Evergrande NEV announces board overhaul, senior resignations and ongoing trading suspension

China Evergrande New Energy Vehicle Group Limited (Evergrande NEV) disclosed extensive governance changes effective 15 July 2026, reshaping its board and committee structure while highlighting continued non-compliance with several Hong Kong Listing Rules and an ongoing share-trading suspension.

Key management moves 1. Board committees – Independent non-executive director Xie Wu has been redesignated as chairman of the Audit, Nomination, Remuneration and Corporate Governance Committees. Vincent Gar-Gene Leung becomes a member of the Audit, Remuneration and Corporate Governance Committees. 2. New executive director – Ma Kin Ling, aged 44, joins the board as an executive director on a one-year service agreement at a nominal remuneration of HKD 1 per annum. Ma is currently CFO and company secretary of Ciprun Technology Holdings and holds multiple Hong Kong listed-company directorships. 3. Director exits – Executive director Choi Wai Hong Clifford and independent non-executive director Vincent Gar-Gene Leung have resigned, citing personal and business commitments. 4. Company secretary – Fong Kar Chun Jimmy has resigned as company secretary and ceased to be an authorised representative.

Post-change board structure • Executive director: Ma Kin Ling • Independent non-executive director: Xie Wu

Compliance status While the Nomination Committee now meets Rule 3.27A requirements, Evergrande NEV remains non-compliant with: • Rule 3.10(1) – fewer than three independent non-executive directors. • Rule 3.10(2) & 3.21 – absence of an INED with requisite accounting or financial expertise and an Audit Committee short of three members. • Rule 13.92 – lack of gender diversity on the board. • Rule 3.28 – vacancy in the company secretary role. • Rule 3.05 – fewer than two authorised representatives.

The company is seeking suitable candidates to fill these vacancies.

Trading status Evergrande NEV shares have been suspended since 1 April 2025 pending release of outstanding financial results and fulfilment of Stock Exchange resumption guidance. Trading will remain suspended until further notice.