SNAT: The court has ruled to accept the reorganization of its wholly-owned subsidiary SAIC Hongyan
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SNAT announced that its wholly-owned subsidiary SAIC Hongyan Automotive Co., Ltd. has been ruled by the Chongqing No. 5 Intermediate People's Court to accept the reorganization application. The reorganization process may face uncertainties such as the failure of the plan vote and court disapproval, but it is expected not to have a significant impact on the company's non-heavy truck business. The final impact will depend on the reorganization plan and the court's ruling
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