Evergrande Health's recently released 2019 performance report shows that its net loss in 2019 was 4.95 billion yuan, of which Evergrande's new energy vehicle business lost 3.31 billion yuan. It's not hard to see that the automotive business "drags" Evergrande's overall healthy performance.

In this regard, Pan Darong, CFO of Evergrande Health, said that automobiles belong to industries with relatively long payback periods, especially new energy vehicles. Throughout the world, they are all at a loss.

He said that he believes that the current loss is temporary. By 2021, after the full series of Hengchi products have been fully produced, our report data will be significantly improved, and we are full of confidence in the development of new energy vehicle business.

The announcement shows that Evergrande New Energy is currently developing 14 models simultaneously, covering a full range of products. The first model "Hengchi 1" will be unveiled this year, and Hengchi's full range of products will be in full production from 2021.

In October last year, Evergrande collaborated with 15 automotive styling designers from around the world.

Evergrande has stated that it will become the world's largest and most powerful new energy vehicle group within 3-5 years, and it will achieve an annual output of 5 million vehicles in the next 10-15 years.