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on september 8, it was reported that evergrande auto recently announced on the hong kong stock exchange thatindividual creditors of the company's subsidiary evergrande hengchi new energy vehicle (shanghai) co., ltd. applied to the relevant local people's court for bankruptcy liquidation of the relevant subsidiary.

evergrande auto stated that the production and operation activities of the relevant subsidiaries are currently at a very low level, so the above matters have not had a significant impact on the company's production and operation activities.

currently, the group is considering defending against the creditors' application and the company has applied to the stock exchange to resume trading of the company's shares from 9:00 a.m. on september 6.

tianyancha data shows that the applicant for hengchi automobile's bankruptcy liquidation is chint electric co., ltd., and the court of jurisdiction is the shanghai no. 3 intermediate people's court.

it is worth noting that the 2023 financial report data previously disclosed by evergrande auto showed that as of the end of last year,evergrande auto’s cumulative losses have reached 110.841 billion yuan, of which the loss in 2023 was about 12 billion yuan.

the 2024 first-half financial report shows that the company achieved revenue of 38.38 million yuan in the first half of this year, a decrease of 75.17% compared with 154 million yuan in the same period last year. the decrease in revenue was mainly due to the decrease in sales of hengchi 5; the net loss was 20.256 billion yuan.

as of june 30, 2024,evergrande auto has total assets of 16.369 billion yuan, total liabilities of 74.35 billion yuan, and has delivered more than 1,429 new energy vehicles.

currently, evergrande auto is burdened with huge debts, and there is no clear news about the financial assistance that the market expects, and the possibility of the company turning around its predicament is becoming increasingly smaller.