According to Hong Kong Stock Exchange documents, Shimao Group Holdings Limited said that the winding-up petition submitted by China Communications Trust triggered a default of 9.07 billion US dollars of offshore debt instruments. The breach occurred after the petition had not been withdrawn or suspended for 60 consecutive days from delivery on August 27, 2026. The affected debt instrument's current outstanding principal balance, premiums, and accrued and unpaid interest are all automatically and immediately due and payable. The Company intends to vigorously oppose the petition and is seeking legal and financial advice on the impact of the petition and the Company's response measures.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.