Core Viewpoint - China Evergrande Group will be delisted from the Hong Kong Stock Exchange on August 25, 2025, due to failure to meet the resumption guidelines set by the exchange [1][3]. Group 1 - The last trading day for the company's shares will be August 22, 2025, after which the shares will remain valid but will not be tradable on the exchange [3][4]. - The company has no intention to appeal the decision made by the listing committee regarding the delisting [4]. - The liquidators plan to provide a report to the company's stakeholders outlining the progress of liquidation from January 29, 2024, to July 31, 2025 [4][5]. Group 2 - Evergrande's shares have been suspended from trading since January 29, 2024, following a court-ordered liquidation [5]. - The liquidators are tasked with preserving company assets, returning value to creditors, and investigating the reasons for the liquidation [5]. - Despite some recovery of value from company assets, the liquidators have not identified a restructuring plan that would allow the company to meet the resumption guidelines and avoid delisting [5]. Group 3 - As of August 11, 2023, Evergrande Real Estate Group has been involved in multiple legal cases, with a total execution amount exceeding 2.71 billion yuan related to various disputes [6]. - The company currently has over 590 execution records, with a total amount exceeding 59.2 billion yuan, along with several consumption restrictions and dishonesty records [6].

Core Viewpoint - The company, South China City (01668), is facing a winding-up petition filed by Citigroup International Limited in the High Court of the Hong Kong Special Administrative Region, with the court ordering the winding-up on August 11, 2025 [1] Group 1 - The winding-up petition was filed on January 27, 2025 [1] - The High Court appointed Mr. Zhou Weicheng and Mr. Pan Luyang from Fushigao Consulting Limited as joint and several liquidators on August 11, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致的任何損失承擔任何責任。 自刊發本公司截至2024年12月31日止財政年度年報中披露本公司已取得位於塞班島的一間酒 店及中國太原市的一個住宅物業項目的裝修及室內裝飾工程（合約總金額約為人民幣 182,685,882元）後，本公司再取得7個中國酒店及娛樂場所的裝修及室內裝飾以及設計項目 （合約總金額約為人民幣84,442,288元）。塞班島及太原市的項目已開始施工，截至本公告日 期仍在進行中。 WenyeGroupHoldingsLimited 文業集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號﹕1802） 有關實施處理不發表意見行動計劃 的季度最新情況 茲提述(i)本公司日期為2024年1月2日的公告（「達成復牌指引公告」），內容有關（其中包 括）本公司為處理截至2022年12月31日止兩個財政年度全年業績中對持續經營作出不發表意 見（「不發表意見」）的行動計劃，(ii)本公司截至2024年12月31日止兩個財政年 ...

Core Viewpoint - The company, Jiyi Holdings (01495), has filed for liquidation in the High Court of the Hong Kong Special Administrative Region due to unpaid wages, annual leave, and interest claims totaling HKD 326,000 as of June 30, 2025 [1] Group 1 - The liquidation petition was submitted by Mr. Luo Weizhao on July 28, 2025 [1] - The petition was served to the company's office on July 30, 2025 [1] - The total amount claimed includes unpaid wages, unpaid annual leave, and interest, minus a counterclaim made by the company based on a Labor Tribunal ruling from February 10, 2025 [1]

Group 1 - The article highlights that Xu Jiayin's ex-wife, Ding Yumei, allegedly acquired hundreds of billions in dividends through a "technical divorce" and purchased luxury properties in London for approximately £49.8 million (about HK$5.27 billion) [1][2] - Ding Yumei reportedly purchased 33 units in the Thames City project, with the acquisition occurring in September 2022, nearly a year after authorities urged Xu Jiayin to use personal assets to settle debts [2][3] - Following the court's decision, a global asset freeze order was issued, preventing Xu Jiayin, Ding Yumei, and other executives from handling assets valued at around HK$60 billion, including Ding Yumei's bank deposits and luxury apartments in the UK [4][3] Group 2 - China Evergrande's non-performing assets and debts are being accelerated for disposal, with 12 companies' bad debts totaling approximately 11.3 billion yuan being put up for sale, covering various projects across major cities [7] - Among the disposed debts, one is from Evergrande Real Estate Group, amounting to 1.092 billion yuan, secured by collateral properties in Guangzhou [7] - In January, Evergrande and Xu Jiayin were restricted from high consumption due to a court ruling related to a forced execution of over 6.054 billion yuan [7]

