An indication on the outside of the China Evergrande New Power Car Group Ltd. analysis headquarters in Shanghai, China, on Friday, Sept. 24, 2021.
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Shares of the electrical car manufacturing arm of property developer China Evergrande plunged 23% on Monday after the unit revealed its vice chairman had been detained.
In a submitting to the Hong Kong change, Evergrande NEV introduced that “the corporate has discovered that its govt director Mr. Liu Yongzhuo has been detained in accordance with the legislation on suspicion of unlawful crimes.”
The submitting didn’t elaborate on the character of the crimes, nor when he was detained.
Evergrande NEV had referred to as for a buying and selling halt earlier than the Hong Kong market opened as we speak, and resumed buying and selling at 1 p.m. Hong Kong time.
Final week, Evergrande NEV shares fell greater than 18%, after the corporate revealed its planned share sale to U.S.-listed NWTN had been scrapped.
