According to Zhitong Finance App, Baofa Holdings (08532.HK) issued an announcement. On October 26, 2026, Baofa Holdings Limited (the company) was ordered liquidated by the Hong Kong High Court under the Hong Kong High Court in the company liquidation case HCCW 333/2026 under the “Companies (Liquidation and Miscellaneous Provisions) Ordinance”, Chapter 32 of the Hong Kong Legislation, and the Director of Bankruptcy Administration became the company's provisional liquidator by virtue of his position.

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