Shimao Group Receives HK High Court Winding-Up Petition Over RMB 2.50 Billion Judgment Debts

Bulletin Express

Aug 27

Shimao Group Holdings Limited confirmed that Guotong Trust Co., Ltd. filed a winding-up petition with the High Court of the Hong Kong Special Administrative Region on 27 August 2026. The action seeks settlement of four Mainland Chinese court judgments totaling RMB 2.50 billion. The first court hearing is scheduled for 11 November 2026.

The petition does not automatically place Shimao Group into liquidation; no winding-up order has been granted as of the announcement date. Nonetheless, under Section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, any disposal of assets directly held by the Company—or transfers of its shares—made after 27 August 2026 could be void if the Company is ultimately wound up, unless validated by court order.

Hong Kong Securities Clearing Company Limited (HKSCC) may suspend clearing and settlement services for Shimao Group shares in CCASS, including refusing new share deposits, until the petition is dismissed, permanently stayed, or a High Court validation order is obtained.

Shimao’s board asserts that the petition does not align with the interests of broader stakeholders and states it will pursue legal measures to oppose the action and safeguard stakeholder rights. Further announcements will be provided as developments occur.

Investors and shareholders are urged to exercise caution when dealing in Shimao Group securities.

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Further announcements will be provided as developments occur.</p>\n<p>Investors and shareholders are urged to exercise caution when dealing in Shimao Group securities.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00813","symbol_name":"世茂集团","start_time":0,"source_url":"","article_id":"1103606458","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1103606458","pubTimestamp":1787831032,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"Shimao Group Holdings Limited confirmed that Guotong Trust Co., Ltd. filed a winding-up petition with the High Court of the Hong Kong Special Administrative Region on 27 August 2026. 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Further announcements will be provided as developments occur.\nInvestors and shareholders are urged to exercise caution when dealing in Shimao Group securities.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-2","news_tag":"SGX","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}