Chuanji is unlikely to go bankrupt, and Jidu is currently in communication with 3 to 4 restructuring parties

According to domestic media reports, Xu Jiye, the former public relations head of Jiyue, stated in a social media post that Jiyue is unlikely to go bankrupt, and the Jidu board has agreed to a restructuring. Jidu is currently in communication with 3 to 4 restructuring parties.

As for Jiyue CEO Xia Yiping, he updated his Weibo account yesterday (the 6th) with posts involving blessings from former Jiyue car owners and a "Statement on User Concerns (16th Edition)" released by Jiyue in June. It mentioned that regarding parts supply, Jiyue has basically resolved the after-sales parts issues and can ensure that vehicle maintenance needs are met in a timely manner; in terms of after-sales service cooperation, Jiyue has reached an after-sales agreement with Lynk & Co, and designated Lynk & Co stores will continue to provide quality after-sales service for Jiyue owners; in terms of intelligent assisted driving OTA, there are plans to provide users with an intelligent assisted driving OTA upgrade service in the second half of this year.

Jiyue is jointly created by Baidu (09888.HK) and Geely Holding Group. Last year, there were reports that the shareholders would no longer invest, and the company was on the brink of bankruptcy, with multiple departments disbanded on-site and some stores suspending operations