China Evergrande New Energy Vehicle Group Issues Supplemental Announcement and Updates on Trading Suspension

Key Points for Investors

• Continued Suspension of Trading: Shares of China Evergrande New Energy Vehicle Group Limited (“the Company”) remain suspended on the Hong Kong Stock Exchange as of 1 April 2025 and will continue to be so until further notice.
• Outstanding Financial Results: The suspension is due to the delay in publishing the Company’s outstanding financial results and the need to fulfill resumption guidance requirements as previously announced.
• Subsidiary Operations Update: The Company provides further details on its subsidiary, which is engaged in research, development, and manufacturing of new energy vehicles:
  • It indirectly owns National Electric Vehicle Sweden AB, which has been a key asset but has suspended operations since 2023.
  • It holds minority business interests and investments in a joint venture in Germany. Notably, the German joint venture has also suspended its operations since 2022.

Details of the Announcement

China Evergrande New Energy Vehicle Group Limited has issued a supplemental announcement to provide further transparency regarding its business and trading status. The Company clarified that its principal operating subsidiary, which focuses on new energy vehicle R&D and manufacturing, is facing significant business challenges:

• National Electric Vehicle Sweden AB (NEVS): This entity, previously involved in a transaction disclosed on 25 February 2025, was a core R&D and manufacturing platform. However, NEVS has suspended all operations since 2023, raising concerns about the Company’s ability to generate revenue from this asset.
• German Interests: The Company also maintains minority stakes in German businesses and a joint venture. Importantly, the German joint venture has ceased operations since 2022, further highlighting operational difficulties in the Company’s international portfolio.

Potential Price-Sensitive Information

• Sustained Trading Suspension: The ongoing suspension of trading is a critical issue for shareholders. The shares will not resume trading until the Company releases its overdue financial statements and complies with the resumption guidance set forth by the Hong Kong Stock Exchange.
• Operational Uncertainty: The suspension of core business activities at NEVS since 2023 and in the German joint venture since 2022 represents a significant risk to the Company’s future prospects and valuation. This could have a meaningful impact on the Company’s share value once trading resumes, depending on future disclosures and recovery efforts.

The Company advises shareholders, investors, and potential investors to exercise extreme caution when dealing in its securities due to the ongoing uncertainties and lack of up-to-date financial information.

Corporate Governance Update

As of 24 April 2026, the Board comprises Mr. Siu Shawn (Chairman) and Mr. Choi Wai Hong Clifford as executive Directors, and Mr. Xie Wu and Mr. Vincent Gar-Gene Leung as independent non-executive Directors.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult professional advisors and consider their own financial circumstances before making any investment decisions. The Company has expressly disclaimed responsibility for the accuracy or completeness of this information, and trading remains suspended pending further disclosures.

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