Core Viewpoint - Evergrande Auto has announced that its related subsidiaries have entered bankruptcy reorganization procedures, with a manager appointed to oversee the control, management, and operation of these subsidiaries [1] Group 1: Bankruptcy Reorganization - The bankruptcy reorganization plan has been approved by the relevant local people's court, resulting in the cancellation of the group's equity in the related subsidiaries [1] - The equity of the related subsidiaries has been registered under Guangzhou Juliy Modern Industry Development Co., Ltd. as of November 18, 2025 [1] - The group did not receive any cash consideration as a result of the plan and the change in shareholders [1] Group 2: Financial Details - As of June 30, 2024, the registered capital of New Energy Vehicles Guangdong was RMB 5 billion, with total creditor claims amounting to approximately RMB 7.622 billion and assessed liquidation assets valued at approximately RMB 1.373 billion as reported on April 7, 2025 [1] - As of June 30, 2024, the registered capital of Smart Cars Guangdong was RMB 2.5 billion, with total creditor claims amounting to approximately RMB 5.253 billion and assessed liquidation assets valued at approximately RMB 1.082 billion as reported on April 7, 2025 [1] Group 3: Ownership Structure - Guangzhou Juliy is wholly owned by six provincial or local state-owned enterprises and is a third party unrelated to the company [1]
恒大汽车：广州聚力由6家中国省级或地方国有企业全资拥有