Caixin

Baoneng auto unit defaults on $434m trust loan

Debt woes mount for Yao Zhenhua's new-energy vehicle company

ZHOU MI, WANG JING and HAN WEI, Caixin
October 13, 2021 13:05 JST

Shenzhen-based Baoneng Investment Group missed repayments on yet another debt to finance its unrealized automaking dream, underscoring the deepening capital crunch of the once-highflying private conglomerate.

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