Evergrande's shares continued to rise on July 22nd after months of falls, rising as much as 30% in the morning.
On the news side, in addition to a statement issued by Evergrande Group, Guangfa Bank and Evergrande Group have always maintained a good business relationship. With regard to the recent civil ruling on property preservation before litigation, the two sides have been properly resolved through full communication. In the future, the two sides will continue to consolidate and deepen business cooperation and continue to strengthen cooperation to achieve mutual benefit and common development.
Evergrande owns 20 per cent of Faraday Future (FF), or a big reason for the rise in its share price.
On June 25th, FF, a new energy vehicle company founded by Jia Yueting, announced that the Securities and Exchange Commission had approved the merger of PSAC and FF. If nothing happens, the combined company will be listed on Nasdaq on July 22, and the shares and warrants of the combined company are expected to be traded under the stock codes "FFIE" and "FFIEW" respectively after the transaction is completed.
According to the previous agreement between the two sides, the company is valued at US $3.4 billion, or RMB 22 billion, after the completion of the merger.
It is worth noting that FF's first model, FF 91, has been officially scheduled for mass production, with a reservation amount of 50, 000 yuan, and some exclusive rights can be obtained by submitting an application for reservation at the same time. According to the plan, the new car will be on sale in the first half of 2022.
In addition to FF 91, FF 81 has also been exposed, which will continue the design style and some of the features of FF 91, but the price of the "simplified" version is expected to fall sharply.