Jianhong Group (01557.HK) announced that the company and its subsidiary, Jianhong Foundation, are actively dealing with Bank of E Asia's liquidation application submitted to the High Court on June 21st, and are seeking legal opinions on the application. After receiving the application, the company and Jianhong Foundation have been negotiating with the applicant on possible repayment plans to reach a friendly settlement on the application.

The company stated that as of today, there are sufficient financial resources to repay the outstanding loan in the application, and the application has not caused significant adverse effects on the financial performance, financial condition and daily operations. In addition to the credit line provided by the applicant to Jianhong Foundation, there are no other bank loans or other loans, so the application does not trigger cross-default clauses for the company's bank loans or other loans.