Hengda’s Tianjin factory is temporarily suspended, and the cumulative delivery of Hengchi 5 is less than 1,000 vehicles

  China Economic Net April 26th (reporter, Guo Yue) April 24th, Hengda Automobile (stock code: 00708.HK) announced that the company will sell its 47 health space projects to China Hengda Group at a price of 2 yuan, in order to focus more on the development of new energy vehicles. The announcement also disclosed that due to lack of funds, Hengda Tianjin factory has temporarily suspended production of Hengchi 5, and is expected toMayResume production.

  Specifically, Hengda Automobile said that the sale of the health space project is due to the huge capital demand involved in the new energy vehicle project, coupled with the current situation of Hengda Group, so continuing to invest resources in the health space project is not in line with the group’s overall deleveraging strategy, and may also limit the development of new energy vehicles. The company hopes to achieve more focused and professional development of new energy vehicles by reducing its holdings of non-main business assets.

  The announcement also said that due to insufficient funds, Hengda’s Tianjin factory will temporarily suspend production of Hengchi 5 and is expected toMayResume production. According to Hengda Automobile’s announcement on March 22, as of the announcement date, the company has delivered more than 900 Hengchi 5 vehicles to users.