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Haima and Chuneng Passenger Vehicle JV R&D Company Launched in Zhengzhou, Haima Holds 51%

Haima and Chuneng Passenger Vehicle JV R&D Company Launched in Zhengzhou, Haima Holds 51%

Zhengzhou Chujie Automotive R&D Co., Ltd. has completed registration with registered capital of RMB 1 million. It is 51% held by Haima Automobile Co., Ltd. and 49% by Wuhan Chuneng Passenger Vehicle Co., Ltd. Its legal representative is Qin Ming, and its registered address is Haima Zhengzhou Base in Zhengzhou Economic Development Zone. The company's business scope covers auto parts R&D, new energy vehicle whole-vehicle sales, and other areas, but excludes whole-vehicle manufacturing; it is positioned as an R&D, trading, and sales entity. The two parties intend to collaborate on whole-vehicle technology, parts development, and market introduction, revitalize the production capacity of Haima Zhengzhou Base, and help advance the Chuneng passenger vehicle project. Mass production remains to be advanced later.

41815 days ago
Evergrande Auto Confirms Exit from Vehicle Manufacturing: RMB182M Assets, RMB32.722B Liabilities

Evergrande Auto Confirms Exit from Vehicle Manufacturing: RMB182M Assets, RMB32.722B Liabilities

Evergrande Auto announced on September 17 that it confirmed the termination of vehicle manufacturing, completed its asset-light transformation, and that its domestic production bases have been disposed of or entered bankruptcy liquidation, with the entity at the Tianjin base receiving a court bankruptcy ruling. As of June 30, 2026, the company had assets of approximately RMB 182 million and liabilities of RMB 32.722 billion, and its shares remain suspended from trading. Its business retains Swedish NEVS automotive technical services and has added lithium-ion battery trading. This case shows that exiting heavy assets does not equal clearing debt risks, providing a reference for Chinese automakers' overseas plant construction and technology export.

43145 days ago
Automotive Investment Logic Shifts: From Growth Premium to Structural Divergence

Automotive Investment Logic Shifts: From Growth Premium to Structural Divergence

2021 was regarded as the golden age for auto stocks, with the CSI New Energy Vehicle Index climbing 56.96% for the year. Yet from 2021 to 2025, China's NEV sales surged from 3.5 million to 16.49 million units — a nearly fourfold increase — while most auto stock investors failed to profit. The misalignment between industry growth and investment returns is prompting market participants to re-examine the valuation framework for the automotive sector.

35781 days ago