Jiyi Holdings Limited (the 「Company,」 stock code: 1495) provided new information regarding its winding-up petition settlement, auditor’s opinion on going concern, and the fulfillment of its resumption guidance requirements.
Recent disclosures indicate that the Company settled all outstanding wages and payments related to a winding-up petition filed in July 2025. Full payment was confirmed on 9 October 2025, and the Company expects the High Court of Hong Kong to dismiss the petition on or around 24 October 2025.
In parallel, the Company continues addressing going concern issues identified by its auditor for the financial year ended 31 December 2024. The total bank and other borrowings amounted to RMB157.9 million, of which RMB154.3 million in bank borrowings is partially secured by real estate properties of the Group and by properties of a former director. The Company verbally agreed to repay approximately RMB25.0 million by the end of 2026 and signed a total of HK$50 million in loan facility agreements with two independent third-party lenders at 3% per annum, maturing on 30 September 2027. The Company aims to use these loan proceeds to settle certain borrowings, fulfill the agreed repayment plan, and fund working capital.
Additionally, the Company reported that the outstanding principal and interest on its convertible loan notes of approximately RMB51.2 million are expected to be transferred to Greater Bay Finance Limited (GBFL) on or before 31 March 2026. GBFL issued a letter of undertaking confirming it would not demand repayment of the convertible loan notes and accrued interest until at least 1 January 2027. Based on these measures, the Company’s auditor signaled the possibility of issuing an unqualified opinion for the 2025 financial statements if no material changes occur in the Company’s operations and all remedial actions are fully implemented.
Despite the suspension of trading since 2 April 2024, the Company’s business operations remain active. Over 90% of trade receivables related to 2024 revenue has been collected, and the unaudited loss attributable to equity holders for the nine months ended 30 September 2025 is substantially reduced compared with the same period in 2024. This trend is largely attributed to higher revenue and gross profit from interior design and building engineering services.
The Company confirms it has met all resumption guidance requirements. Trading of the Company’s shares remains suspended until further notice. Shareholders and potential investors are advised to exercise caution when dealing in the securities of Jiyi Holdings Limited.