Summary by Futu AI
China Hengda New Energy Automobile Group Co., Ltd. (“Hengda Automobile”) recorded a loss of RMB11,995 million in 2023, a decrease of approximately 53% compared to 2022. Despite this, the company faced liquidity pressure and on January 29, 2024, its holding company, Hengda Group of China, was ordered to liquidate by the High Court of Hong Kong. HENGDAI AUTOMOBILE'S MAIN BUSINESS INCLUDES R&D, PRODUCTION AND SALES OF NEW ENERGY VEHICLES, AS WELL AS PROPERTY DEVELOPMENT. In 2023, the company's revenue was RMB1,340 million, mainly from sales of new energy cars and properties. As of 31 December 2023, the company had total assets of RMB34,851 million and total liabilities of RMB72,543 million. The Company sold its health management business during the reporting period and reclassified it as a discontinued business.