Contel Technology Company Limited (stock code: 01912) disclosed that on 12 March 2026, it received a statutory demand for approximately US$7.50 million covering loan principal and interest owed to Ms. Tse Hoi Ching. The demand, issued under Section 178(1)(a)/327(4)(a) of Hong Kong’s Companies (Winding Up and Miscellaneous Provisions) Ordinance, requires settlement within 21 days of service; otherwise the creditor may file a winding-up petition against the company.

Board information indicates that the creditor is also the lender to Chairman and executive director Mr. Lam Keung and holds a share charge over all issued shares of P.Grand (BVI) Ltd., a vehicle wholly owned by Mr. Lam. Apart from these links, the company states the creditor is independent of Contel Technology and its connected persons.

Management has engaged legal advisers to assess the statutory demand’s implications and is in discussions with the creditor to explore a settlement. Further announcements will be made as necessary under Hong Kong Listing Rules.

The company cautions shareholders and potential investors to exercise prudence when dealing in Contel Technology’s shares.