Glonghui September 22丨Yutai Zhongcai Holdings (00555.HK) announced,According to the order of the High Court of the Hong Kong Special Administrative Region made on August 20, 2020 (“Liquidation Order”), the company was ordered to be liquidated, and the Director of Bankruptcy Administration was appointed as the provisional liquidator of the company.

Jian Liqi and Hou Chung Wen (collectively the “Liquidators”) of Xinyong Zhonghe Advisory Services Limited were appointed as joint and individual liquidators of the Company, effective from the date of the Act.

The liquidator is taking steps to understand the affairs of the company and its subsidiaries. Meanwhile, the company's management is currently raising capital to repay the company's debts and intends to propose or implement a debt restructuring plan, and apply to permanently put the liquidation process on hold once the fund-raising is completed.

Trading continues to be suspended.