Reports of Jiyue Filing for Bankruptcy Denied; Company Initiates Pre-Reorganization and Seeks New Investors

Sina Tech reported on the evening of November 24 that rumors claiming “Jiyue Auto’s affiliated company has filed for bankruptcy” have been refuted. Insiders clarified that the company has initiated a pre-reorganization process, aimed at bringing in new investors, rather than entering bankruptcy proceedings.

Information from Tianyancha shows that Shanghai Jidu Automotive Co., Ltd., an affiliate of Jiyue, recorded a new case review filing on November 24. Both the applicant and the respondent are listed as the company itself, with the case handled by the Shanghai No. 3 Intermediate People’s Court. Industry observers note that this filing is consistent with the standard procedure of a pre-reorganization process.