At the beginning of August this year, more than 100 dealers of Junma automobile assembled in Yongkang, Zhejiang Province, to defend the rights of Junma Mother Company Zhongtai Automobile. The reason is that the Junma automobile factory in Changsha has stopped production because of lack of funds, resulting in no car for dealers to sell.
As the parent company of Junma Automobile, Zhongtai Automobile has recently fallen into a whirlpool of public opinion due to suspected Ping An Banks notification of bankruptcy risk investigation. In response, Zhongtai Auto issued a Clarification Announcement on October 11, saying that the companys production and operation is normal, there is no insolvency into bankruptcy proceedings.
Source: Liable Editor of China Securities News: Yang Bin_NF4368