Peng Pai Xin Wen·2025-03-27 00:32Core Viewpoint - Evergrande Auto has acknowledged a significant increase in its stock price and trading volume but claims to be unaware of the reasons behind this surge, especially in light of its subsidiary's bankruptcy proceedings [3]. Group 1: Company Developments - On March 26, Evergrande Auto's stock rose by 74.79%, with intraday gains exceeding 230% [3]. - The company confirmed that it received a court ruling on March 17, 2025, regarding the bankruptcy liquidation application for its wholly-owned subsidiary, Evergrande Hengchi New Energy Automobile (Shanghai) Co., Ltd. [3]. - Guangzhou Automobile Group (GAC) issued a clarification stating that it has never engaged in discussions regarding the acquisition of Evergrande Auto's Nansha factory, countering rumors circulating online [3]. Group 2: Industry Context - GAC announced on January 10 that it would collaborate with Huawei to establish a new company, GH, focusing on product development and marketing strategies for a new luxury smart electric vehicle brand [4]. - A new company, Huawang Automobile Technology (Guangzhou) Co., Ltd., was established by GAC in Nansha on March 18, indicating further advancements in GAC's high-end smart vehicle strategy [4]. - The Nansha site was previously acquired by Evergrande for 364 million yuan in April 2018, designated for electric vehicle manufacturing [5].