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12 Jun

Government chases Evergrande Auto's subsidies, assets

Evergrande Auto, the NEV company of troubled Chinese real estate company Evergrande, is being chased by government departments for violating signed contracts. It will have to pay subsidies back, Kallanish learns.  On 11 June, Hong Kong-listed Evergrande Auto announced that its subsidiaries received administrative processing decisions from relevant local administrative departments. “Based on the fact that the relevant subsidiaries failed to perform the…
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