According to the Daily Economic News report, Evergrande Automobile issued an announcement stating that in order to improve the overall efficiency of the group and supplement working capital, the group has been actively negotiating with potential buyers to sell part of the group’s health-care valley, new energy vehicle life projects and other assets .

　　As of the date of this announcement, the company has completed the disposal of most of the assets held by Evergrande Hofer Powerchain Gmbh, a subsidiary of the company, and the related shareholders' equity held by the Group in Meneco AB.

　　At the same time, it sold the Group’s shares in Protean Electric Holdings Limited and E-Tractaction Europe B.V. to the company’s independent third parties. The transaction of shareholders’ equity held by China has also been (or will be) completed in the near future (collectively, ‘Overseas Disposal Transaction’).

　　As all applicable percentage rates calculated for various overseas disposal exchanges in accordance with Chapter 14 of the Listing Rules do not exceed 5%, each overseas disposal transaction does not constitute a notifiable transaction of the company.

　　In addition, the company is still in contact with different potential investors to introduce funds to the group, and as of the date of this announcement is still in the process of negotiation.

　　As of the date of this announcement, the company has refunded a total of 2,663,300 square meters of living supporting land and industrial land that have not yet started construction, involving 7 projects with a total amount of RMB 1.284 billion.

　　The aforesaid land repatriation funds are mainly used for project construction and payment of wages for migrant workers, and payment of land for remaining plots. Part of the land repatriation funds have been confiscated by the government.