COCOON HOLDINGS received a winding-up petition
COCOON HOLDINGS received a winding-up petition on October 21, 2025, with the petitioner claiming that the company failed to repay approximately HKD 11.1 million in principal and interest on acceptance notes. The petition has not yet been verified by affidavit and is scheduled for a hearing in the High Court of Hong Kong on December 31, 2025. The company stated that the petition has no significant impact on its business operations and is considering various options to address the petition
According to the announcement from COCOON HOLDINGS (00428), on October 21, 2025, the company received a winding-up petition submitted by Ms. Zhou Xin (the petitioner) to the High Court of Hong Kong (High Court Company (Winding Up) Proceedings No. 639 of 2025), claiming to be a holder of the company's issued promissory notes.
The petitioner alleges that the company has failed to repay the principal and unpaid interest of approximately HKD 11.1 million (the claimed debt) on the aforementioned promissory notes. This petition has not yet been verified by the petitioner's affidavit, and according to the company’s understanding, the affidavit is pending certification and notarization in China before it can be submitted to the court.
The hearing for this petition is scheduled for December 31, 2025, at the High Court of Hong Kong.
This petition has only been submitted to the court as an application for the company's winding-up, and as of the date of this announcement, the court has not issued any winding-up order requiring the company to be wound up. The company emphasizes that this petition currently has no significant adverse impact on its business operations.
The company is considering various options regarding this petition and seeking professional advice, including but not limited to applying to the court for an order to dismiss or stay the petition on the grounds of abuse of process, with the costs to be borne by the petitioner. The company will inform its shareholders and the public of any significant developments regarding this petition and will issue further announcements at the appropriate time
