fowlplaygold| Evergrande Automobile: 29% of shares will be acquired immediately

editor2024-05-26 23:35:195News

IT Home May 26 Newsfowlplaygold, Evergrande Automobile announced on the Hong Kong Stock Exchange, 31fowlplaygold.45 million potential sale shares (approximately 29.0% of all issued shares) will be acquired immediately, and 3.203 billion potential sale shares (approximately 29.5% of all issued shares) will become an exercisable option for the potential buyer within a certain period after the date of the sale and purchase agreement. The Company will apply to the Stock Exchange to resume trading in the Company's shares on the Stock Exchange starting from 9:00 a.m. on May 27, 2024.

On the evening of May 22, Evergrande Automobile also issued an announcement stating that its subsidiary Evergrande New Energy Vehicle Investment Holding Group Co., Ltd. was recently requested by relevant local governments to terminate the investment cooperation agreement and refund the various awards and subsidies issued totaling approximately 1.9 billion yuan. In April this year, Evergrande Motor announced that Newton Group's strategic investment had failed.

fowlplaygold| Evergrande Automobile: 29% of shares will be acquired immediately

According to information from IT Home, since its establishment in 2019, Evergrande Automobile has accumulated losses of more than 100 billion yuan, and as of the end of last year, it has delivered more than 1389 vehicles. Last year, Evergrande Motor's total revenue was 1.34 billion yuan, but the main revenue came from property sales; the annual loss reached 11.995 billion yuan, narrowing year-on-year.

Previously, Evergrande Automobile admitted that it was facing financial difficulties, and the company stated that it would go all out to attract strategic investors to actively raise funds to maintain the group's survival and future development plans; whether the company can continue to operate will depend on the group's ability to generate sufficient financing and operating cash flow through the following aspects, and to successfully implement and complete business and operational restructuring plans and financing plans. Evergrande Motor said that with the introduction of strategic investors and the availability of funds, it plans to continue to promote the development, verification and mass production of Hengchi 5 annual models and modifications, Hengchi 6 and Hengchi 7. At the same time, it will also follow market demand., continue to promote the research and development of new platforms and new models.

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