China Evergrande New Energy Vehicle shares drop 7% as creditors seek bankruptcy for two units.
China Evergrande New Energy Vehicle (0708.HK) shares dropped 7% after individual creditors sought court approval for bankruptcy proceedings for two of its units. Creditors filed a bankruptcy petition for Evergrande New Energy Vehicle (Guangdong) and Evergrande Smart Automotive (Guangdong), which could impact the company's production and operations. The shares slid to HK$0.295 after initially making early gains.
July 29, 2024
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