Summary by Futu AI
HENGDAI GROUP OF CHINA (IN LIQUIDATION) ISSUED A QUARTERLY UPDATE NOTICE ON 28 MAY 2024 TO INFORM SHAREHOLDERS AND POTENTIAL INVESTORS OF THE LATEST PROGRESS IN THE REVOCATION GUIDELINES. Since the suspension of trading of shares on 29 January 2024, the liquidator has been investigating the company's business and affairs and taking measures to maintain and transform the Group's assets. Despite limited asset recoveries, liquidators have yet to find solutions that meet the Recycling Guidelines due to limited liquidity and other internal resources, coupled with high debt levels and business challenges and a lack of new investment. The shares will continue to be delisted from 29 January 2024 until further notice. Announcements are issued by the joint and the representatives of the liquidators.