Cocoon Holdings (00428) announced that on October 21, 2025, it received a liquidation petition submitted to the High Court of Hong Kong by Ms. Zhou Xin (the petitioner), claiming to be a holder of the company's issued promissory notes. The petitioner asserts that the company has failed to repay the principal and unpaid interest of approximately HKD 11.1 million related to the aforementioned promissory notes (the claimed debt). The petition has not yet been verified by the petitioner's affidavit, and according to the company’s understanding, the affidavit is awaiting certification and notarization in China before it can be submitted to the court. The hearing for the petition is scheduled for December 31, 2025, at the High Court of Hong Kong. This petition is submitted solely as an application for the company's liquidation, and as of the date of this announcement, the court has not issued any liquidation order requiring the company to be liquidated. The company emphasizes that this petition currently has no significant adverse impact on its business operations. The company is considering various options regarding the 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 costs to be borne by the petitioner. The company will notify its shareholders and the public of any significant developments regarding this petition and will issue further announcements at the appropriate time.