EVERG VEHICLE (00708) Announces 2025 Annual Results: Loss Attributable to Shareholders of RMB 891 Million, Turning from Profit to Loss Year-on-Year

EVERG VEHICLE (00708) Announces 2025 Annual Results: Loss Attributable to Shareholders of RMB 891 Million, Turning from Profit to Loss Year-on-Year EVERG VEHICLE (00708) released its annual results for the year ended December 31, 2025. During the period, the Group recorded revenue of RMB 13.011 million (the same unit below), a year-on-year decrease of 75.59%; loss attributable to shareholders of RMB 891 million, turning from profit to loss year-on-year; basic loss per share of 8.218 cents. The announcement stated that the decrease in revenue was mainly due to revenue from the provision of technical services declining from RMB 25.37 million in 2024 to RMB 12.87 million in the reporting period, and as the Group terminated its property development activities, there were no property sales during the reporting period (2024: RMB 22.28 million). The technical services business serving European customers was the Group's main and recurring source of revenue during the reporting period. During the reporting period, the Group's revenue was mainly derived from the provision of technical services to European customers through National Electric Vehicle Sweden AB (NEVS, an indirectly wholly-owned subsidiary of the Company incorporated in Sweden) (the technical services business). The Group also continued to prepare for the launch of a lithium-ion battery trading business (the battery trading business). As at the date of this announcement, the Group no longer operates any automobile manufacturing business. All of the Group's production facilities in China have been sold or are in the process of being sold through the disposal or bankruptcy proceedings of the relevant PRC subsidiaries, and the Group's principal business activities are conducted through its Hong Kong headquarters and NEVS under an asset-light operating model.