China Evergrande's EV arm warns of bigger loss for first half

China Evergrande New Energy Vehicle

27/08/2024 16:18

Aug 27 (Reuters) - China Evergrande New Energy Vehicle
 0708.HK , the electric vehicle unit of troubled property giant
China Evergrande,  3333.HK  said on Tuesday it expects to report
a bigger loss for the first half of fiscal 2024. 
    The company estimated a consolidated net loss of about 20.25
billion yuan ($2.84 billion) for the six months ended June 30,
compared with 6.87 billion yuan in the same period a year
earlier.

($1 = 7.1237 Chinese yuan renminbi)

 (Reporting by Aaditya Govind Rao in Bengaluru; Editing by
Sriraj Kalluvila)
 ((Aaditya.GovindRao@thomsonreuters.com;))