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On September 17, Evergrande Auto (00708.HK) unveiled its 2026 interim financial results along with several supplementary documents at the Hong Kong Stock Exchange. The financial report reveals that as of June 30, 2026, the group's total assets stood at approximately 182 million yuan. In stark contrast, its total liabilities had ballooned to a staggering 32.722 billion yuan, encompassing 16.283 billion yuan in borrowings and 16.439 billion yuan in trade and other payables. According to the announcement, the group has officially withdrawn from the automobile manufacturing sector and will pivot towards an asset-light operational model. This strategic shift will capitalize on its electric vehicle battery expertise and proprietary automobile manufacturing technologies.
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