Sanxun Group Announces Receivers' Court Application for Approval of Proposed Share Sale

Stock News

06/26

Sanxun Group has issued an announcement regarding the appointment of a provisional receiver by the British Virgin Islands court over all shares in Q Kun Ltd. held by Mr. Qian Kun. Both Mr. Qian Kun and Q Kun Ltd. are controlling shareholders of the company.

The board has recently been informed that the receiver has applied to the court for an order to seek approval for the proposed arrangement to sell the Q Kun Ltd. shares held by Mr. Qian Kun. The application had its first hearing at the British Virgin Islands court on June 22, 2026.

Although the company is not a party to the relevant legal proceedings, it appointed legal representation to attend the hearing. The British Virgin Islands court has ordered the rescheduling of the application, with a specific hearing date to be determined separately.

The company is currently seeking legal advice to assess whether to apply to join as a party to the relevant legal proceedings.

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