AutoBeta(AutoBeta.net)11/13 Report--

Evergrande New Energy vehicle Investment holding Group Co., Ltd. added an equity freeze message to Evergrande New Energy vehicle (Jiangsu) Co., Ltd., freezing the equity amount of 30 million US dollars for a period of three years. From November 11, 2024 to November 10, 2027, the executive court is the people's Court of Suzhou Industrial Park.

On the same day, Evergrande New Energy Automobile Investment holding Group Co., Ltd. added a piece of information about the person subject to execution, the execution target was 55.58 million yuan, and the enforcement court was the Shanghai Pudong New area people's Court. As of press time, the total amount of execution of Evergrande New Energy Automobile Investment holding Group Co., Ltd. is 2.366 billion yuan. At the same time, there are 18 cases of breach of faith and face a number of lawsuits.

Data show that Evergrande New Energy Automobile Investment holding Group Co., Ltd. was established in January 2019, formerly known as Evergrande National Energy New Energy Automobile Investment holding Group Co., Ltd., with legal representative Liu Weisheng and registered capital of 3.5 billion US dollars. Is an enterprise mainly engaged in the automobile manufacturing industry. According to equity 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.

Evergrande New Energy vehicle (Jiangsu) Co., Ltd. was established in March 2019, formerly known as Junjiang New Energy Technology (Jiangsu) Co., Ltd., the legal representative is Hao Xinhong, with registered capital of US $500 million and paid-in capital of US $27 million. Is an enterprise mainly engaged in research and experimental development. Equity information shows that the company is wholly owned by Evergrande New Energy Automobile Investment holding Group Co., Ltd. At present, the company has 12 final cases, the total amount of execution is 20.9648 million yuan, the proportion of non-performance is 100%; there are 18 pieces of information about the person subject to execution, the total amount of execution is 20.1975 million yuan, the latest one is November 7, and the subject matter of execution is 63700 yuan. The execution court is the people's Court of Nantong Economic and technological Development Zone.

As a car builder, Evergrande is in a very difficult situation. On October 25th Evergrande announced that it would suspend potential transactions and stop discussing potential share transfers. It is understood that the deal began on May 26, when Evergrande said that potential buyers would provide loans to Evergrande to finance the group's continued operation and development of the group's electric vehicle business. Evergrande said frankly that it was seriously short of funds. The Tianjin plant has stopped production since the beginning of this year and has not yet resumed production. People in the industry generally believe that the deal is Evergrande's "life-saving money" failed, and with the collapse of this "life-saving money" also makes Evergrande's life more difficult. It should be noted that as early as August last year, Evergrande said it received Newton's first strategic investment of US $500 million (about RMB 3.55 billion). After the completion of the deal, Newton will provide 600 million yuan of interest-free and guaranteed transitional funds for Evergrande's R & D, production and sales business, but unfortunately, Newton's strategic investment was terminated in April this year.

In addition to the failure of the "life-saving money", Evergrande also faces multiple pressures such as factory shutdowns and the return of government subsidies. At present, Evergrande is still carrying heavy loads. 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.

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