The principal business activities of China Evergrande New Energy Vehicle Group Limited (the "Company") and its subsidiaries (the "Group") include the technology research and development ("R&D") and manufacturing of, and sales services in respect of new energy vehicles, namely under the model series name "Hengchi". The Group had also operated in the health management business, which was discontinued and the disposal of such business was completed in May 2023.
The Group also actively responds to the national strategy of building a strong country through science and technology, and forayed into the new energy automobile industry with a huge market scale by forward planning. Dedicated to the global R&D and promotion of new energy vehicles applications, the Group adheres to its vision of "achieving world-class core technology and proprietary intellectual property rights" in terms of its core technologies, and its goal of "achieving world-class product quality" in terms of quality, and has established a full industry chain of new energy vehicles covering automobile manufacturing, electric motor control, vehicle sales, smart charging and other aspects. Through the closed loop of technology and data, the Group will create an intelligently connected mobile space of "car and home integration", and establish Hengchi as a world-renowned Chinese automobile brand.
For the six months ended 30 June 2023 (the "Reporting Period"), the Group had continued to focus on the high-quality production and delivery of the Hengchi 5 model, carry out improvements and streamlining of the production management system and to lay a solid foundation for future mass production. Among all orders under the pre-sale of Hengchi 5, which was commenced in July 2022, over 760 units were delivered during the Reporting Period. In terms of R&D achievements, the Group had applied for a total of 3,512 patents in similar fields of study worldwide, 2,715 of which have been granted patents.
updated as per 2023 Interim Report
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