jingrui hldgs (01862.HK) announced that China CITIC Financial Assets International submitted a winding-up petition to the High Court last Thursday (10th) against the company, citing the company's debt to China CITIC Financial Assets International for the financing of loans owed by its subsidiary, Natural Apex Limited, in the amount of approximately 0.108 billion US dollars, plus accrued interest and penalties. The petition is scheduled to be heard in the High Court on December 18, 2024.

The company stated that it will strongly oppose the petition, believing that the petition is not in the interest of other stakeholders and may diminish the company's value. The company will take prompt action to resolve the dispute with the petitioner and push for the withdrawal of the petition. It is expected that the petition will not have a significant impact on the group's overall domestic operations in the short term.