After the liquidation of China Evergrande Group, the EV unit China Evergrande New Energy Vehicle has apparently found a buyer. Investors responded with surprise, sending the stock up by more than 100 percent.

At the end of January, the liquidation of China Evergrande Group, the world's most indebted real estate company, was ordered by a Hong Kong court. The property developer was unable to agree with its creditors on a plan for financial restructuring after the corporation repeatedly missed payments. This dissolution triggered a major real estate crisis in China.

It has now been revealed that the EV subsidiary China Evergract Evergrande New Energy Vehicle has found a buyer for a 29 percent stake, as reported by Reuters. According to the insolvency administrators, the unnamed buyer also has the option to acquire an additional 29.5 percent stake. Furthermore, the buyer is providing a line of credit to finance operations and business development, as indicated in the term sheet of the EV unit.

Investors of the Electric Vehicle Startup Reacted with Relief to the News. Hopes of Finding a Buyer Had Been Low. They Were All the More Surprised and Sent Shares of China Evergrande New Energy Vehicle in Hong Kong Soaring by over 113 Percent at Peak to 0.81 Hong Kong Dollars – a High Since Last September. By the End of Trading, a Gain of 84.21 Percent to 0.70 Hong Kong Dollars Still Showed on the Price Board.

Even the China Evergrande subsidiary Evergrande Property Services profited and climbed in the wake of the EV subsidiary by up to 21.52 percent to temporarily 0.96 Hong Kong dollars, before the shares ultimately closed up 5.06 percent at 0.83 Hong Kong dollars at the end of the day.

These developments show that despite financial difficulties and the liquidation of the parent company, it is possible to attract strategic investors for parts of the group. This could be a glimmer of hope for other areas of the company in trouble.