AutoBeta(AutoBeta.net)09/25 Report--

By the close of trading on the 25th, China Evergrande fell 9.46% to HK $13.78, and Evergrande Motor fell 12.76% to HK $16.82.

Yesterday, a document circulated on the Internet, China Evergrande issued an urgent solemn statement to refute the rumors: "recently, rumors about the restructuring of our company have spread on the Internet, and the relevant documents and screenshots are fabricated and purely defamatory. Cause serious damage to the company's goodwill. The company strongly condemns that it has reported the case to the public security organs and resolutely used legal weapons to safeguard the legitimate rights and interests of the company. "

Although Evergrande Group issued an emergency statement to refute rumors that it opened low and left high in early trading, with the highest increase of more than 6%, due to the continued fermentation of intraday news, the highest decline was more than 14%, and finally fell 9.46% to 13.78 Hong Kong dollars. In addition, Evergrande real estate bonds closed down sharply, "19 Evergrande 02" fell more than 30%, two stops in intraday trading; "20 Evergrande 01" fell more than 27%, "19 Evergrande 01" fell more than 21%, 15 Evergrande 03 "fell more than 17%.

In other related markets, affected by online news, Evergrande fell more than 20% in intraday trading, closing down 12.76% at HK $16.82.

On July 27th, Evergrande Health announced that the company had changed its name to "Evergrande Automobile"; on August 3, Evergrande New Energy "Evergrande" brand released six models at one time, covering four major areas of cars, SUV, MPV and crossover vehicles; on September 13, Evergrande announced that it planned to sell all shares of two subsidiaries to Jinbi property, with a total consideration of 475.411 billion yuan. Evergrande announced that its board of directors decided to issue RMB shares and list Science and Technology Innovation Board on the Shanghai Stock Exchange.

According to the interim report, Evergrande's operating income in the first half of the year was 4.51 billion yuan, an increase of 70% over the same period last year, while the net loss was 2.457 billion yuan, compared with a loss of 1.984 billion yuan in the same period last year. Since it was announced to enter the automobile field in 2018, the cumulative loss of Evergrande's automobile business has reached nearly 6.3 billion yuan.

The auto business still needs continuous blood transfusions from Evergrande. Evergrande Group previously disclosed that it is expected to invest a total of 29.4 billion yuan in the automotive business, mainly in equity acquisition, base construction, research and development, equipment, and so on. After Evergrande cars are mass produced and sold, the group will no longer have investment.

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