Investigations reveal that over 20 companies linked to Zhang Yong, including Tongxiang Hechuang Deli Er and San Technology Consulting Partnerships, have allegedly engaged in asset stripping and debt evasion, leaving subsidiaries…
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Pandaily broke the news in on Monday, April 14, 2025.
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