An indication on the outside of the China Evergrande New Energy Vehicle GroupLtd research study head office in Shanghai, China, on Friday,Sept 24, 2021.
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Shares of the electrical lorry production arm of residential or commercial property designer China Evergrande plunged 23% on Monday after the system exposed its vice chairman had actually been apprehended.
In a filing to the Hong Kong exchange, Evergrande NEV revealed that “the company has learned that its executive director Mr. Liu Yongzhuo has been detained in accordance with the law on suspicion of illegal crimes.”
The filing did not elaborate on the nature of the criminal activities, nor when he was apprehended.
Evergrande NEV had actually required a trading stop before the Hong Kong market opened today, and resumed trading at 1 p.m. Hong Kong time.
Last week, Evergrande NEV shares fell more than 18%, after the business exposed its scheduled share sale to U.S.-listed NWTN had actually been ditched.
