Zhitong Finance App News, China Huaxing (00485) issued an announcement. On March 1, 2024, the company received a statutory demand for debt repayment issued by Ms. Chen Xiaomei (holder of the HK$2.5 million bond (bond A)) under section 178 (1) (a) or section 327 (4) (a) or section 327 (4) (a) of the Hong Kong Laws of Hong Kong under section 178 (1) (a) or section 327 (4) (a)) of the Hong Kong Law's Chapter 32 “Companies (Liquidation and Miscellaneous Provisions) Ordinance”, and Ms. Qian Hui (bond B) with a total principal amount of HK$4 million The holder)'s legal adviser under Chapter 32 of the Laws of Hong Kong Statutory claims issued under section 178 (1) (a) or section 327 (4) (a) of the Companies (Liquidation and Miscellaneous Provisions) Ordinance require the company to pay HK$2.1910,000 and HK$4.122,400 (i.e. the respective outstanding principal amounts of Bond A and Bond B and their accrued interest) within 3 weeks from the date of delivery of the statutory claims. Otherwise, creditors may file a winding-up petition against the company.
On the date of this announcement, the Group's management discussed the above payments with the two bondholders and made partial repayments to the two bondholders. Furthermore, the Board is currently seeking legal advice on the statutory claims for debt repayment.