Core Viewpoint - Evergrande Auto has faced significant financial distress, leading to bankruptcy proceedings for its subsidiaries and a suspension of trading on the Hong Kong Stock Exchange due to the inability to publish financial results [2][5][6]. Group 1: Bankruptcy Proceedings - The Tianjin Binhai New District People's Court has accepted a bankruptcy and liquidation application for Evergrande New Energy Vehicle (Tianjin) Co., Ltd., which has a registered capital of RMB 4.1 billion [2]. - The Shanghai Third Intermediate People's Court has appointed a manager for the bankruptcy liquidation process of Evergrande Hengchi New Energy Vehicle (Shanghai) Co., Ltd. due to the company's failure to secure funding for ongoing operations [5]. - The trading of Evergrande Auto's shares has been suspended since April 1, 2025, pending the publication of its financial results [5][6]. Group 2: Financial Performance - As of June 30, 2024, Evergrande Auto reported revenues of RMB 38.377 million, a year-on-year decrease of 75.17%, and a gross profit of RMB 2.433 million, a year-on-year decrease of 103.99% [6][7]. - The company recorded a net loss of RMB 20.257 billion, which represents a year-on-year increase in losses of 194.73% [7]. Group 3: Market Reactions - Prior to the suspension of trading, Evergrande Auto's stock price surged by 200% due to rumors of a potential acquisition of its Nansha factory by GAC Group's Huawang project, which were later denied by both parties [5]. - The board of directors acknowledged the recent increase in stock price and trading volume but stated they were unaware of any reasons for this rise beyond the disclosed information [6].
恒大汽车又一附属公司遭破产清算