Evergrande Auto's 2023 first half financial report released, revenue increased but losses widened

In the first half of 2023, Evergrande Auto achieved revenue of 154 million yuan, a year-on-year increase of 540.98%, mainly due to the sales of Hengchi 5. However, the company's gross loss reached 60.88 million yuan, a year-on-year increase of 531.54%, mainly due to rising prices of core components such as batteries and chips and high manufacturing costs caused by the lack of large-scale production. In addition, the company's net loss totaled 6.873 billion yuan, a year-on-year reduction of 48.6%.