Court Accepts Bankruptcy Petition Against Evergrande NEV Subsidiary

Reuters
Yesterday
Court Accepts Bankruptcy Petition Against Evergrande NEV Subsidiary

China Evergrande New Energy Vehicle Group Limited has announced that a court in Tianjin has accepted a creditor's petition for bankruptcy and liquidation against its indirect wholly-owned subsidiary, Evergrande New Energy Vehicle (Tianjin) Co., Ltd. The subsidiary, which owns the Group's manufacturing base in Tianjin, has had its production suspended since January 2024. Trading in the shares of the Company on the Hong Kong Stock Exchange remains suspended pending the publication of outstanding financial results and the fulfilment of resumption conditions. Shareholders and investors are advised to exercise caution when dealing in the Company's securities.

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