On June 27, 2024, Sino-Ocean GP received a liquidation notice from the London Branch of Bank of New York Mellon in the United States, involving unpaid 3.25% secured notes with a total principal amount of US$400 million and accrued interest. The notes were issued by Sino-Ocean Real Estate Treasure IV Co., Ltd. and guaranteed by Sino-Ocean GP. Sino-Ocean GP stated that it has made significant progress in overall debt management arrangements and discussions with the coordinating committee of lenders have entered the final stages, and an agreement is expected to be reached. The company will oppose the liquidation request and seek legal measures to protect its legitimate rights. At the same time, the company's shares may be suspended...Show More

On June 27, 2024, Sino-Ocean GP received a liquidation notice from the London Branch of Bank of New York Mellon in the United States, involving unpaid 3.25% secured notes with a total principal amount of US$400 million and accrued interest. The notes were issued by Sino-Ocean Real Estate Treasure IV Co., Ltd. and guaranteed by Sino-Ocean GP. Sino-Ocean GP stated that it has made significant progress in overall debt management arrangements and discussions with the coordinating committee of lenders have entered the final stages, and an agreement is expected to be reached. The company will oppose the liquidation request and seek legal measures to protect its legitimate rights. At the same time, the company's shares may be suspended from being deposited in the central clearing system due to the request, and share transfers may be restricted. The overseas US dollar securities have been suspended from trading since September 15, 2023 and will continue to be suspended until further notice. Company securities holders and potential investors should act prudently and consider the related risks. The company will make further announcements to shareholders and investors on the progress of debt management arrangements and significant progress in the liquidation request.