On August 26, Evergrande Health (00708), a company listed on the Hong Kong Stock Exchange, issued an announcement stating that Evergrande Health Industry Group Co., Ltd. has officially changed its name to China Evergrande New Energy Vehicle Group Limited, the stock abbreviation for shares traded on the Stock Exchange will be officially changed at 9 a.m. on September 1, 2020, from “EVERG HEALTH” to “EVERG VEHICLE”, and the Chinese will be changed from “恒大健康” to “恒大汽车”. The stock code remains unchanged.
Evergrande’s name change can be traced back to one month ago. On July 27 this year, Evergrande Health issued an announcement stating: In view of the fact that new energy vehicles have become the most important business of the group, the board of directors recommended that the company’s name be changed to China Evergrande New Energy Vehicle Group Co., Ltd., referred to as ” EVERG VEHICLE “.
It means that the future automotive business will become the company’s main business. At present, EVERG VEHICLE is making every effort to develop its new energy vehicle business, and has built a new energy vehicle industry chain covering power batteries, powertrains, advanced vehicle manufacturing, vehicle sales, and smart charging, and strives to become a global scale and one of the largest and strongest new-energy vehicle group within 3-5 years.
In terms of product rhythm, on August 3, EVERG VEHICLE released the first six cars with the “Hengchi” brand in Shanghai and Guangzhou at the same time. They are two sedans, three SUVs, and one MPV model. The generous style has attracted widespread attention in the industry. It is reported that EVERG VEHICLE is currently promoting 14 new models at the same time, and the full range of Hengchi products will be mass-produced in 2021.