On Sept. 14 Shanzi Gaoke opened at and closed on the 10% daily upper limit, ending at CNY2.85 (+10.04%); turnover CNY773 mln, turnover rate 2.85%. A draft restructuring plan disclosed at a Sept. 11 creditors’ meeting shows Zhejiang Taiyi Shenglian (an investment vehicle set up in April 2026) would propose investing CNY3.0 bln to acquire about 70.62% of Hezhong New Energy, the parent of Nezha Auto. Zhejiang Shanzi Holding, a partner in Taiyi Shenglian, is ultimately controlled by Shanzi Gaoke cha

On Sept. 14 Shanzi Gaoke opened at and closed on the 10% daily upper limit, ending at CNY2.85 (+10.04%); turnover CNY773 mln, turnover rate 2.85%. A draft restructuring plan disclosed at a Sept. 11 creditors’ meeting shows Zhejiang Taiyi Shenglian (an investment vehicle set up in April 2026) would propose investing CNY3.0 bln to acquire about 70.62% of Hezhong New Energy, the parent of Nezha Auto. Zhejiang Shanzi Holding, a partner in Taiyi Shenglian, is ultimately controlled by Shanzi Gaoke chairman Ye Ji. Taiyi Shenglian is not a Shanzi Gaoke subsidiary and the listed company itself is not participating in the investment.