Ruifeng New Energy (00527) received a winding-up petition

According to the Zhitong Finance App, Ruifeng New Energy (00527) issued an announcement. On December 4, 2025, the company received a petition from Wang Jin (petitioner) to the Hong Kong Special Administrative Region High Court to wind up the company under the Companies (Liquidation and Miscellaneous Provisions) Ordinance under Chapter 32 of the Hong Kong Law. The filing date according to the petition is November 20, 2025. The company believes that the petitioner may have some delays in the process of delivering the petition. The petitioner alleges that the company owes the petitioner HK$7.075 million. This amount derives from the outstanding amount of bonds issued by the company (as issuer) to the petitioner (as a subscriber) on November 17, 2021.

The company has always maintained a positive attitude in negotiations and negotiations with the petitioner. Although there are certain differences between them over the amount owed, the company is still seeking a settlement with the petitioner regarding the amount and repayment time. The company and the petitioner have been in negotiations for several months, and communication channels have always remained unobstructed. Therefore, the company believes that the petitioner should have a more appropriate and effective way to handle the differences faced by the two parties through negotiations.

The petition will be heard in the High Court at 10 a.m. on January 28, 2026. The company is seeking legal advice on the petition. However, since the Company received the petitioner's petition on the date of this announcement, it will take more time to seek legal advice and pre-trial preparations, so the Company may consider applying to the High Court to adjourn the hearing.

As of the date of this announcement, the company is in negotiations with the petitioner on a settlement plan for the outstanding amount. The company also hopes that the petitioner can respond positively to the company's settlement plan and that both parties reach an agreement as soon as possible.