Evergrande Automobile (00708) resumed trading and opened higher, its share price rose 8420jilicom.21%, currently quoted at HK$0.70, with a turnover of HK$132.6 million.

Evergrande Motor announced late yesterday that the company had 3.145 billion potential shares for sale (accounting for all issued shares)20jilicomapproximately 29.0%) will be acquired immediately, and 3.203 billion potential sale shares (accounting for approximately 29.5% of all issued shares) will become the subject of an exercisable option by the potential buyer within a certain period after the date of the sale and purchase agreement. The announcement stated that potential buyers (or another party designated by them with the company's consent) will provide credit to the company to support the Group's continued operation and development of the Group's electric vehicle business.

Evergrande Automobile said that at present, the group is seriously short of funds. The Group's Tianjin factory has no longer been in production since the beginning of this year. As of the date of the announcement, the Group's Tianjin factory has not resumed production. As of December 31, 2023, Evergrande Motors has delivered a total of more than 1389 vehicles. Evergrande New Energy Vehicle (Tianjin) Co., Ltd. officially launched mass production in September 2022. As of December 31, 2023, a total of Hengchi 5 vehicles have been produced. 1700 vehicles.