China Wan Tong Yuan (06966.HK) announced that Dexin China (02019.HK) was ordered to wind up by the Hong Kong High Court on June 11th. Dexin China or any of its subsidiaries are not related to the group. As the winding-up order does not involve the group, it does not affect the group's business and operations.

The group pointed out that their independent non-executive director, Wang Yongquan, had been serving as an independent non-executive director of Dexin China since January 11, 2019, until he resigned from the position effective immediately on June 11th this year. He confirmed that he has no connection to the winding-up order or any related allegations against Dexin China. He is not one of the defendants or parties to the winding-up order and is not aware of any actual or potential claims against him arising from the winding-up order.

The above-mentioned winding-up order was made by China Construction Bank (Asia) in relation to a winding-up petition filed against Dexin China in respect of its unpaid principal amount of USD 350 million of the maturing 9.95% preference notes due in December 2022 and accrued interest.