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Evergrande Auto Suspends Shares Ahead of 2024 Annual Results Release
2025-03-20 /
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Author：小编
Evergrande Auto has announced that the release of its 2024 annual results will be postponed until after March 31, 2025, and consequently, share trading will be suspended from April 1, 2025. The company cites a challenging operating environment within the new energy vehicle market, marked by funding constraints, obstacles in securing strategic investors, and complexities in the auditing process. Despite implementing cost-cutting measures, including layoffs, the group's cash reserves remain critically low, barely sustaining essential operations. On the morning of the 20th, Evergrande Auto's share price plummeted by 17.26%, closing at HK$0.139 per share.
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