SUMMI (00756) has a liquidation application submitted against it.

Summi (00756) has announced that the company has received a winding-up petition from Taiwan International Commercial Bank Limited, Huatai Commercial Bank Limited, Cathay United Bank Limited, Hua Nan Commercial Bank Limited, Lighthouse Bank Limited, and Dah Sing Bank Limited (the Petitioners) under the Companies (Winding Up and Miscellaneous Provisions) Ordinance of Hong Kong Chapter 32 on January 10, 2025, with the Hong Kong Special Administrative Region High Court (the Court) against the company. The petition is regarding the company's default in the payment of a principal amount of USD 12.59 million and accrued interest under financing documents dated as of October 23, 2020. The company is seeking legal advice to determine possible actions to protect the interests of the company and its shareholders against the petition. The company will also actively engage in discussions with the Petitioners to find feasible solutions.