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Evergrande Auto has recently issued a statement, noting that its board of directors has observed a significant increase in both the price and trading volume of the company's shares on the Hong Kong Stock Exchange. This development comes amidst a backdrop where Evergrande Hengchi New Energy Automobile (Shanghai) Co., Ltd. faced a bankruptcy liquidation application from creditors, receiving an acceptance ruling from the Third Intermediate People's Court of Shanghai on March 17. Upon investigation, the board of directors has clarified that they are unaware of the underlying reason behind the surge in share price and do not possess any undisclosed information that could potentially mislead the market. As of market close on March 26, Evergrande Auto's share price had recorded an impressive gain of 74.79%.
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