On 5 April 2024, the Shimao Group was submitted to the liquidation of China Construction Bank (Asia) Co., Ltd., in the amount of approximately HK$15,795 million. Under the Companies Liquidation Ordinance, in the event of final liquidation, the disposal of property and the transfer of shares from that date will be void unless approved by a higher court. The transfer of company shares may be subject to uncertainty and Hong Kong Settlement may suspend related services. Simeo Group said it would oppose the liquidation petition and continue to push ahead with overseas debt restructuring. The company mentioned restructuring discussions with foreign creditors in its announcement of 25 March and encouraged creditors to support the restructuring plan. The Company will announce important developments and remind shareholders and investors to exercise caution.

On 5 April 2024, the Shimao Group was submitted to the liquidation of China Construction Bank (Asia) Co., Ltd., in the amount of approximately HK$15,795 million. Under the Companies Liquidation Ordinance, in the event of final liquidation, the disposal of property and the transfer of shares from that date will be void unless approved by a higher court. The transfer of company shares may be subject to uncertainty and Hong Kong Settlement may suspend related services. Simeo Group said it would oppose the liquidation petition and continue to push ahead with overseas debt restructuring. The company mentioned restructuring discussions with foreign creditors in its announcement of 25 March and encouraged creditors to support the restructuring plan. The Company will announce important developments and remind shareholders and investors to exercise caution.