On October 20, Zotye launched the first batch of T300 overseas models in Zhejiang Yongkang Base, marking the official resumption of Zotye's production.

Huang Jihong, Chairman of Zotye Automobile, and Lian Gang, President of Zotye Automobile witnessed the offline of T300 overseas version. T300 overseas version is a compact SUV fuel vehicle developed based on Zotye i-AFA platform, which is mainly aimed at overseas markets such as West Asia, South Asia, South America and the Middle East. Meanwhile, the 2023 T300L will also be introduced to the domestic market.

The T300 overseas version and the T300 before bankruptcy have not changed much in shape. The length, width and height are 4405/1830/1640 (1665) mm and the wheelbase is 2610mm.

On the previous October 18, ST Zhongtai (000980. SZ) announced that the preparations before the resumption of production had been basically completed. As soon as the news came out, ST Zhongtai increased its limit by one word. From October 18 to 20, ST Zhongtai had three boards. However, on October 21, ST Zhongtai closed at 4.82 yuan, a decrease of 4.93%, and was closed at the end of the day.

Zhongtai Automobile, founded in September 2003, is an automobile manufacturing enterprise with the core business of automobile R&D, manufacturing and sales. Earlier, by copying the appearance of luxury cars, they were sought after by consumers. In 2016, with the sales of its SR9, New Damai X5 and other models, Zotye's annual cumulative sales reached 333100 vehicles, ranking among the top 10 independent brands in China. Since 2017, the sales volume of Zotye has declined in a straight line. From 2017 to 2019, Zhongtai sold 227700, 154800 and 116600 vehicles respectively.

Since 2020, the capacity utilization rate of Zotye will be almost zero due to the long-term semi shutdown or shutdown. In September 2020, Zotye began to carry out bankruptcy reorganization. In December of the same year, the controlling shareholder Tieniu Group was ruled to terminate the reorganization procedure and officially declared bankrupt.

In October 2021, Jiangsu Shenshang Holding Group invested 2 billion yuan in the restructuring of Zotye and became the controlling shareholder. Zotye's restructuring plan was completed. Before Jiangsu Shenshang Holding Group took over, Zotye had lost money for three consecutive years, and the losses in 2019 and 2020 exceeded 10 billion yuan. By the end of June 2022, the Company's revenue in the first half of the year was 298 million yuan, a year-on-year decrease of 22.40%, and its net loss was 277 million yuan, a year-on-year decrease of 63.21%.

According to the production resumption schedule previously announced by Zotye, the first stage will produce and sell Zotye TS5 core new models; The second phase of the production recovery sales plan includes several mature and compact models such as Zhongtai T600 export model, T700 medium and large SUV model, Zhongtai E200 pure electric model, and Zhongtai T300; In the third stage, the TS7 core new model was introduced, and the A00 core pure electric trolley E200 model was also introduced.

But the T300 in the second stage was actually the first to resume production. According to the public information, T300 is a small SUV owned by Zotye, with the price ranging from 45900 yuan to 93800 yuan. Previously, it was officially launched in August 2017, and stopped production until April 2020. During this period, the cumulative sales volume was about 120000 vehicles, which was one of the main products of Zotye at that time. In the 359th batch of new cars declared by the Ministry of Industry and Information Technology in July this year, Zotye T300 was listed. The declaration information shows that Zotye T300 is a compact SUV fuel vehicle, which has reached the "National Sixth" emission standard compared with the old T300, but there has not been much change in the appearance design.

On October 13, Zotye replied to investors' inquiries that the main task of the company this year is to resume production, and several models will go offline. The T300 is one of the priority models to resume production, including the T300 and T300EV. T300EV is a small SUV launched by Zotye Pure Electric, which was launched in May 2018. At that time, after subsidies, the price was 91800 to 109800 yuan, and the endurance was 250km.

It is also a major event in Yongkang City to promote the resumption of production of Zhongtai Automobile. On October 15, the official website of Yongkang Municipal Government showed that the key work arrangement of Yongkang Municipal Government in October 2022 included "accelerating the resumption of production of Zhongtai Automobile".

In June this year, Zotye Automobile issued an announcement that it planned to issue no more than 1.52 billion shares to no more than 35 specific investors and raise no more than 6 billion yuan, of which 4.732 billion yuan was used for the development of new energy intelligent connected vehicles and the improvement of research and development capabilities, accounting for 78.87% of the total raised funds, 468 million yuan was used for channel construction projects and 800 million yuan was used to supplement working capital. On October 18, Zotye announced that the general meeting of shareholders reviewed and approved the issuance proposal.

At present, Zotye has established three intelligent new energy platform architectures, i-AFA, i-BFA and i-LFA, which can achieve the compatibility and scalability of the body, chassis, engine, electrical equipment and other architectures. Zotye can design and combine according to the R&D needs of the vehicle models. Zotye can provide a new driving experience in four aspects: intelligence, energy conservation, lightweight and safety. The products cover A00, A0, A, B and C markets.