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….. But that Evergrande EV subsidiary company (0708.hk, 2.9 hkd)...

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catz987

748 Posts.

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20/09/21

21:00

Post #: 56218912
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Originally posted by Stephan90: ↑

I read that they pay creditors with discounted real estate. I never really counted on their cars being mass produced. Their EV subsidiary is takeover target, maybe for a tech company like Xiaomi. As for the rest of business, they created a bubble based on too much debt. It has to be deflated. Hopefully the Chinese government with their more "robust" interventions can contain this, so that it doesn't become Lehman 2.0. The underlying demand for EVs in China is there as long as the overall economy functions. I remember having read that a representative of the Chinese transport ministry thinks EV sales next year could be as a high as 5 million units in China vs. about 3 million this year.

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….. But that Evergrande EV subsidiary company (0708.hk, 2.9 hkd) hasn’t produced a single car yet. Makes me wonder what’s its worth ?

ORE Price at posting: $8.54 Sentiment: Buy Disclosure: Held
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