Core Viewpoint - China Water Affairs Group (01129) is facing a liquidation petition submitted by the International Finance Corporation, with a creditor indicating intent to support the petition during the hearing scheduled for January 21, 2026 [1] Group 1: Financial Obligations - The company has an outstanding debt of HKD 3 million related to bonds issued on April 6, 2018 [1] - A creditor named Gao Yuan has expressed the intention to attend the hearing to support the liquidation petition [1] Group 2: Legal Proceedings - As of the announcement date, the court has not issued a liquidation order against the company [1] - The company is seeking legal advice to determine the next steps regarding the petition and potential actions [1] Group 3: Communication and Negotiation - The company aims to maintain proactive and positive communication with the petitioners and supporting creditors [1] - Efforts will be made to negotiate amicably with the petitioners and supporting creditors while ensuring fairness to other creditors [1] - The company will strive to encourage the withdrawal of the petition as soon as possible [1]

Core Viewpoint - China Water Affairs Group (01129) is facing a liquidation petition submitted by the International Finance Corporation, with a creditor indicating intent to support the petition during the hearing scheduled for January 21, 2026 [1] Group 1 - The company received a notice regarding an unpaid debt of HKD 3 million, which is the principal amount of bonds issued on April 6, 2018 [1] - As of the date of the announcement, the court has not issued a liquidation order against the company [1] - The company is seeking legal advice to determine the next steps regarding the petition and is committed to maintaining proactive communication with the petitioners and supporting creditors [1] Group 2 - The company aims to negotiate amicably with the petitioners and supporting creditors while ensuring fairness to other creditors [1] - Efforts will be made to encourage the withdrawal of the petition as soon as possible [1]

Core Viewpoint - China Tiangong Holdings (00428) has received a winding-up petition from Ms. Zhou Xin, claiming to be a holder of the company's issued promissory notes, alleging that the company failed to repay approximately HKD 11.1 million in principal and unpaid interest [1] Group 1: Legal Proceedings - The petition has not yet been verified by the petitioner’s affidavit, which is pending certification and notarization in China before submission to the court [1] - The hearing for the petition is scheduled for December 31, 2025, at the Hong Kong High Court [1] - The court has not issued any winding-up order against the company as of the announcement date [1] Group 2: Company Response - The company emphasizes that the petition currently has no significant adverse impact on its business operations [1] - The company is considering various options regarding the petition, including seeking a court order to dismiss or stay the petition on the grounds of abuse of process, with costs to be borne by the petitioner [1] - The company will inform its shareholders and the public of any significant developments regarding the petition and will issue further announcements as appropriate [1]

Core Viewpoint - China Resources Transportation (00269) is facing a winding-up petition submitted by Zuo Ya Financing Limited due to an unpaid amount of approximately HKD 608,900 related to financial advisory services provided between 2016 and 2017 [1] Group 1 - The winding-up petition was filed on September 15, 2025, in the High Court of the Hong Kong Special Administrative Region [1] - The petition does not imply that the petitioner has successfully initiated the winding-up of the company [1] - As of the date of the announcement, the High Court has not issued a winding-up order against the company [1] Group 2 - The High Court has scheduled the first hearing regarding the petition for November 19, 2025 [1]

Core Viewpoint - China Art Financial (01572) has received a statutory demand for repayment from creditor Lin Xiaomei, requiring the company to settle outstanding loans and interest by August 29, 2025, or face potential liquidation [1] Summary by Relevant Sections - **Outstanding Loans and Interest** - The total outstanding loan amount due by September 30, 2024, along with agreed interest, is approximately HKD 7.8949 million - Interest accrued from October 1, 2024, to August 28, 2025, amounts to HKD 279,900 - Default interest from June 19, 2025, to August 28, 2025, totals HKD 278,800 [1] - **Consequences of Non-Payment** - If the company fails to make the payment within the stipulated 21 days after the statutory demand is served, the creditor may file for the company's liquidation [1]

