It is reported that the first transition fund invested by Evergrande in the Middle East war has arrived today, with a total amount of 600 million yuan.

CTOnews.com August 21 news, according to @ Financial Associated Press App reported that Evergrande's latest introduction of the first transition funds of the investment side, today has arrived on schedule.

CTOnews.com previously reported that Evergrande received a HK $3889723903 (US $500m) strategic investment from Dubai-based Nadaq:NWTN, which holds about 27.50 per cent of the issued shares, meaning the subscription price for each subscription share is HK $0.6297.

At the same time, Evergrande signed a transitional financial support agreement with NWTN Group to provide Evergrande with interest-free and guaranteed transitional funds totaling RMB600 million in three installments for the Tianjin plant to ensure the normal production of Hengchi 5 and the mass production of Hengchi 6 and 7. NWTN Group will also assist Evergrande to open up overseas markets and export 30,000 to 50,000 Hengchi vehicles to the Middle East market every year.

It is understood that Evergrande lost 27.664 billion yuan in 2022. As of December 31, 2022, the Group's cumulative losses and shareholders' losses were 98.906 billion yuan and 68.651 billion yuan respectively. Cash and cash equivalents were $220 million as at 31 December 2022.

The group incurred a loss of 56.344 billion yuan in 2021 (2020: 7.665 billion yuan). As at 31 December 2021, the Group's cumulative losses and shareholders' losses were 71.241 billion yuan (2020: 12.997 billion yuan) and 39.339 billion yuan (2020: 5.839 billion yuan) respectively. Cash and cash equivalents as at 31 December 2021 were 2.453 billion yuan (2020: 10.476 billion yuan).