Source: Securities Times.
Author: Roman. Today, the Hong Kong stock Evergrande series suddenly rose, as of press time, it rose more than 35%, and once rose more than 45%. Evergrande Properties (06666.HK) rose more than 11%. As for the reason for the rise, Securities Times reporter has asked Evergrande for inquiries, and so far no response.
Please use your Futubull account to access the feature.$EVERG VEHICLE (00708.HK)$In 2023, the company's overall sales volume of 18,000 kiloliters, +28.10% year-on-year, significant growth. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively. Today, the weather is good. The weather is good today.$EVERG SERVICES (06666.HK)$Up more than 11%.
As for the reason for the rise, Securities Times reporter has asked Evergrande for inquiries, and so far no response.
On May 27th, Evergr vehicle resumed trading, and the stock price rose by over 100% in the session. As of the close of the day, it reported at HKD 0.71, with a gain of 86.84%. Since then, the company's stock price has continued to decline, and as of the close of the most recent trading day, the cumulative decline has reached 22.37%.
Earlier, Evergrande Auto announced that 29% of the company's shares will be acquired.
On May 26, Evergrande Auto announced that 29% of the company's shares would be acquired immediately. It is reported that the potential sellers and potential buyers jointly and individually represented China Evergrande Group (in liquidation), Evergrande Health Industry Group Co., Ltd., Acelin Global Limited (referred to as potential sellers) and a third-party buyer (potential buyer) who, according to all reasonable inquiries and knowledge, and independently from the company and its affiliated persons, has negotiated a terms sheet. Based on this, a potential seller and a potential buyer may enter into a final sale and purchase agreement for the sale of the potential seller's shares in the company.
Specifically, the potential seller jointly holds 6.348 billion shares of Evergrande Auto (accounting for approximately 58.5% of the total shares issued) (potential shares to be sold), and after the purchase and sale agreement is signed, 3.145 billion potential shares to be sold (approximately 29% of the total issued) will be acquired, and the remaining 3.2 billion shares (approximately 29.5% of the total issued) will become the target of a possible option exercise by the potential seller within a certain period after the date of the purchase and sale agreement.
The terms and agreements also reveal that the potential buyer will provide a loan to the company to support the continued operation and development of the company's electric vehicle business. Evergrande Auto acknowledges that the company is currently severely short of funds, and the Tianjin factory has stopped production since the beginning of this year.
Ordered to return 1.9 billion yuan in subsidies. On the evening of May 22, Evergrande Auto announced that its subsidiary, Evergrande New Energy Vehicle Investment Holding Group Co., Ltd., recently received letters from relevant local administrative departments requesting the cancellation of a series of investment cooperation agreements signed earlier and the return of all rewards and subsidies totaling about 1.9 billion yuan.
According to Evergrande Auto's financial report, the 'deferred income' government subsidy portion in the annual report in recent years has subsidy funding data of 0 yuan, 1.363 billion yuan, 1.194 billion yuan, 409 million yuan and 0 yuan respectively from 2018 to 2022. It can be seen that after signing the cooperation agreement with local governments in 2019, Evergrande Auto's government subsidy funding has risen sharply, and it has returned to zero after the subsequent debt crisis.
On the evening of March 27, Evergrande Auto disclosed its 2023 financial report. The financial report shows that as of December 31, 2023, Evergrande Auto's cumulative loss had reached 110.841 billion yuan, of which the loss in 2023 was about 12 billion yuan. As of the end of 2023, Evergrande Auto's total assets were 34.851 billion yuan, total liabilities were 72.543 billion yuan, of which borrowings were 26.484 billion yuan; at the same time, Evergrande Auto's cash and cash equivalents were only 129 million yuan, far from enough to cover borrowings.
Evergrande Auto's financial report shows that in the 'deferred income' government subsidy portion in the annual report, government subsidy funding data for 2018, 2019, 2020, 2021 and 2022 were 0 yuan, 1.363 billion yuan, 1.194 billion yuan, 409 million yuan, and 0 yuan, respectively. It can be seen that after signing the cooperation agreement with local governments in 2019, Evergrande Auto's government subsidy funding has risen sharply, and it has returned to zero after the subsequent debt crisis.
Author: Roman. Today, the Hong Kong stock Evergrande series suddenly rose, as of press time, it rose more than 35%, and once rose more than 45%. Evergrande Properties (06666.HK) rose more than 11%. As for the reason for the rise, Securities Times reporter has asked Evergrande for inquiries, and so far no response. In 2023, the company's overall sales volume of 18,000 kiloliters, +28.10% year-on-year, significant growth. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively. Today, the weather is good. The weather is good today. Earlier, Evergrande Auto announced that 29% of the company's shares will be acquired. On May 26, Evergrande Auto announced that 29% of the company's shares would be acquired immediately. It is reported that the potential sellers and potential buyers jointly and individually represented China Evergrande Group (in liquidation), Evergrande Health Industry Group Co., Ltd., Acelin Global Limited (referred to as potential sellers) and a third-party buyer (potential buyer) who, according to all reasonable inquiries and knowledge, and independently from the company and its affiliated persons, has negotiated a terms sheet. Based on this, a potential seller and a potential buyer may enter into a final sale and purchase agreement for the sale of the potential seller's shares in the company. The terms and agreements also reveal that the potential buyer will provide a loan to the company to support the continued operation and development of the company's electric vehicle business. Evergrande Auto acknowledges that the company is currently severely short of funds, and the Tianjin factory has stopped production since the beginning of this year. Ordered to return 1.9 billion yuan in subsidies. On the evening of May 22, Evergrande Auto announced that its subsidiary, Evergrande New Energy Vehicle Investment Holding Group Co., Ltd., recently received letters from relevant local administrative departments requesting the cancellation of a series of investment cooperation agreements signed earlier and the return of all rewards and subsidies totaling about 1.9 billion yuan. According to Evergrande Auto's financial report, the 'deferred income' government subsidy portion in the annual report in recent years has subsidy funding data of 0 yuan, 1.363 billion yuan, 1.194 billion yuan, 409 million yuan and 0 yuan, respectively from 2018 to 2022. It can be seen that after signing the cooperation agreement with local governments in 2019, Evergrande Auto's government subsidy funding has risen sharply, and it has returned to zero after the subsequent debt crisis. On the evening of March 27, Evergrande Auto disclosed its 2023 financial report. The financial report shows that as of December 31, 2023, Evergrande Auto's cumulative loss had reached 110.841 billion yuan, of which the loss in 2023 was about 12 billion yuan. As of the end of 2023, Evergrande Auto's total assets were 34.851 billion yuan, total liabilities were 72.543 billion yuan, of which borrowings were 26.484 billion yuan; at the same time, Evergrande Auto's cash and cash equivalents were only 129 million yuan, far from enough to cover borrowings.
Editor / jayden