Spent 3.5 billion to build a factory, now fire sale at 60.3 million! Nezha Factory's full set of production equipment is being judicially auctioned.

today, the Qingxiu District People's Court of Nanning City officially auctioned off the entire set of production machinery and equipment for Neta Auto's Nanning base on Alibaba's judicial auction platform. 467 sets of vehicle manufacturing equipment have an assessed value and starting price of 60.3079 million yuan. As of the initial auction period, there are no prospective bidders registered for interest.

These pieces of equipment belong to two Nanning project companies under Hozon New Energy, located in the Changlong Road plant area of Lingli Industrial Park, covering complete sets of vehicle manufacturing supporting equipment such as stamping production lines, assembly manipulators, and vehicle inspection lines. This auction stems from multiple debt enforcement cases. On one hand, a local Nanning enterprise applied for enforcement of over 45.68 million yuan in arrears due to a sales contract dispute.

On the other hand, the Nanning Industry Investment Group won a lawsuit over a factory rental dispute, with nearly 130 million yuan in claims awaiting recovery. Under multiple debt pressures, the court seized the company's own equipment to offset debts. It is worth noting that the land and factory buildings of the plant area were fully funded by Nanning state-owned assets, with property rights still held by local platforms. This auction only deals with the automotive company's own mechanical equipment.

In 2019, Hozon New Energy and the Nanning municipal government finalized a major strategic cooperation, leading to the establishment of the Neta Auto Nanning production base. Under the cooperation framework, Nanning state-owned assets were responsible for providing site and financial support, with a total project investment plan of 3.5 billion yuan.

During implementation, local state-owned assets invested a total of 2.4 billion yuan in equity participation, while also providing 550 million yuan in special subsidies. The base's planned production capacity is 100,000 pure electric vehicles per year, with production starting at the end of 2021. At the peak of the brand's development, Neta Auto's annual sales surpassed NIO, Li Auto, and XPeng, ranking among the top sales positions for new EV players.

However, the market trend quickly reversed. Since 2023, brand sales have continued to decline. By early 2025, monthly retail sales were only around a hundred units. The company accumulated losses of over 18.3 billion yuan from 2021 to 2023.

In June 2025, Hozon New Energy entered bankruptcy restructuring proceedings. Over a thousand creditors filed claims totaling 26.58 billion yuan. The three major production bases in Tongxiang, Yichun, and Nanning have successively halted production. Besides Nanning, state-owned assets in Zhejiang and Jiangxi provinces have also filed claims worth hundreds of millions of yuan, making it difficult to recover large investments from multiple local state-owned capital sources.