Core Viewpoint - China Tian Gong Holdings (00428) has reached a settlement agreement regarding a HKD 10 million promissory note issued in 2017, which is set to mature on March 31, 2025, with outstanding interest of HKD 1.1 million as of the announcement date [1] Group 1 - The company has signed a consent order on November 4, 2025, with the claimant, an independent third party, to seek the court's approval for withdrawal of the claim without any order for costs [1] - The hearing scheduled for December 31, 2025, at the High Court of Hong Kong has been canceled following the settlement [1] - According to the board's reasonable inquiries, the claim does not have a significant impact on the company's operations and financial condition [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]

Group 1 - MAYER HOLDINGS is taking appropriate legal action to recover all 410 million consideration shares currently held in escrow [1][2] - The acquisition of Happy (Hong Kong) New City Group Limited was agreed upon for a total consideration of HKD 260 million, with payments structured in three parts [1] - The target company reported a cumulative audited net profit of approximately HKD 14.4 million for the three financial years ending December 31, 2021, which is below the target profit level [2] Group 2 - As a result of the target company's performance, the obligations under the acceptance note are to be terminated, and the escrow agent is not required to release any consideration shares to the seller [2] - The consideration shares will be returned to the company according to the escrow agreement, allowing the company to sell or dispose of the shares without notifying the seller [2] - The company believes that the buyer has no payment obligations under the acceptance note and is pursuing legal claims against the seller and guarantors for breach of the sale agreement [2]