RENCO HOLDINGS (02323) received a liquidation petition.

RENCO HOLDINGS (02323) announced that on April 23, 2024, Tian Yuan, the legal representative, filed a winding-up petition to the High Court of Hong Kong based on the provisions of the Companies (Winding Up and Miscellaneous Provisions) Ordinance Chapter 32 of Hong Kong Law, requesting the company to be wound up under the Company Winding-Up Procedures No. 235 of 2025. According to the 2019 loan agreement and 2019 guarantee, the alleged unpaid amount is HK$681.5 million, including outstanding principal of HK$660 million, accrued interest of HK$267.6 million, default interest of HK$25.745 million offset by HK$271.8 million. The first hearing of the petition will be held on June 25, 2024.