Core Viewpoint - Capital界金控 (00204) has received a winding-up petition from creditors due to unpaid loans totaling HKD 6.2 million, including interest, with a court hearing scheduled for October 22, 2025 [1] Group 1 - The company submitted a winding-up petition to the High Court of the Hong Kong Special Administrative Region on August 11, 2025 [1] - The petition is based on the unpaid principal amount of loans that were pre-paid by the petitioners [1] - The hearing for the petition is set for October 22, 2025 [1]

Group 1: Zhengxinglong Real Estate - Zhengxinglong Real Estate announced the suspension of bonds "21 Lvjing 01" and "21 Lvjing 02" due to significant uncertainties, effective from August 13 [1] - The company reported a substantial net loss of 3.81 billion yuan in 2024, compared to a loss of 718 million yuan in 2023, marking a year-on-year decline of 430.30% [2][3] - The company has two outstanding bonds with a total scale of 976 million yuan [2] Group 2: Sunac Real Estate - Sunac Real Estate reported an additional overdue loan principal of 1.089 billion yuan, with a total overdue principal of 107.103 billion yuan as of June 30, 2025, and nine new instances of dishonesty [2] - The company experienced a net loss of 16.694 billion yuan in 2024, following a loss of 35.398 billion yuan in 2023 [3] - Sunac has 19 outstanding bonds with a total scale of 10.757 billion yuan [4] Group 3: Lanhua Coal - Lanhua Coal's subsidiary, Yamei Danning, is involved in a significant arbitration case, with claims for extending the cooperation period until May 12, 2030, and compensation for economic losses [4] - The company reported an increase in borrowings of 6.745 billion yuan, with 5.245 billion yuan from bank loans and 1.5 billion yuan from non-financial corporate debt financing tools, representing 36.58% of the net assets as of the end of 2024 [4] - Lanhua Coal has two outstanding bonds with a total scale of 1 billion yuan [4][6] Group 4: Shengyan Industrial - Shengyan Industrial's important subsidiary has been newly listed as a dishonest executor, involving an amount of 174,750 yuan, and is subject to high consumption restrictions [5] - The company reported a net loss of 1.12 billion yuan in 2024, compared to a loss of 1.945 billion yuan in 2023 [5][6] - Shengyan has two outstanding bonds with a total scale of 1.138 billion yuan [6] Group 5: South China City - South China City announced the suspension of its shares following a court-ordered liquidation on August 11, 2025, initiated by creditor Citigroup International [7] - The company recorded its first significant loss since listing, with a net loss of 8.986 billion HKD in 2024, and 15.742 billion HKD in overdue borrowings [8] - South China City has five outstanding offshore bonds with a total balance of 1.3203 billion USD, of which 1.093 billion USD has defaulted [9] Group 6: Chuan Cai Securities - Chuan Cai Securities received a warning from the Sichuan Securities Regulatory Bureau due to multiple compliance issues in its bond trading business [10] - The company reported a revenue of 296 million yuan in 2024, a decline of 16.18% year-on-year, with a net profit of 15.0427 million yuan, down 38.64% [10]

Core Viewpoint - The company, South China City (01668.HK), anticipates a significant loss of up to HKD 90 billion for the fiscal year 2024, with a first liquidation hearing scheduled for April 2025 [1][4]. Financial Performance - For the fiscal year ending December 31, 2024, the company expects a post-tax loss between HKD 80 billion and HKD 90 billion, primarily due to increased inventory impairment provisions, deferred tax asset reversals, reduced capitalization of interest on properties under construction, and fair value losses on investment properties [3][4]. - In the first half of 2024, the company reported revenue of HKD 1.215 billion, a year-on-year decline of 51.7%, with a gross profit of HKD 347 million and a gross margin of 28.5%. The loss for the period reached HKD 43.11 billion, an increase of 593.7% year-on-year [5]. Corporate Actions - The company has delayed the payment of the final dividend for the fiscal year ending March 31, 2023, and is contesting a liquidation petition filed by Citigroup International Limited regarding a USD 306.17 million debt related to its 9.0% senior notes maturing in April 2024 [4]. - The first hearing for the liquidation petition is set for April 2, 2025 [4]. Company Overview - South China City is a comprehensive trade and logistics enterprise listed on the Hong Kong Stock Exchange, established in May 2002. The company primarily generates revenue from property sales, particularly residential sales, despite its operational model being "trade and logistics+" [4].