Evergrande Auto's Relevant Affiliated Companies Enter Bankruptcy Reorganization

TapTechNews August 5th news, Evergrande Auto today announced in the Hong Kong Stock Exchange. On August 2nd, 2024, the relevant local people's court held a hearing on the bankruptcy reorganization of the relevant affiliated companies, and the relevant local people's court ruled that the relevant affiliated companies entered the bankruptcy reorganization process.

According to TapTechNews' previous report, on July 28th, Evergrande Auto announced in the Hong Kong Stock Exchange that the company's affiliated company Evergrande New Energy Vehicle and Evergrande Intelligent Vehicle (the relevant affiliated companies) received a notice issued by the relevant local people's court on July 26th, 2024. Individual creditors of the relevant affiliated companies applied to the relevant local people's court on July 25th, 2024 to request the bankruptcy reorganization of the relevant affiliated companies. The above notice has a significant impact on the production and operation activities of the company and the relevant affiliated companies.