Core Viewpoint - The article discusses the financial maneuvers of Ding Yumei, the ex-wife of Evergrande's founder Xu Jiayin, who allegedly utilized a "technical divorce" to secure substantial dividends from Evergrande amidst the company's ongoing financial troubles and asset liquidation [1][3]. Group 1: Financial Maneuvers and Asset Purchases - Ding Yumei is reported to have acquired luxury properties in London worth approximately £49.8 million (around HK$5.27 billion) through five offshore companies, following Evergrande's loan default [1][3]. - A court document from January indicates that Ding Yumei purchased 33 units in the Thames City project, with the acquisition date being September 2022, nearly a year after authorities urged Xu Jiayin to use personal assets to settle debts [3][4]. Group 2: Legal Proceedings and Asset Freezing - Following Evergrande's bankruptcy proceedings, the Hong Kong High Court issued a global asset freeze order against Xu Jiayin, Ding Yumei, and other executives, prohibiting them from handling assets valued at approximately HK$60 billion, including Ding Yumei's properties in the UK [4][5]. - Ding Yumei's attempts to amend the asset freeze order and request a closed hearing were denied by the court, which emphasized the public interest in maintaining transparency during the liquidation process [5]. Group 3: Asset Liquidation and Debt Management - Evergrande is accelerating the disposal of its non-performing assets, with 12 companies under the Evergrande umbrella listing bad debts totaling approximately RMB 11.3 billion, covering various projects across major cities [6][7]. - The company has faced restrictions on high consumption due to court rulings related to significant debts, with a forced execution amounting to over RMB 6.054 billion [7].

Group 1 - Evergrande is accelerating the disposal of its non-performing assets, with 12 companies' bad debts totaling approximately 11.3 billion yuan being put up for sale [1] - The bad debts are held by China Great Wall Asset Management Corporation's Beijing branch, covering projects in major cities such as Beijing, Tianjin, Nanchang, and Chengdu [1] - Specific debts include Beijing Hengfangxing Real Estate with a total debt of 1.387 billion yuan, Zhengzhou Hengzetong Health Real Estate with approximately 1.604 billion yuan, and Wuxi Hengrui Real Estate with about 549 million yuan [1][2][3] Group 2 - The total debt of three related companies in Guiyang amounts to 1.142 billion yuan, all involving collateral and guarantees from Evergrande [4] - Chengdu Jinjianjiang Real Estate has a total debt of 1.675 billion yuan, secured by multiple land parcels and properties [4] - Tianjin Shanshui City Investment and related properties have a combined debt of 2.477 billion yuan, backed by the Tianjin Wuqing Evergrande Shanshui City project [5] Group 3 - CEG Holdings, a subsidiary of Evergrande, has been placed under liquidation, with the Hong Kong High Court appointing joint and individual liquidators [5][7] - As of September 12, 2024, CEG holds approximately 5.368 billion shares of Evergrande Property, representing about 49.65% of the total issued shares [7] - The court ruling restricts participation in the liquidation process to statutory creditors, excluding economic interest holders and shareholders from decision-making [7]

