China Evergrande Faces Compliance Issue After Director Exit

China Evergrande New Energy Vehicle Group (HK:0708) has released an update.

China Evergrande New Energy Vehicle Group faces compliance challenges following the resignation of independent director Kenan Wang, who disagreed with the management over asset disposal issues. This departure leaves the company short of required independent directors, impacting key committees. The company is actively seeking replacements to meet regulatory requirements within three months.

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