HONG KONG (Reuters) - Shares of China Evergrande New Energy Vehicle Group ( EVGRF ) plunged 27% on Wednesday after it said it faces the risk of losing key assets such as land and equipment.

The subsidiary of developer China Evergrande ( EGRNF ) said late on Tuesday that local administrative bodies had demanded repayment of 1.9 billion yuan ($261.91 million) in subsidies by its units.