BRIEF-China Evergrande New Energy Vehicle Announces Receipt Of Letter Of Demands From Relevant Local Administrative Authorities

Reuters05-22

May 22 (Reuters) - China Evergrande New Energy Vehicle Group Ltd :

* RECEIPT OF LETTER OF DEMANDS FROM RELEVANT LOCAL ADMINISTRATIVE AUTHORITIES AND CONTINUED SUSPENSION OF TRADING

* TRADING IN SHARES OF CO WILL REMAIN SUSPENDED UNTIL FURTHER NOTICE

* DEMANDS OF LETTER, IF IMPLEMENTED, TO HAVE MATERIAL ADVERSE IMPACT ON FINANCIAL POSITION & OPERATIONS OF CO

* RELEVANT SUBSIDIARIES INTEND TO COORDINATE WITH RELEVANT LOCAL ADMINISTRATIVE AUTHORITIES BY LETTERS

* RELEVANT LOCAL ADMINISTRATIVE AUTHORITIES PROPOSES TO TERMINATE RELEVANT AGREEMENTS, OTHERS

* DEMAND TO RETURN RELEVANT LOCAL ADMINISTRATIVE AUTHORITIES INCENTIVES, OTHERS GRANTED IN AGGREGATE AMOUNT OF RMB1.9 BILLION

Further company coverage:

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

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