Which car will be "resurrected"? And the company that tried to help him "come back from the dead" is called Taiyi Holy Lotus! Will mythology become a reality in today's world? The actual situation is not so simple. On September 11, the fourth creditors' meeting of the bankruptcy and reorganization of Hezhong New Energy Automobile Co., Ltd. (hereinafter referred to as "Hezhong New Energy") was held in the form of a network. The "Reorganization Plan (Draft)" voted at the meeting disclosed for the first time the reorganization investor - Zhejiang Taiyi Shenglian Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Taiyi Shenglian"). According to the draft of the online media report, Taiyi Shenglian intends to invest 3 billion yuan, acquire about 70.62% of the equity of Hezhong New Energy, and become the controlling shareholder. The draft still needs to be voted by creditors and approved by a court ruling, so there is a possibility that it cannot be landed. According to the industrial and commercial registration information, Taiyi Shenglian was registered and established on April 21, 2026, which is an investment entity set up for this reorganization. The total amount of subscribed capital is RMB 3.001 billion, which has not yet been paid. It was formed by Zhejiang Shanzi Holdings Co., Ltd. (99.9667% shareholding) in partnership with Zhejiang Shanzi Yuxu Technology Co., Ltd. (0.0333% shareholding, executive partner). The former is controlled by Ye Wei, chairman of Shanzi Hi-Tech, a listed company on the Shenzhen Stock Exchange, and the latter is controlled by Yu Shuxin, director of Shanzi Hi-Tech. In other words, Taiyi Shenglian is actually operated by Shanzi Hi-Tech, but it belongs to the investment carrier built by the listed company in vitro - Shanzi Hi-Tech has clarified many times that the listed company itself does not participate in this reorganization investment, does not merge tables, and the success or failure of the reorganization is not directly included in the listed company's statement. In terms of capital use, of the 3 billion yuan, 1.167 billion yuan was used to pay off claims and bankruptcy expenses, and the remaining 1.833 billion yuan was used to supplement working capital. In terms of debt, the general debt of Hezhong New Energy is about 11.7 billion yuan (more than 1,600 households): the partial repayment rate of less than 800,000 yuan is about 12%, 10,000 yuan is paid first within one year, and the balance is paid off in two years; more than 800,000 yuan is partially converted into debt. In addition, there are preferential debts of about 2.2 billion yuan, only interest is paid in the first three years, and the principal is repaid from the fourth year. The business plan is promoted in three stages: the first stage is the resumption of production of the Noren X model, which is mainly for overseas markets, with a target annual sales volume of 10,000 units. The management said that "some intended orders have been obtained at present"; at the same time, the upstream supply chain cooperation confidence has been rebuilt, the official spare parts supply has been ensured, the after-sales maintenance of the "Noren" car has been fully restored, and the existing service network has been activated. The second phase focuses on launching models suitable for Asia, Africa, Latin America and other regions, with a target of 300,000 units per year. The third phase plans to build a global smart car model, striving for an annual output value of 40 billion yuan, and start IPO preparations. It is worth noting that Shanzi Hi-Tech has been involved in the restructuring for a long time: in June 2025, it was confirmed as a strategic investor in United New Energy and became the only qualified restructuring intention party in September of the same year. At that time, it threw out a 4.5 billion yuan restructuring plan (corresponding to the debt settlement rate of 18.7%, which was rejected by the core supplier creditors). At the end of 2025, Shanzi Hi-Tech was selected as the operation management trustee and paid a margin of 50 million yuan, once taking over the daily operation of Nanzi Automobile. However, in March 2026, due to the failure of the original reorganization plan to submit it on schedule, the Tongxiang court ruled to terminate the original reorganization process, and United New Energy was once transferred to bankruptcy liquidation, and the 4.5 billion yuan plan was cancelled. In April 2026, Taiyi Shenglian was registered, and the investment plan was reduced to 3 billion yuan. Founded in 2014, the first model N01 was launched in 2018, focusing on the people-friendly transportation market; 152,000 vehicles were delivered in 2022, peaking at the top of the sales list of new car-making forces. However, there are many hidden dangers under high light: the gross profit margin in 2021-2023 is continuously negative, with a cumulative net loss of about 18.3 billion yuan, and a total of 22.844 billion yuan in 10 rounds of financing has been exhausted. Since then, sales have declined all the way (only 64,500 in 2024, and only 110 in January 2025), wage arrears, production suspension, and dealer withdrawal from the network have erupted, and in June 2025, the court ruled to accept bankruptcy reorganization. In terms of prospects, there are still multiple doubts in the market: first, 3 billion yuan is only a "cup salary", and it is currently in the status of subscription, and the actual payment is questionable; second, the reorganization draft still needs to be voted by creditors and ruled by the court; third, the overseas market faces multiple thresholds such as local regulations, channels, and competing products, and it takes time to rebuild the supply chain and resume factory production. Some creditors analyzed the media, and it is likely that the reorganization plan will be passed, but whether to restart mass production still depends on many factors such as paid-in funds and capacity integration. In mythology, Taiyi Daoist used lotus flowers to reshape his body; in reality, the entry of "Taiyi Holy Lotus" gave him a chance to restart his car. But the capital is only the foundation. The success of the restructuring does not mean that the company is profitable. The supply chain repair, overseas landing, and continuous profit testing are heavy. Whether the automobile can truly complete Nirvana still has a long way to go. (Compiled by Automobile House Yue Changxing).