Evergrande NEV loses control of key subsidiaries after bankruptcy

China Evergrande New Energy Vehicle Group Limited reported that its equity interest in two key subsidiaries, Evergrande New Energy Vehicle (Guangdong) Co., Ltd. and Evergrande Smart Automotive (Guangdong) Co., Ltd., has been cancelled. This follows bankruptcy and reorganization proceedings, resulting in 100% of the equity interest in these subsidiaries being registered in the name of Guangzhou Juli Modern Industrial Development Co., Ltd. on 18 November 2025. The Group received no cash consideration for this change.

Guangzhou Juli, wholly-owned by six PRC state-owned enterprises, is identified as a third party. Evergrande New Energy Vehicle (Guangdong) Co., Ltd. had registered capital of RMB5 bn, with creditor claims of approximately RMB7.622 bn against assessed assets of RMB1.373 bn as of 7 April 2025. Evergrande Smart Automotive (Guangdong) Co., Ltd. had registered capital of RMB2.5 bn, with creditor claims of approximately RMB5.253 bn against assessed assets of RMB1.082 bn as of the same date.

Trading in the company’s shares on the Main Board of The Stock Exchange of Hong Kong Limited remains suspended since 1 April 2025, pending the publication of outstanding financial results and the fulfillment of resumption guidance.