On May 17, Human Horizons issued an "Announcement on the Working Group during the Company's Restructuring".
According to the announcement, in order to ensure the smooth progress of the company's restructuring phase, two working groups were established during the restructuring period.
First, a restructuring task force was established to be responsible for the restructuring of all operations-related activities, including but not limited to the treatment of all debts. Jack YEUNG and Amy ZHANG were appointed as team leaders:
The working group consists of four groups: shareholders led by Yang Weizi and Huang Boyang, government by AmyZHANG, suppliers by Gong Wei and Huang Boyang, and employees by Zhang Rong and Yu Jiangwu.
Second, a joint operation working group was established to be responsible for the company's daily decision-making and operation. Wei Yanqin and Shen Hong were appointed as team leaders, and the company's overall strategic planning, overall budget, and compensation system decisions must be reported to Ding Lei and JackYEUNG.
The working group has seven teams: product planning is led by Shen Honghua and Wu Qifeng; The project & design & engineering was led by Wei Yanqin and Shen Honghua, and the four core members Liu Nenghua, Chen Jun, Li Suwen and Li Qian reported to the leader; Production and supply chain led by Gong Wei and Zhang Hong; The person in charge of marketing is to be determined for the time being, and Wei Yanqin will be in charge of it temporarily; Finance is led by Tang Jun and Huang Boyang; Legal counsel was led by Tang Mingyang and Zhao Che (Leon); The manpower and integrated functions are led by Zhang Rong and Yu Jiangwu.
In addition, matters that need to be deliberated and decided by the special committee, the general meeting of shareholders and the board of directors of the company must still be deliberated and decided by the corresponding decision-making body.
According to other media reports, iAuto Group and Human Horizons officially signed a comprehensive strategic cooperation agreement on May 10, 2024, which covers a series of cooperation covering the vehicle business sector, including production cooperation to resume for the fulfillment of sales orders, equity restructuring and mergers and acquisitions, technology and R&D and engineering cooperation, brand and marketing integration at home and abroad, supply chain and manufacturing integration, and a series of cooperation covering the vehicle business sector.
According to the report, with the support of a series of resources such as funds, technology and orders from iAuto Group, Human Horizons has begun preparations for the team to resume construction and resume production. Prior to this, iAuto has received full support from the institutional investors behind it, and plans to invest more than US$1 billion in the first round of special funds to fully support the restructuring of Human Horizons Gaohe Automobile. Both parties will make every effort to complete the required compliance transaction process before the release of the 2024 semi-annual report.
Up to now, Gaohe officials have not announced relevant news about this.