Fengxiang share (09977.HK) controlling shareholder subsidiary debt overdue complaint
阿思達克 03-28 08:38
Fengxiang shares (09977.HK) announced that the subsidiary of its controlling shareholder Xinfengxiang Holdings has been overdue recently. Among them, Xinfengxiang Finance is involved in a dispute over overdue repayment, accordingly, the creditor has issued a civil complaint against Xinfengxiang Finance. Liu Xuejing, Xinfengxiang Holdings and some of its subsidiaries, the controlling shareholders and non-executive directors of the company, are also listed as defendants.
Up to now, the Group's deposits with Xinfengxiang Finance (including the relevant accrued interest) amount to about RMB 885 million, while the Group's withdrawal and use of deposits and collection of deposit interest for day-to-day operations are still normal.
The company is of the view that the above events will not affect the normal operation of the Group and is actively negotiating with Xinfengxiang Holdings and has been informed that it is in the process of debt arrangement with its subsidiaries. The company is also assessing the impact of the above events, in particular the financial impact on the Group's consolidated financial statements, carefully tracking the situation and considering deposit protection measures.
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