K.H. GP HLDGS subsidiary has been filed for liquidation
K.H. GP HLDGS announced that its wholly-owned subsidiary Jianhong Foundation Limited was petitioned for liquidation on January 27, 2025, involving approximately HKD 2.1 million in unpaid legal fees and interest. The hearing is scheduled for April 2, 2025. Jianhong Foundation will seek solutions and take appropriate actions. The company stated that its existing financial resources are sufficient to settle the unpaid amounts, and this petition will not have a significant impact on the group's financial performance
According to the announcement from K.H. GP HLDGS (01557), on February 7, 2025, the company noted that Ince & Co (the petitioner) submitted a winding-up petition against the company's wholly-owned subsidiary K.H. Foundation Limited (K.H. Foundation) to the High Court of the Hong Kong Special Administrative Region (the Court) on January 27, 2025, under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, involving unpaid legal fees and interest of approximately HKD 2.1 million. The petition is scheduled for a hearing in the Court on April 2, 2025.
K.H. Foundation will actively consult with the petitioner to explore feasible solutions and seek legal advice to take appropriate actions as recommended. As of the date of this announcement, the Group has sufficient financial resources to settle the unpaid amounts of the petition, and the petition does not have a significant adverse impact on the Group's financial performance, financial condition, and business operations.
The submission of the petition does not guarantee the successful winding-up of K.H. Foundation, and as of the date of this announcement, the Court has not issued a winding-up order for K.H. Foundation. The company will inform shareholders and investors of any significant developments regarding the petition and will issue further announcements at the appropriate time