Core Viewpoint - The "Evergrande system" has put 12 companies' non-performing debts on the market, totaling approximately 11.3 billion yuan, with assets spread across major cities and various project types [1][3]. Group 1: Non-Performing Debts - The total amount of non-performing debts from the 12 companies is about 11.3 billion yuan, with all debts held by China Great Wall Asset Management Co., Ltd. Beijing Branch [1][3]. - The projects involved are located in cities such as Beijing, Tianjin, Nanchang, and Chengdu, covering residential, commercial, and cultural tourism sectors [1][3]. Group 2: Specific Debt Examples - In Beijing, a debt from Beijing Hengfangxing Real Estate Co., Ltd. totals 1.387 billion yuan, with principal at 1.186 billion yuan and interest exceeding 200 million yuan [5]. - In Tianjin, one debt from Chengdu Jinjingjiang Real Estate Development Co., Ltd. amounts to 1.675 billion yuan, with principal at 1.48 billion yuan and interest at 195 million yuan [5]. - Another Tianjin debt from Tianjin Shanshui City Investment Co., Ltd. totals 2.477 billion yuan, with principal at 1.366 billion yuan and interest at approximately 59 million yuan [5]. - In Nanchang, a debt from Nanchang Hengfu Real Estate Co., Ltd. totals 604 million yuan, with principal at 510 million yuan and interest at approximately 9.39 million yuan [6]. Group 3: Liquidation Developments - On June 9, China Evergrande announced the appointment of joint liquidators for its subsidiary CEG Holdings, following a court order from the Hong Kong High Court [8]. - The liquidation process aims to preserve the group's assets for the benefit of creditors and other stakeholders [8][11]. - The Hong Kong High Court has ruled that only statutory creditors can participate in the liquidation process, excluding economic interest holders [11].

Core Viewpoint - China Evergrande Group is undergoing liquidation, with significant implications for its shareholders and creditors, as the Hong Kong High Court has ruled that only statutory creditors can participate in the liquidation process, excluding economic interest holders [6][7]. Group 1: Liquidation Process - China Evergrande Group has been in liquidation since January 29, 2024, with trading of its shares suspended until further notice [6][7]. - The joint application to the Hong Kong High Court by the liquidators seeks to revoke a previous transfer of shares in CEG Holdings, which was deemed a undervalued transaction under British Virgin Islands law [5][6]. - The liquidators are tasked with preserving company assets, returning value to creditors, and investigating the causes of the company's liquidation [7]. Group 2: Court Rulings and Implications - The Hong Kong High Court has ruled that only statutory creditors can be members of the Committee of Inspection (COI), explicitly excluding shareholders from decision-making processes [6][7]. - The court emphasized that the liquidation process must be based on legal rights rather than economic interests to prevent procedural chaos and abuse of power [6][7]. - The ruling also noted that shareholders have no residual asset distribution rights due to the company's insolvency, and there are concerns about potential historical misconduct by controlling shareholders [7]. Group 3: Financial Challenges - Despite some recovery of value from company assets, China Evergrande continues to face significant challenges due to its high debt levels and limited internal resources [7]. - The liquidators have not yet identified a restructuring plan that would allow the company to meet the requirements for resuming trading of its shares [7].

Core Viewpoint - The recent execution reward announcement by the Shenzhen Qianhai Cooperation Zone People's Court has exposed legal issues surrounding Zhong Baisheng, the chairman of Tengbang Group, involving an unexecuted amount exceeding 30,000 yuan [1][6]. Group 1: Company Background - Zhong Baisheng is the founder and chairman of Tengbang Group, which includes Tengbang Holdings, a delisted H-share company, and Tengbang International, which has also been delisted from A-shares [2]. - Tengbang Holdings was the first company to be delisted in Hong Kong in 2025, with its trading suspended since April 3, 2023, and its listing status canceled on January 3, 2025 [6]. Group 2: Legal Issues - The unexecuted amount of over 30,000 yuan includes related debt interest, execution fees, and actual expenses incurred during the execution process [6]. - Tengbang Holdings was ordered into liquidation by the Hong Kong High Court in September 2023, and a stock auction for its pledged shares failed to attract bids, indicating a lack of investor interest [8]. - Legal compliance issues have plagued the "Tengbang system," with past administrative penalties from the China Securities Regulatory Commission for failing to disclose significant information [10]. Group 3: Ongoing Litigation - Zhong Baisheng and former executives of Tengbang Group have been involved in numerous lawsuits, with over a hundred civil cases initiated against former executives, some of whom have faced multiple lawsuits [10]. - The recent execution reward announcement highlights the deepening conflicts between Zhong Baisheng and related parties, indicating a severe breakdown in relationships [11]. - The refusal to pay a court-ordered lawyer fee of over 30,000 yuan has been cited as a direct trigger for the execution reward announcement [13].