Zhitong Finance App News, Xinhua News Media (00309) issued an announcement regarding (among others) a winding-up petition filed by Ngans Lawyers LLP (petitioner) against the company on June 16, 2026. On August 28, 2026, the company received a sealed copy of the Hong Kong High Court order dated August 20, 2026. Accordingly, the court, with the consent of the parties, allowed the petitioner to withdraw the petition.

After negotiations between the company and the petitioner, the two parties have reached a settlement clause on the full and final settlement of the petition. These terms have been compiled into a consent summons, signed by the petitioner and the company's counsel, and issued, submitted and served on July 28, 2026. A consent summons was served on the Registrar of the High Court, the Director of Bankruptcy Administration, and the petitioner's counsel.

According to the consent summons, the parties jointly applied for multiple orders to allow the petitioner to withdraw the petition after the company promised the court and petitioner to pay HK$588,800 (i.e. the full amount of the petition debt) to the petitioner in two instalments. The Company confirms that the full amount of the petition debt of HK$588,800 has been paid to the petitioner as of the date of this announcement.

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