Zotye Auto's stock price hit the daily limit of ¥1.84 per share, bringing the total market capitalization to ¥9.278 billion. The company's securities representative stated that the stock surge was a spontaneous market reaction and not directly linked to the recent election of three non-independent directors during a shareholder meeting.
The automaker plans to launch a new vehicle model within this year, although the company noted that this remains a plan. Development of the new self-developed model is reportedly progressing steadily.
According to the 2026 semi-annual report released on August 28, Zotye Auto recorded revenue of ¥190 million, a 32.08% decrease year-on-year. However, the company achieved a net profit of ¥80.39 million, compared to a loss of ¥148 million in the same period last year, representing a growth of 154.36% and a return to profitability.
The company is currently focusing on resuming production and reducing costs. Revenue during the reporting period was primarily derived from auto parts and door systems. Zotye is also accelerating the development of new energy vehicle models and platform layout to prepare for large-scale production recovery.
Regarding the new model, the design was finalized by the end of June. Engineering data has been released, and most supplier appointments have been completed. Component and vehicle testing are currently underway, with the overall project progress meeting expectations.
Factory production line renovation and maintenance have fully started. The design of self-made molds and fixtures has begun, with some already in the manufacturing stage. Product and process collaborative verification has officially started to prepare for mass production.
