BRIEF-China Evergrande New Energy Vehicle Group Says Is Carrying Out A Series Of Cost Reduction Measures
- Country:
- China
China Evergrande New Energy Vehicle Group Ltd: * IS IN MASS PRODUCTION OF HENGCHI 5 AND HAVE DELIVERED A TOTAL OF 324 UNITS OF HENGCHI 5 TO CUSTOMERS
* IN ORDER TO SAVE COSTS, GROUP IS CARRYING OUT A SERIES OF COST REDUCTION MEASURES * WILL CONTINUE TO DO ITS UTMOST TO CREATE FAVORABLE CONDITIONS FOR MASS PRODUCTION OF HENGCHI 5
* COST REDUCTION MEASURES, INCLUDING REDUCING OVERALL NUMBER OF EMPLOYEES WORK, REDUCING SALARIES OF SOME * RECEIVED STATUTORY DEMAND DATED 14 DEC FROM LEGAL ADVISER ACTING ON BEHALF OF CREDITOR
* STATUTORY DEMAND DEMANDING CO TO PAY A TOTAL AMOUNT OF EUR4.7 MILLION * CO IS SEEKING PROFESSIONAL ADVICE IN RESPECT OF STATUTORY DEMAND
* STATUTORY DEMAND REQUESTED UNIT TO REPAY DEBT WITHIN 3 WEEKS FROM DATE OF NOTICE * TRADING IN SHARES OF CO WILL REMAIN SUSPENDED UNTIL FURTHER NOTICE
* FAILING REPAYMENT OF DEBT, CREDITOR MAY PRESENT A WINDING-UP PETITION AGAINST UNIT Source text for Eikon: Further company coverage:
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