EVERG VEHICLE (00708): Tianjin Subsidiary Accepted for Bankruptcy Liquidation by Court

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EVERG VEHICLE (00708) announced that China Evergrande New Energy Vehicle Group Limited has received a ruling from the Tianjin Binhai New Area People's Court. According to the ruling, the court has accepted a creditor's petition for bankruptcy and liquidation against the company's indirect wholly-owned subsidiary, Evergrande New Energy Vehicle (Tianjin) Co., Ltd. The registered capital of the relevant subsidiary is RMB 4.1 billion, and it is the registered owner of the group's manufacturing base in Tianjin, which houses smart mobility product production facilities. Production at the base has been suspended since January 2024.

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