BRIEF-Evergrande Property Services Announces Legal Proceeding

China Evergrande New Energy Vehicle Group Ltd: * LEGAL PROCEEDING

* JINBI PROPERTY MANAGEMENT COMPANY COMMENCED PROCEEDING AGAINST SHENZHEN QIHANG METALS MATERIALS, AMONG OTHERS * PROCEEDING RESPECT OF RECOVERY OF APPROXIMATELY RMB 2 BILLION DEPOSIT CERTIFICATE PLEDGE GUARANTEES OF JINBI PROPERTY

* PROCEEDING WILL NOT HAVE A MATERIAL ADVERSE EFFECT ON NORMAL BUSINESS OPERATIONS OF GROUP * GROUP HAS RECEIVED A NOTICE ON 28 NOVEMBER 2023 FROM COURT FORMALLY ACCEPTING FILING OF CASE

* PROCEEDINGS REQUESTING LIABLE PARTIES TO REPAY AMOUNT OF RMB2 BILLION TOGETHER WITH ESTIMATED INTEREST OF RMB152.1 MILLION Further company coverage:

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