BRIEF-China Evergrande New Energy Vehicle Had No Significant Contingent Liabilities

Reuters03-27

March 27 (Reuters) - China Evergrande New Energy Vehicle Group Ltd :

* ARRANGED VACATION FOR CERTAIN STAFF AND SUSPENDED PRODUCTION OF TIANJIN BASE.

* AS AT DEC 31, GROUP HAD NO SIGNIFICANT CONTINGENT LIABILITIES

* WILL MAKE EFFORT TO INTRODUCE STRATEGIC INVESTORS TO RAISE FUNDS TO MAINTAIN SURVIVAL, FUTURE DEVELOPMENT PLANS

* AS AT DEC 31, GROUP’S UNPAID DEBTS DUE WERE ABOUT RMB9,447 MILLION

* DO NOT RECOMMEND PAYMENT OF DIVIDEND FOR YEAR

* AS AT DEC 31, GROUP’S OVERDUE COMMERCIAL BILLS WERE ABOUT RMB3,401 MILLION

* AS AT 31 DECEMBER , GROUP HAD A TOTAL OF 68 PENDING LITIGATION CASES

* TOTAL AMOUNT INVOLVED IN PENDING LITIGATION CASES WAS RMB13,608 MILLION.

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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