Evergrande Auto responds to stock price surge: unaware of the reason for the increase.
On March 27, Quick Technology reported that Evergrande Auto recently announced that the company's board of directors has noted an increase in the price and trading volume of its shares on the Hong Kong Stock Exchange.
Previously, the company announced that creditors had applied for the bankruptcy liquidation of Evergrande Hengchi New Energy Automobile (Shanghai) Co., Ltd. The company received a ruling from the Shanghai Third Intermediate People's Court on March 17, 2025, which accepted the bankruptcy liquidation application.
Nevertheless,The board of directors, after making reasonable inquiries, confirmed that they are not aware of any reasons that have led to the increase in the stock price, nor do they have any information that must be disclosed to prevent the company's shares from experiencing a false market, other than the information already disclosed.
Any other inside information that must be disclosed under Part XIVA of the Securities and Futures Ordinance (Cap. 571) of Hong Kong.
On March 26, Evergrande Auto's stock price closed up 74.79%, with an intraday increase of over 230%.
Subsequently, there were rumors that GAC Group's Huawang Automobile would acquire Evergrande Auto's Nansha factory.
However, the Secretary Office of GAC Group responded that the GAC GH project is a light asset operation company that will prioritize utilizing the production capacity of Aion and Trumpchi brands, and reminded the public not to believe in rumors, with everything subject to the company's announcements.
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