wjpeso102com| Evergrande Motors faces a fine of 1.9 billion yuan and huge losses: worrying financial situation

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Evergrande Motors is facing a refund pressure of 1.9 billion yuan, and its financial report shows a loss of 119 in 2023wjpeso102com.95 billion yuan, and the asset-liability ratio exceeds 200%.

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Evergrande Motors faces pressure of 1.9 billion yuan in refunds

in recentwjpeso102comIn the announcement, Evergrande Automobile and its Evergrande New Energy Vehicle Investment Holding Group Co., Ltd. and other affiliated companies received letters from local administrative departments. The letter pointed out that due to failure to perform their obligations in accordance with the contract, these companies may face cancellation of the agreement and refund approximately 1.9 billion yuan in rewards and subsidies.

Faced with possible major financial shocks, Evergrande Motor is communicating and coordinating with local governments. If the requirements of the above letter are implemented, the company's financial condition and operations may be seriously affected.

Judging from the 2023 annual financial report released by Evergrande Motor, the company's cumulative losses at the end of last year reached 110.841 billion yuan, with shareholders losing 37.693 billion yuan. This financial situation has recorded losses of 98.906 billion yuan and 68.651 billion yuan in 2022.

At the same time, Evergrande Automobile's assets and liabilities also show challenges. As of the end of 2023, the Group's assets were 34.851 billion yuan, while total liabilities reached 72.543 billion yuan, including 26.484 billion yuan in borrowings and 43.012 billion yuan in trade and other payables.

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