On July 9th, Grallant announced that China Huajun GP (00377.HK) has submitted an application to the High Court of Hong Kong to convene a meeting of the company's existing creditors to consider and approve (whether or not modified) the proposed debt repayment arrangement plan between the company and its creditors according to Section 670 of the Company Regulations under Chapter 622 of the Hong Kong Legislation. According to a unilateral original summons with a date of July 9, 2024, the related application plan will be held at 10:00 am on November 13, 2024. According to the court order, the details of the plan meeting will be included in the plan meeting notice, which will be provided to the planned creditors together with other relevant documents related to the arrangement plan.

The company also intends to apply for an extension of the hearing of the application, which is scheduled to be heard by the company judge of the High Court on August 19, 2024, pending the results of the arrangement plan review.