Evergrande Automobile's first half financial report: loss amounted to 6.873 billion yuan, a year-on-year loss reduction of 48.6%

According to news from this site on August 25, Evergrande Automobile released a mid-year performance announcement. The divestiture of real estate projects was completed on May 12, resulting in a reduction of 43.139 billion yuan in net liabilities in the financial statements. As of June 30, 2023, the company's net liabilities dropped to 32.84 billion yuan; total assets were 42.852 billion yuan; total liabilities were 75.692 billion yuan, of which: borrowed 26.997 billion yuan (that is, debt-for-equity swaps) borrowings of RMB 17.278 billion), trade and other payables of RMB 42.273 billion, and other liabilities of RMB 6.422 billion.

This site obtained from the report that the group’s revenue was 155 million yuan , gross loss was 61 million yuan; net loss totaled 6.873 billion yuan, a year-on-year loss reduction of 48.6%, including: loss from real estate divestment projects of 1.061 billion yuan, non-operating losses from asset disposal, asset impairment and other non-operating losses of 3.716 billion yuan, operating losses 2.096 billion yuan.

As of June 30, 2023, the group incurred a loss of RMB 6.873 billion; the accumulated losses and current net liabilities were respectively were 105.771 billion yuan and 36.605 billion yuan; cash and cash equivalents and restricted cash were 117 million yuan.

Of all Hengchi 5 models that were launched for pre-order in July 2022, more than 760 units have been delivered. Sales of automobiles and auto parts increased from 0.29 million yuan in the first half of last year to 113.37 million yuan in the reporting period

In terms of research and development, the group applied for 3,512 projects related to research fields worldwide of patents, 2,715 of which have been granted patent authorization

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