On May 17, Evergrande Auto announced a temporary trading halt on the Hong Kong Stock Exchange. The stock price of Evergrande Auto surged over 70% before the trading halt. On May 20, Evergrande Auto announced that, at the company’s request, trading of its shares on the Hong Kong Stock Exchange has been temporarily suspended by Hong Kong Exchanges and Clearing Limited since 10:56 am on May 17, 2024, pending the release of an announcement regarding insider information.
On May 17, Evergrande Auto announced a temporary trading halt on the Hong Kong Stock Exchange. The announcement stated that trading was suspended as of 10:56 am this morning. Before the halt, Evergrande Auto’s stock price had surged over 70%. Prior to the suspension, Evergrande Auto had risen more than 53%.
On April 30, Evergrande Auto announced on the Hong Kong Stock Exchange that its revenue for 2023 was RMB 1.34 billion, a 900.04% increase from the previous year. The increase in revenue was mainly due to the sales of automobiles and automobile parts, which increased from approximately RMB 0.61 billion to RMB 1.46 billion. Property sales revenue increased by RMB 11.36 billion. Data shows that as of the end of last year, Evergrande Auto’s total assets were RMB 34.851 billion and total liabilities were RMB 72.543 billion.