Shares of China Evergrande New Energy Vehicle tumble as H1 loss widens

Shares of China Evergrande New Energy Vehicle fell as much as 5.6 percent on Tuesday after the electric vehicle maker posted a wider loss for the first half.

The stock was trading down 3 percent at 0155 GMT, lagging a 0.7 percent fall in the benchmark Hang Seng Index and a 0.1 percent gain in the Hang Seng Tech Index.

The unit of debt-laden China Evergrande Group said its first-half net loss widened to 4.79 billion yuan as compared to a 2.27 billion yuan loss in the same period a year earlier.

It said its EV mass production timetable may be delayed if it lacks further capital in the short term. – Reuters

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