POLYFAIR HLDGS (08532) announced that on January 20, 2026, Sing Wai (Hong Kong) Limited (the Petitioner) submitted a winding-up petition to the High Court of Hong Kong against the company's wholly-owned subsidiary, Polyfair Construction Engineering Limited (Polyfair Construction), in accordance with the provisions of the Hong Kong Companies (Winding Up and Miscellaneous Provisions) Ordinance, Chapter 32.

The petition seeks a winding-up order against Polyfair Construction and has been scheduled for a hearing on April 8, 2026.

This petition was initiated concerning an outstanding judgment debt of approximately HK$416,000 (including costs) arising from a judgment promulgated by the Lands Tribunal on June 23, 2025.

The dispute originated from an old tenancy agreement.

The company and the Petitioner had reached a settlement agreement in December 2025, with the outstanding debt balance being approximately HK$261,000.

Given the company's failure to make the payment as agreed, the Petitioner is seeking a winding-up order against Polyfair Construction.

As of the date of this announcement, the High Court has not issued any winding-up order against Polyfair Construction.

The company believes the amount involved is not significant to the Group's overall operations and financial condition.

The company will contact the Petitioner as soon as possible with the aim of repaying the outstanding debt and resolving this matter amicably.

The company is also seeking legal advice to determine appropriate actions in response to the petition, with the objective of safeguarding the interests of the company and its shareholders as a whole.

The Board of Directors believes this matter will be properly resolved in a timely manner.