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

Thanks to CTOnews.com netizens Digital Whale, lemon_meta, West window for the delivery of clues about the past! IT House August 14 news, China Evergrande issued a notice that Evergrande New Energy vehicles and subscribers (including the company) entered into a share subscription agreement and set-off agreement.

Subscribers have conditionally agreed to subscribe and Evergrande New Energy vehicles have conditionally agreed to allot and issue a total of 5.44 billion Evergrande New Energy vehicle shares at a subscription price of HK $3.84 per share with a total subscription amount of HK $20.895 billion.

According to the notice, the subscription amount will be repaid by offsetting Evergrande New Energy vehicles to meet the relevant loans of various subscribers in accordance with the terms and conditions of the set-off agreement.

At the same time, Evergrande announced that it received the first strategic investment of US $500 million from NWTN Group, a listed company owned by the UAE national sovereign fund, and another 600 million yuan of transitional funds, which will be received one after another from five working days after the announcement.

Officials said: all the war investment funds are used in the Evergrande Automobile Tianjin plant to ensure the normal production of Hengchi 5 and the continuous mass production of Hengchi 6 and 7. It is reported that the NWTN Group will also help Evergrande to open up overseas markets and export 30,000 to 50,000 Hengchi vehicles to the Middle East market every year.

China Evergrande announced that its shareholding will be diluted to about 46.86%, and Evergrande will no longer be a non-wholly-owned subsidiary after the completion of the matter. IT House attached Evergrande announcement:

On August 14, the Company, Xu Jiayin, Evergrande New Energy vehicle and the subscriber signed a new energy vehicle share subscription agreement, according to which Evergrande New Energy vehicle conditionally agreed to allot and issue, while the subscriber conditionally agreed to subscribe for shares, resulting in the completion of the new energy vehicle debt-to-equity swap and the new energy vehicle share subscription. The total issued share capital of holding Evergrande New Energy vehicle as a result of the issuance of new new energy vehicle shares is approximately 27.50% (assuming that there is no other change in the issued share capital of Evergrande New Energy vehicle from the date of this announcement to the delivery date). The total consideration is HK $3889723903 (equivalent to approximately US $500 million), which means the subscription price for each subscription share is HK $0.6297.

Assuming that the debt-to-equity swap of new energy vehicles is completed and immediately following the completion of the subscription for shares of new energy vehicles, the Group's shareholding in Evergrande New Energy vehicles will be diluted to about 46.86% (assuming that there is no other change in the issued share capital of Evergrande New Energy vehicles from the date of this announcement to the delivery date), and Evergrande New Energy vehicles will no longer be a non-wholly owned subsidiary of the Company. Its financial results are no longer consolidated in the Group's results.

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