HK Stock Market Move | SHIMAO GROUP (00813) surged over 30% in late trading, up nearly 60% for the month; the company stated it will oppose the winding-up petition.

SHIMAO GROUP (00813) surged over 30% in late trading, with a cumulative gain of nearly 60% for the month. As of press time, it rose 24.53% to HK$0.066, with a turnover of HK$10.3765 million. On the news front, on September 29, SHIMAO GROUP issued an announcement stating that on August 27, a third-party company filed a winding-up petition against the company with the High Court of the Hong Kong Special Administrative Region, involving judgment debts arising from four judgments made by courts in mainland China. The company stated it will seek legal measures to oppose the petition and take all necessary actions to protect its legal rights. Regarding debt restructuring, the company's offshore debt restructuring plan took effect on July 21, 2025, with approximately US$5 billion in mandatory convertible bonds fully converted. Since early 2026, approximately RMB 8.997 billion in onshore loans have been extended, and in the first half of the year, the restructuring of the first batch of approximately RMB 379 million in medium-term notes was completed.