Dongxing New Technology's subsidiary SAIC Hongyan has been applied for reorganization
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SAIC New Energy's wholly-owned subsidiary SAIC Hongyan has been applied for bankruptcy reorganization by Chongqing Anji Logistics due to its inability to repay due debts. The Chongqing Fifth Intermediate People's Court has filed the case, but it is still uncertain whether SAIC Hongyan will enter the reorganization process. If the reorganization is successful, it will help alleviate debt pressure. The company will continue to monitor the progress and urge SAIC Hongyan to manage its daily operations effectively. The reorganization process will have little impact on the company's non-heavy truck business
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