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According to the National Enterprise Credit Information publicity system, on May 31, Evergrande New Energy vehicle Investment holding Group Co., Ltd. (hereinafter referred to as "Evergrande New Energy Investment") was listed on the abnormal operation list by the Guangzhou Nansha District Market Supervision Bureau because "the registered residence or place of business cannot be contacted".

According to public data, Evergrande New Energy Automobile Investment holding Group Co., Ltd. was established in January 2019. it was formerly known as Evergrande National Energy New Energy Automobile Investment holding Group Co., Ltd., and the legal representative of the company is Liu Weisheng. The registered capital and paid-in capital of the enterprise are 3.5 billion US dollars. According to shareholder information, the company is jointly owned by Evergrande New Energy vehicle Holdings (Hong Kong) Co., Ltd. and Evergrande Hengchi New Energy vehicle (Guangdong) Co., Ltd., with a shareholding ratio of 99.4% and 0.6%, respectively.

At present, Evergrande's new energy investment is fraught with lawsuits, and there are a number of restrictions on consumption orders, people who break their promises, the information of the final case, and so on. As of the press release, Evergrande New Energy Investment hearing notice for 109, of which a total of 16 court dates from June 5 to September 24, most of the cases are service contract disputes, contract disputes and bill disputes. In addition, the company has a total of 118 pieces of information about the person subject to execution, with a total amount of 2.133 billion yuan; 13 cases of breach of trust, accounting for 100% of the total amount of non-performance; 15 final cases, with a total amount of 91.0419 million yuan; 26 consumption restriction orders; and 11 equity freeze information.

As a car builder, Evergrande is having a hard time. On April 5, Evergrande announced that the strategic investment of Newton Group was terminated, and no further progress had been made in the previously proposed transaction and the revision of the terms of the debt-to-equity swap. As a result, Evergrande's $500m (3.55 billion yuan) investment ended in failure, which also means that Evergrande's hope to turn around through the "Middle East tycoon" has failed.

Evergrande Motor said in an announcement on May 22nd that its subsidiary Evergrande New Energy Automobile Investment holding Group Co., Ltd. recently received a letter from the relevant local administrative departments asking the local government to rescind the investment cooperation agreement. and return various awards and subsidies totaling about 1.9 billion yuan, and the relevant subsidiaries are jointly and severally liable. On May 26th, Evergrande announced that about 3.145 billion shares (29% of the total issued shares) will be purchased immediately, while another 3.203 billion shares (29.5% of the total issued shares) will be available to potential buyers for some time in the future.

As of press time, it is not clear who will become Evergrande's "white knight". Then there were rumors in the market that Xiaomi planned to buy Evergrande, but the news was quickly denied by Xiaomi officials. "Xiaomi has never had any plans or actions to acquire or control Evergrande," a spokesman for Xiaomi clarified on Weibo on May 30. "

At present, Evergrande is seriously short of funds. According to the financial report, Evergrande's total revenue in 2023 was 1.34 billion yuan, of which more than 1.1 billion yuan came from property sales, with an annual loss of 11.995 billion yuan. By the end of December 2023, Evergrande had total assets of 34.851 billion yuan and total liabilities of 72.543 billion yuan, which was seriously insolvent and faced with great financial pressure.

After entering 2024, with the intensification of competition in the automobile market, the industry has entered the link of survival of the fittest, and the market share is gradually concentrated to the head automobile enterprises. People in the industry expect that the competition pattern of enterprises in the automobile market will gradually become clear by 2025 or 2026. So far, Evergrande has only one production model, Hengchi 5. Data show that by the end of last year, a total of 1700 Hengchi 5 cars had been produced. It is understood that Evergrande said in an announcement issued on May 26 that the Tianjin plant has stopped production since the beginning of this year and has not yet resumed production.

This year is defined as a critical period for auto companies to sweep the sand, as well as a key year for new energy car companies to gain a foothold. For Evergrande, which is losing a lot of money, in such a competitive market, Evergrande with heavy load will face more pressure if it can not get the assistance of "mysterious pickup Man" quickly.

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