China Evergrande appoints EV unit chairman as executive director

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The company logo is seen at the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song

Jan 23 (Reuters) – China Evergrande Group (3333.HK) said on Sunday it has appointed the chairman of its Energy Vehicle unit as chief executive.

Evergrande said in a Hong Kong Stock Exchange filing that Siu Shawn, 50, who was chairman of the board of China Evergrande New Energy Vehicle Group Limited (0708.HK), entered into a service contract for three years .

The scholarship filing indicated that both Lai Lixin and Huang Xiangui had resigned as executive directors of Evergrande.

Lai stepped down as executive director to devote more time to his other duties with the group, while Huang resigned for health reasons, according to the filing. Both will remain with the group.

Evergrande is the world’s most indebted real estate company, with more than $300 billion in total liabilities, including nearly $20 billion in international bonds, all deemed to be in default after a series of missed payments at the end of the year. last year.

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Reporting by Indranil Sarkar in Bangalore; Editing by Alexander Smith

Our standards: The Thomson Reuters Trust Principles.

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