(Yicai Global) Aug. 20 -- Evergrande Health Industry Group's shares, which have rallied over the past two months, slid today after the Chinese healthcare management company with aspirations to make new energy vehicles said that its shareholding is highly concentrated between 19 parties.

Evergrande Health's stock price [HKG: 0708] fell over 5 percent early this morning, after which it was 3.31 percent down at HKD30.65 (USD4) in the afternoon. By Aug. 5, the shares had jumped five-fold from June 10 when the firm said that it will buy the remaining stake in National Electric Vehicle Sweden to realize its car dreams.

The company's controlling shareholder had 75 percent of the equity, and 18 shareholders held almost 20 percent of the shares as of Aug. 5, which leaves about 5 percent for others, based on an inquiry by the Hong Kong Securities and Futures Commission, the Shenzhen-based firm said in its filing with the Hong Kong stock exchange yesterday.

Prospective investors should be cautious because even with small trades, the stock price could fluctuate substantially, the company added.

On July 27, Evergrande Health said that it will propose changing its name to Evergrande New Energy Vehicle Group at a shareholder meeting held today. That name should better fit its aspirations to become the world's biggest NEV maker, based on plans revealed last year.

On Aug. 3, the firm released its first group of six NEVs under its independent brand Hengci.

Editor: Emmi Laine