Evergrande Auto (00708): Guangzhou Juli is wholly owned by 6 Chinese provincial or local state-owned enterprises

According to the Zhitong Finance App, Evergrande Auto (00708) issued an announcement. As disclosed in the August 2024 announcement, the relevant subsidiary has entered bankruptcy and restructuring proceedings (such procedures). According to these procedures, a manager (manager) is appointed to take over the control, management and operation of the relevant subsidiary, including formulating the relevant subsidiary's bankruptcy and restructuring plan and implementing the plan after approval by the relevant local people's court.

On November 22, 2025, the Company learned news reports that the registered shareholders of the relevant subsidiary companies had changed from members of the Group to Guangzhou Juli Modern Industry Development Co., Ltd. (Guangzhou Juli). After an inquiry by the Company, the manager confirmed that according to the bankruptcy and restructuring plan approved by the relevant local people's court, the Group's shares in the relevant subsidiary were cancelled and all shares of the relevant subsidiary companies were registered under the name of Guangzhou Juli on November 18, 2025. Since the plan and the relevant shareholder changes in the relevant subsidiaries are the result of such procedures, the Group has not charged any cash costs.

Based on the latest information available to the Company, the directors of the Company are well aware and fully aware:

(i) Guangzhou Juli is wholly owned by 6 Chinese provincial or local state-owned enterprises and is a third party not related to the Company (as defined in the Hong Kong Stock Exchange Limited Securities Listing Rules);

(ii) Relevant subsidiaries are mainly engaged in the manufacture of smart mobile devices;

(iii) On June 30, 2024, NEV Guangdong had a registered capital of RMB 5 billion, and the manager reported to the court that on April 7, 2025, the total amount of claims by creditors against NEV Guangdong was approximately RMB 7.622 billion and the total assessed liquidated assets of NEV Guangdong was approximately RMB 1,373 billion; and

(iv) On June 30, 2024, Smart Car Guangdong had a registered capital of RMB 2.5 billion, and the manager reported to the court that on April 7, 2025, the total amount of claims by creditors against Smart Car Guangdong was approximately RMB 5.253 billion and the total assessed liquidated assets of Smart Car Guangdong was approximately RMB 1,082 billion.

Furthermore, trading of the company's shares continues to be suspended.