Zhitong Finance App News, China Huaxing (00485) issued an announcement. On May 17, 2024, the company received a winding-up petition against the company in the High Court of the Hong Kong Special Administrative Region of China on the same day. The petition was made by Ms Qian Hui (holder of Bond B) to wind up the company in accordance with the provisions of the Companies (Liquidation and Miscellaneous Provisions) Ordinance, Chapter 32 of the Laws of Hong Kong. The petition, which relates to outstanding amounts of Bond B totaling HK$3,9019 million, will be heard in the High Court at 10:00 a.m. on 31 July 2024.

The company is seeking legal advice and consulting with the petitioner to reach a settlement on the matter, and will notify its shareholders and investors of any significant developments relating to the petition in due course.