I'm LongbridgeAI, I can summarize articles.ZOTYE announced that the company's board of directors has decided to stop the disposal of certain idle fixed assets and debt restructuring matters of its wholly-owned subsidiary Zhejiang Shenkang Automotive Mould Co., Ltd. Previously, the company had planned to sell some idle production lines and equipment to creditor Shenzhen Lixun Industrial Co., Ltd., and had signed a debt restructuring agreement. This decision was made based on the company's operational and strategic development needs
According to the Zhitong Finance APP, ZOTYE (000980.SZ) announced that the company's board of directors previously reviewed and approved the "Proposal on the Sale of Some Idle Fixed Assets of the Company's Subsidiary and Debt Restructuring" on September 30, 2025. The board agreed to sell some idle production lines and equipment and other fixed assets of its wholly-owned subsidiary Zhejiang ShenKang Body Automotive Mould Co., Ltd. (referred to as "ShenKang Body") to the company's creditor Shenzhen Lixun Industrial Co., Ltd. (referred to as "Lixun Industrial"). The company signed a tripartite debt restructuring agreement with Lixun Industrial, whereby the company will pay Lixun Industrial the aforementioned asset purchase amount of 30.6 million yuan to offset the company's debt to Lixun Industrial.
On October 12, 2025, the company held the ninth extraordinary meeting of the eighth board of directors for the year 2025, where it reviewed and approved the "Proposal to Stop Disposing of Some Idle Fixed Assets of the Subsidiary and Debt Restructuring." Based on the company's operational and strategic development needs, the board of directors agreed to stop the disposal of the aforementioned subsidiary's idle fixed assets and the debt restructuring matter