Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Overstated Restructuring Gains Lead to Multi-Year Financial Report Corrections; Warning and CSRC Investigation
Zotye overstated debt restructuring gains and other items by RMB 254 million in 2021, involving corrections to reports from 2021 to 2024. The Zhejiang Securities Regulatory Bureau issued warning letters to the company and several directors, supervisors, and senior executives; in 2026 the CSRC opened an investigation on suspicion of information disclosure violations.
2020
Huge Losses, Eight Months of Unpaid Wages, Then Bankruptcy Restructuring
Zotye Auto, known for imitating the appearance of luxury cars, saw sales collapse after 2019 and suffered a huge loss of RMB 10 billion; in 2020 it owed employees about eight months of wages, prompting wage protests, and its stock was placed under ST designation. In 2021 a court accepted and approved the restructuring plan, with Jiangsu Shensang taking over for about RMB 2 billion.