Times China Holdings (01233) continued to fall 12%. The stock fell more than 50% yesterday afternoon. As of press release, it was down 12% to HK$0.132, with a turnover of HK$139,300.
The Zhitong Finance App learned that Times China Holdings (01233) continued to fall 12%, and the stock fell more than 50% yesterday afternoon. As of press release, it was down 12% to HK$0.132, with a turnover of HK$139,300.
According to the news, Times China Holdings recently announced that it received a winding-up petition from Hang Seng Bank Limited on April 15. The details were about the company's financial liability of approximately US$173.2 million and HK$731 million, respectively. The Hong Kong High Court has set the date for the first hearing of the petition on July 3.
According to the 2023 financial report of Times China Holdings, the company achieved revenue of 21.011 billion yuan last year, a year-on-year decrease of 14%; the total annual loss was 13.891 billion yuan. Furthermore, as of the end of 2023, its bank and other bank loans totaled 46.143 billion yuan, of which 27.454 billion yuan will be repaid within the next 12 months.