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According to the information checked by enterprises, Evergrande New Energy Automobile (Guizhou) Co., Ltd. refused to perform the settlement agreement without justifiable reasons, failed to pay more than 1.04 million yuan of compensation fee for water and soil conservation and late payment fine, and was listed as the person subject to breach of trust execution by the People's Court of Xiuwen County (Laolai).

At the same time, an announcement issued by the People's Court of Guizhou Province Guiyang City Xiuwen County to Evergrande New Energy Automobile (Guizhou) Co., Ltd. shows that on January 12,2023, the court filed an application for the execution of your unit's administrative non-litigation execution case by the applicant Xiuwen County Water Affairs Administration Bureau, because your unit failed to fulfill the payment obligations determined by the effective legal documents within the period specified in the execution notice. In accordance with Article 262 of the Civil Procedure Law of the People's Republic of China and Articles 1 and 3 of the Provisions of the Supreme People's Court on Restricting High Consumption and Related Consumption of the Person Subject to Execution, this court takes measures to restrict consumption against your unit. That is to say, due to the above reasons, Evergrande New Energy Automobile (Guizhou) Co., Ltd. was applied for consumption restriction by Xiuwen County Water Administration Bureau.

It is understood that the so-called compensation fees for water and soil conservation refer to the fees that should be paid to the water administration department for starting production and construction projects or engaging in other production and construction activities in mountainous areas, hilly areas, sandstorm areas and other areas prone to soil erosion determined by the water and soil conservation plan, damaging water and soil conservation facilities and physiognomy vegetation and failing to restore the original water and soil conservation functions. In November 2020, the Water Affairs Bureau of Xiuwen County approved the Report on Water and Soil Conservation Scheme for the First Phase Construction Project of Parts of Evergrande New Energy Automobile (Guizhou) Co., Ltd. According to the information, in the early stage of the project, automobile exhibition center, intelligent automobile tower, reception center, technology exhibition center, technology center, automobile production workshop, Phase I finished product workshop, Phase II finished product workshop, shipping center, etc. will be built, with a total construction area of 406801.43 square meters (all above-ground buildings). At the later stage of the project, 62040m3 of green covering soil is required, mainly using the topsoil stripped within the scope of Phase II of the project, without additional borrow pit.

According to the enterprise check information, Evergrande New Energy Automobile (Guizhou) Co., Ltd. was established on May 17,2019, with Chen Yongjin as its legal representative and a registered capital of RMB 101 million yuan. Its business scope includes design services for automobile spare parts and maintenance tools; R & D services for vehicle engineering and energy technology; R & D of engine heat balance system and thermal management system technology; Marketing planning services; New material technology, energy-saving technology, mechanical technology, environmental protection technology promotion services; new energy vehicles, automobile parts manufacturing, etc.

According to the equity penetration chart, Evergrande New Energy Automobile (Guizhou) Co., Ltd. is jointly owned by Evergrande New Energy Automobile Investment Holding Group Co., Ltd. and Evergrande Ruibo New Energy Automobile Technology (Shenzhen) Co., Ltd., with 99.0099% and 0.9901% respectively.

It should be noted that in February last year, Evergrande New Energy Automobile (Guizhou) Co., Ltd. was forced to execute more than 1.13 million yuan due to this case. In addition, Evergrande's subsidiaries also have a number of information about the person to be executed.

On March 3, Evergrande New Energy Automobile (Tianjin) Co., Ltd. was listed as the person subject to breach of trust execution by the People's Court of Tianjin City Binhai New District for violating the property reporting system, with the involved amount of RMB 524,562.50 yuan. Up to now, there are 22 pieces of information about the executed person of the company, and the total executed amount exceeds 168 million yuan.

On the same day, Evergrande Hengchi New Energy Automobile (Shanghai) Co., Ltd. added a new piece of information about the person subject to execution, with the execution target of RMB 261,856.00 Yuan. The execution court was Guangzhou City Intermediate People's Court of Guangdong Province. Up to now, there are 9 pieces of information about the executed person of the company, and the total executed amount exceeds 282 million yuan.

In fact, since Evergrande Group announced its car building, its development has not been smooth. However, unlike most enterprises with automobile circle layout in China, Evergrande is called "RMB player" and "not short of money". Under the condition that there is no car, Xu Jiayin is confident to knock down the goal of "producing and selling 1 million vehicles in 2025 and 5 million vehicles in 2035". In November 2019, Xu Jiayin announced that he would invest heavily in building cars, investing 45 billion yuan in the future, including 20 billion yuan in 2019, 15 billion yuan in 2020 and 10 billion yuan in 2021. In December 2019, at the signing ceremony of Evergrande's global strategic cooperation, Xu Jiayin also called 206 automobile industry leaders and more than 1100 automobile industry chain executives. When dozens of meters long signing cooperation document table was moved to the stage, The real estate and auto circles were all shocked.

On August 3,2020, Evergrande launched six brand-new models, namely Hengchi 1, Hengchi 2, Hengchi 3, Hengchi 4, Hengchi 5 and Hengchi 6, to shock the automobile circle and realize full coverage of the product line. On February 10,2021, Evergrande Automobile further released Hengchi 7, Hengchi 8 and Hengchi 9 models to enrich Evergrande's product line. So far, Hengchi's product matrix has been expanded to nine models.

However, Evergrande's first mass-produced model "Hengchi 5" was not officially pre-sold until July 6,2022. Only one model was launched for the new car. The pre-sale price of the luxury version was 179,000 yuan. As the first model of Hengchi brand, Liu Yongzhuo, president of Hengchi New Energy Automobile Group, repeatedly built momentum for the new car, calling it the best pure electric SUV within 300,000 yuan. Liu Yongzhuo said that Hengchi 5 adopts parts from top manufacturers in the supply chain, including Bosch, Daliu, Ambofu, Ningde Times and many other well-known supply chain enterprises have participated in the production process of Hengchi 5.

However, ideal is very plump, reality is very skinny. According to the official statement, orders for new car pre-sale in only 15 days have exceeded 37,000 vehicles, and it is expected that the delivery of the first batch of 10,000 vehicles will be completed before the first quarter of 2023. For this reason, Liu Yongzhuo praised after the new car pre-sale conference: "Hengchi 5 market reaction is very good, better than expected, from the current point of view, Hengchi sold well has become a certainty." However, by the end of 2022, according to the data of compulsory insurance for new vehicles, only 519 vehicles have been delivered accumulatively in 2022 since the launch of new vehicles, which is far from the expected delivery quantity. As the sales volume of Hengchi 5 after listing fails to meet the market expectation, Evergrande Automobile has to start a series of cost reduction and efficiency increase.

In the matter of car building, although Evergrande has always given the feeling of "rich and powerful", Evergrande has been in a state of loss and is constantly expanding its losses. According to the annual report data of Evergrande Automobile, Evergrande Automobile lost RMB 1.429 billion yuan, RMB 4.426 billion yuan and RMB 7.394 billion yuan respectively during 2018-2020, and RMB 4.787 billion yuan in the first half of 2021. The accumulated loss in less than four years has exceeded RMB 17 billion yuan. Since then, Evergrande Automobile has not disclosed the annual report to the public, and has been suspended on the Hong Kong Stock Exchange.

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