Summary by Moomoo AI
China Evergrande New Energy Vehicle Group Limited (Evergrande Vehicle) issued a profit warning, expecting a comprehensive net loss of approximately 20.254 billion yuan in the first half of 2024, a significant increase compared to the net loss of 6.873 billion yuan in the same period of 2023. The expanded loss is mainly due to the parent company China Evergrande Group being ordered into liquidation by the Hong Kong High Court on January 29, 2024. As a result, Evergrande Vehicle increased the provision for impairment of accounts receivable from China Evergrande Group's subsidiaries and joint ventures, with a total provision of 16.737 billion yuan. The company emphasizes that the information provided in this announcement is based on a preliminary review of financial data and has not been...Show More