Shanghai (ZXZC)- On June 5th, Hozon New Energy Automobile Co., Ltd. ("Hozon Auto"), the parent company of NETA Auto, signed a comprehensive cooperation agreement with China CITIC Bank Shanghai Branch and CITIC Securities Shanghai Branch, according to a post on NETA Auto's WeChat account.

Photo credit: NETA Auto

Under the agreement, NETA Auto will engage in extensive cooperation with China CITIC Bank Shanghai Branch and CITIC Securities Shanghai Branch, including assisting NETA Auto in preserving and increasing its asset value and providing comprehensive financial solutions that cover supply chain financing, investment management, and international settlements.

NETA Auto stated that the signing of the comprehensive cooperation agreement demonstrates the confidence of China CITIC Bank Shanghai Branch and CITIC Securities Shanghai Branch in the prospects of the new energy vehicle industry. It also highlights their strong recognition of NETA Auto's corporate strength.

Since its establishment in 2014, Hozon Auto has independently developed many intelligent and safe automotive platforms and technologies such as the Shanhai platform, the third-generation skateboard chassis platform, and the Haozhi technology brand, promoting the continuous evolution of intelligent electric vehicles. Currently, it has rolled out models including the NETA S, NETA GT, and NETA L, and is committed to simultaneous development of domestic and international markets.

An executive from China CITIC Bank Shanghai Branch stated, "We will leverage the comprehensive advantages of China CITIC Bank and CITIC Securities, with dedicated resources and an efficient professional service team, to actively support NETA Auto in wealth management. We will provide comprehensive financial service solutions, including supply chain financing, investment management, international settlements, and cash management, in line with NETA Auto's domestic and international market expansion."