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00708 EVERG VEHICLE
RTNominal up0.208 +0.001 (+0.483%)
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10/08/2021 14:58

Evergrande Vehicle (00708) expects increase in interim loss

[ET Net News Agency, 10 August 2021] China Evergrande New Energy Vehicle Group Limited
(00708) said the group is expected to record a net loss for the six months ended 30 June
2021 (first half of 2021) of approximately RMB4.8 billion, whereas the net loss of the
group for the six months ended 30 June 2020 was approximately RMB2.45 billion.
The net loss recorded in the first half of 2021 was primarily attributable to the
development of the new energy vehicle business, which is in its early investment stage and
resulted in an increase in research and development and other related costs, and interest
payments. (RC)

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