Evergrande Auto seeks strategic investors to ease liquidity problems

In its latest announcement, Evergrande Auto said that they have not yet found a strategic investor or buyer who can help it alleviate liquidity problems and promote appropriate restructuring of the company. This is mainly due to the severe challenges currently facing the Chinese new energy vehicle market. Although the company has taken measures to cut costs by laying off employees and cutting other operating costs, its cash reserves are still tight and can only barely maintain basic operating activities. In addition, due to the shortage of funds, the company may not be able to guarantee some key services, such as on-site audits by auditors and other professional consultants. Despite this, Evergrande Auto is still actively looking for strategic investors or buyers to alleviate liquidity problems.