Lates News

On the evening of June 19th, Ocean Group announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary, Ocean Holdings, held "H19 Ocean 1" bondholder meetings and "H19 Ocean 2" bondholder meetings in April and May 2025 respectively, to review and approve the "Extension Proposal". According to the "Extension Proposal" and its resolution, Ocean Holdings is required to repay 0.3% of the remaining principal of the "H19 Ocean 1" and "H19 Ocean 2" bonds within 30 trading days after the approval of the "Extension Proposal". At the same time, there is a grace period of 30 trading days for the interest and principal repayment dates of "H19 Ocean 1" and "H19 Ocean 2". If Ocean Holdings completes the full repayment within the grace period or obtains relevant exemptions from the bondholder meetings, it will not constitute a default on the relevant bonds. As of the date of this announcement, Ocean Holdings' liquidity pressure has not been alleviated. Ocean Holdings will actively raise funds during the grace period to properly address the relevant debt issues and effectively protect the rights of investors. The specific circumstances will be announced separately.