Xin Yuan Enterprises Group Limited (Stock Code: 1748) released a quarterly update on its progress toward resumption of trading, following previous announcements dated 21 February 2025, 26 March 2025, 29 May 2025, 5 June 2025, and 29 August 2025. These announcements covered allegations made against the company and its directors, delays in publishing audited results for the year ended 31 December 2024, and the Stock Exchange’s resumption guidance.

The resumption guidance mandates an independent forensic investigation into the allegations mentioned in earlier complaint letters to ascertain their veracity, the publication of all outstanding financial results, proof that there is no regulatory concern regarding management’s integrity or competence, an internal control review, compliance with Rule 13.24 of the Listing Rules, and disclosure of all material information. The company has appointed a forensic investigator, who is still conducting the examination, and an internal control consultant to perform a thorough review.

The business operations of the group, which primarily engages in asphalt tanker chartering services, continue as usual. Expected publication timelines for the 2024 Annual Results, the FY2024 annual report, the 2025 Interim Results, and the 2025 Interim Report will be determined upon completion of the forensic investigation. The board and the special committee will also evaluate management’s integrity and competence once the investigation ends.

Trading in the company’s shares has been suspended since 21 February 2025 and will remain so until all resumption guidance requirements have been met. Further information will be provided through official announcements as necessary.