Evergrande Automobile Hong Kong Stock Exchange announced that the company's subsidiary, Evergrande New Energy Automobile Investment Holding Group Co., Ltd.("Evergrande Automobile Holdings" and other subsidiaries of the company, collectively referred to as "Relevant Subsidiaries"), recently received a letter issued by relevant local administrative departments. Relevant subsidiaries have signed a series of investment cooperation agreements with relevant local administrative departments since April 29, 2019. Since the Company failed to perform its contractual obligations in accordance with the relevant terms of the relevant agreement, the relevant local administrative department plans to require the relevant subsidiaries in accordance with the provisions of the Civil Code of the People's Republic of China and other Chinese laws and regulationsslotsbingogames: Termination of relevant agreements; return various awards and subsidies issued totaling approximately RMB 1.9 billion to relevant local administrative departments, and relevant subsidiaries shall bear joint and several liability to each other. Currently, relevant subsidiaries plan to send letters to relevant local administrative departments for coordination. Trading in the company's shares will continue to be suspended until further notice.
