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Evergrande Motor plans to be listed on the Shanghai Stock Exchange by Science and Technology Innovation Board
Sep 18,2020 13:52CST
The content below was translated by Tencent automatically for reference.

SMM: on September 18, Evergrande issued a morning announcement, announcing that it proposed to issue RMB shares and list Science and Technology Innovation Board on the Shanghai Stock Exchange. Once the future listing in Science and Technology Innovation Board is successful, it means that Evergrande will become a company listed on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange.

However, with regard to the proposed listing on the Shanghai Stock Exchange's Kechuang Board, Evergrande also mentioned: "as the issuance of RMB shares requires the necessary regulatory approval and may or may not be carried out, shareholders and potential investors should exercise caution when buying and selling the company's securities. The Company will make further disclosure on the development of RMB share issuance in due course in accordance with the listing rules and other applicable laws and regulations. "

Evergrande has recently taken a lot of actions in terms of capital layout. Just a few days ago, Evergrande announced that it would introduce a number of well-known international investors, including Tencent Holdings Limited, Sequoia Capital, Yunfeng Fund and DiDi, to raise about HK $4 billion. Evergrande claims that the net proceeds from this fund-raising will be used for Evergrande's general corporate purposes, which will expand its shareholder base, strengthen its capital base and enhance the Group's financial position and net asset base, so as to promote Evergrande's long-term development and growth.

At present, Evergrande is indeed in a period of rapid development. After the global debut of the first six models, Evergrande said that the first volume production car will be trial-produced in the first half of next year and will be officially mass-produced in the second half of next year. Evergrande Automobile production base in Shanghai and Guangzhou have entered the stage of equipment installation and commissioning. In terms of sales channels, Evergrande previously bought a stake in Guanghui Group, the world's largest automobile dealer, which has more than 800 business outlets. In addition, Evergrande will quickly lay out three major centers of automobile display experience, sales and maintenance after-sales service. establish a huge automobile sales channel and after-sales service network.

Editor's comments:

Since Evergrande Health changed its name to Evergrande Automobile, there is no need to say much about the status of the automobile business in Evergrande Group, and it has become a key to the growth of Evergrande Group in the future. In order to achieve the goal of "becoming the largest and strongest new energy automobile group enterprise in the world in 3-5 years", Evergrande obviously needs more financial support, and its capital layout and promotion are indispensable.

Evergrande Automobile
listed on the market

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