Evergrande Vehicle's two subsidiaries' bankruptcy reorganization approved, equity transferred to Guangzhou Juliy
EVERG VEHICLE (00708.HK) announced that it has received confirmation from the administrator that the bankruptcy reorganization plan of its subsidiaries, New Energy Vehicles Guangdong and Intelligent Vehicles Guangdong, has been approved by the relevant local people's court, and all their equity was registered under the name of Guangzhou Juli on November 18. The group did not receive any cash consideration. Guangzhou Juli is wholly owned by six provincial or local state-owned enterprises in China.
The company's shares will be suspended from trading starting April 1, 2025, and will remain suspended until further notice
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