China Evergrande New Energy Vehicles released a batch of overdue financial reports disclosing that has exited automobile manufacturing entirely, reports Caixin. The comes as it seeks to avoid delisting from the Hong Kong stock exchange.
Trading in the company’s shares has been suspended since April 1, 2025, after it failed to release its 2024 earnings on time. Under Hong Kong exchange rules, a company may be delisted if trading remains suspended for 18 consecutive months. Evergrande NEV must meet resumption conditions by September 30, 2026, to retain its listing. The company said its new technical-services and battery-trading businesses are intended to demonstrate that it meets the exchange’s operating requirements.
The filings underscore the collapse of the indebted property conglomerate’s electric-vehicle venture. Evergrande NEV is now operating as a small trading business focused on technical services and lithium-battery sales, with seven employees as of the end of June.