China Evergrande: A wholly-owned subsidiary entered into a sale and purchase agreement with Evergrande Automobile

China Evergrande announced on the Stock Exchange that on April 24, the buyer (Anxin Holdings Co., Ltd., a wholly-owned subsidiary of the company), the company Entered into a sale and purchase agreement with Evergrande Automobile, pursuant to which the Purchaser conditionally agreed to purchase and Evergrande Automobile conditionally agreed to sell the Target Shares (collectively referred to as Huibao Shares and Flaming Ace Shares) as a beneficial owner. The initial consideration for the target shares is 2 yuan, which needs to be adjusted with reference to the adjusted net asset value of the target group on December 31, 2022.

If the adjusted net asset value of the Target Group exceeds 2 yuan, the consideration for the Target Shares will be adjusted to the amount of the Target Group’s adjusted net asset value (Adjusted Consideration), and the Purchaser shall pay Evergrande Automobile an amount equal to the Adjusted Consideration and the Target The amount of the difference between the initial consideration for the shares (the remaining consideration).