On November 27th, simultaneous updates were made to the National Enterprise Credit Information Publicity System and Tianyancha, revealing that Zhimaxing (Wenzhou) New Energy Vehicle Sales Co., Ltd. had been officially registered and established, boasting a registered capital of 200 million yuan. This new entity is entirely funded by WM Motor Manufacturing Wenzhou Co., Ltd., with Liu Yanming appointed as its legal representative.

The company's business scope encompasses the sales of complete vehicles, electrical accessories, and battery swap facilities. This move signifies WM Motor's first channel-end deployment in the form of an independent legal entity following its judicial restructuring.

Shareholder details indicate that the company is a wholly-owned subsidiary of WM Motor Manufacturing Wenzhou Co., Ltd.

The industry views the establishment of this new sales company as a pivotal step in WM Motor's 'revival' strategy.

Earlier this month, WM Motor's official WeChat public account teased an upcoming announcement with a poster stating, "Exciting news is on the horizon. Stay tuned!" On the same day, the owner service app 'Xiaowei Suixing' made a comeback on the iOS and Android app stores, with restored features such as Bluetooth key and remote vehicle control, marking a comprehensive resumption of its operational chain.

According to the restructuring plan sanctioned by the Shanghai Third Intermediate People's Court on April 3rd, Shenzhen Xiangfei Automobile Sales Co., Ltd., serving as the restructuring investor, has assumed control of four WM Motor companies. It has pledged an initial investment of around 1 billion yuan for equipment upgrades and supply chain rehabilitation. WM Motor's 'White Paper for Suppliers' released on September 6th disclosed that the Wenzhou base recommenced production of its two top-selling models, EX5 and E5, in September. The company aims to manufacture and sell at least 10,000 units, striving for 20,000 units by 2025, and reaching full production capacity of 100,000 units by 2026, corresponding to revenue of nearly 10 billion yuan.

Additional industrial and commercial data reveals that through acquisitions of Dalian Huanghai and Zhongshun Automobile around 2018, WM Motor has secured comprehensive qualifications for manufacturing both fuel-powered and new energy passenger and commercial vehicles.

The creation of a separate sales legal entity not only preserves avenues for the subsequent introduction of diversified capital but also establishes a clear separation at the channel level from emerging ventures such as commercial vehicles and battery swapping. This aligns with the 'differentiated operation by brand' strategy outlined in the restructuring plan.