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crashbandicootpopvinyl| Evergrande Automobile Announcement! Resumption of trading tomorrow

editor 2024-05-27 22 0

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On the evening of May 26, Evergrande Automobile issued an announcement, 31crashbandicootpopvinyl4.5 billion potential shares for sale (accounting for approximately 29% of all outstanding sharescrashbandicootpopvinyl0%) will be acquired immediately, and 3.203 billion potential sale shares (accounting for approximately 29.5% of all issued shares) will become the subject of an exercisable option by 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.

crashbandicootpopvinyl| Evergrande Automobile Announcement! Resumption of trading tomorrow

It is reported that the company's joint and individual liquidators, on behalf of China Evergrande Group (in liquidation), Evergrande Health Industry Group Co., Ltd., and Acelin Global Limited (collectively referred to as the potential sellers), entered into a term letter with a third-party buyer (potential buyer) who is independent of the company and its connected persons to the best of the company's directors 'knowledge, knowledge and belief after making all reasonable inquiries, pursuant to which the potential seller and the potential buyer may enter into a final sale and purchase agreement for the purchase and sale of the company's shares held by the potential seller.

The announcement also shows that potential buyers (or another party designated by them with the company's consent) will provide credit to the company to support the Group's continued operation and development of the Group's electric vehicle business. At present, the group is seriously short of funds. The Group's Tianjin factory has no longer been in production since the beginning of this year. As of the date of this announcement, production has not yet resumed at the Group's Tianjin factory.

Just on May 22, Evergrande Automobile issued an announcement. Recently, its subsidiary Evergrande New Energy Vehicle Investment Holding Group Co., Ltd. was 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.

At present, the situation of Evergrande Automobile has attracted great attention from the market. In April this year, Evergrande Motor announced that Newton Group's strategic investment had failed. Evergrande Automobile 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 continue to promote the research and development of new platforms and new models based on market demand.

Evergrande Automobile previously released its 2023 full-year report on the Hong Kong Stock Exchange, showing that Evergrande Automobile's turnover in 2023 was 1.34015 billion yuan, a year-on-year increase of 900.04%. The increase in revenue was mainly due to the increase in sales of automobiles and auto parts from 60.63 million yuan as of 2022. To 146.32 million yuan in the reporting period; revenue from property sales increased by 1.136.37 billion yuan. In addition, Evergrande Motor lost 11.995 billion yuan during the reporting period.

As of the suspension, Evergrande Motors had a total market value of HK$4.121 billion.