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

CTOnews.com July 26 news, Evergrande Motor announced on July 26, 2022 group losses of 27.664 billion yuan. As of December 31, 2022, the Group's cumulative losses and shareholders' losses were 98.906 billion yuan and 68.651 billion yuan respectively. Cash and cash equivalents were $220 million as at 31 December 2022.

The group incurred a loss of 56.344 billion yuan in 2021 (2020: 7.665 billion yuan). As at 31 December 2021, the Group's cumulative losses and shareholders' losses were 71.241 billion yuan (2020: 12.997 billion yuan) and 39.339 billion yuan (2020: 5.839 billion yuan) respectively. Cash and cash equivalents as at 31 December 2021 were 2.453 billion yuan (2020: 10.476 billion yuan). Trading in the shares has been suspended on the Stock Exchange since 9: 00 a.m. on April 1, 2022 and will continue to be suspended until further notice.

Prior to this, Evergrande Group issued three financial reports, including 2021 and 2022 results announcements and 2022 interim results announcements. According to the financial report, China Evergrande lost more than 812 billion yuan in two years, with a total debt of more than 2.4 trillion yuan.

CTOnews.com noted that in June this year, Evergrande issued a notice revealing the current state of car production: the company did not resume car production until May 2023. As the first production model built by Evergrande, Hengchi 5 is positioned as a pure electric compact SUV model with a comprehensive mileage of 602km under CLTC conditions, which currently sells for 179000 yuan, according to the official website. Evergrande said it achieved mass production and delivery of Hengchi 5 models in 2022; in terms of staff, the company had 4506 employees at the end of 2022, accounting for only 4.38 per cent of Evergrande's total staff.

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