Shulou(Shulou.com)11/24 Report--

CTOnews.com March 23, Evergrande issued a notice on the Hong Kong Stock Exchange that the group is at risk of suspending production without access to new liquidity.

Evergrande said it still plans to launch a number of flagship models and hopes to achieve mass production if it can seek financing of more than 29 billion yuan in the future. Under this plan, cumulative unleveraged cash flow from 2023 to 2026 is expected to reach between minus 7 billion yuan and minus 5 billion yuan.

All the above financial forecasts are based on the 2021 management statements, depend on many assumptions and prerequisites, there are many uncertainties, and the company cannot guarantee to operate in accordance with the aforementioned forecasts.

It is worth mentioning that officials also mentioned that Evergrande New Energy vehicles have delivered more than 900 vehicles as of today. As previously reported by CTOnews.com, Hengchi 5 was officially in mass production on September 16, 2022, and the first batch of mass production cars began to be delivered on October 29, 2022.

Evergrande New Energy vehicles have taken steps to cut costs, such as its workforce, in order to maintain basic business operations because of tight liquidity, officials said.

Evergrande New Energy had 2795 employees as of March 2023, compared with 3742 as of June 30, 2022.

Related readings:

"the president of Evergrande said that the pre-sale of Hengchi 5 is hot, and the big sale is a foregone conclusion."

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