Zhuguang Holdings Group Company Limited on 2 April 2026 released an update on actions taken since the publication of its 2024 Annual Report, which carried a disclaimer of opinion. The group has executed four principal measures to relieve liquidity pressure and strengthen its balance sheet.

1. Loan elimination via asset disposal • On 31 March 2026 the company completed the sale of 679,890,022 Silver Grant International shares to controlling shareholder Rong De for HK$81.59 million. • Settlement was achieved by set-off against an equivalent amount of borrowings owed to Rong De, removing the loan from the group’s books and improving gearing and debt-to-equity metrics without affecting cash reserves.

2. Explicit backing from the controlling shareholder • Rong De has undertaken to continue financial support for not less than 12 months from 31 December 2024 and not to demand repayment of amounts due within the same period, providing additional liquidity assurance. • On 31 March 2026 Rong De created a share charge over the disposed Silver Grant shares and signed a custodian deed, both securing Zhuguang’s outstanding US$210.00 million 36-month senior notes. Any breach of these arrangements constitutes an event of default under the note terms.

3. Engagement with lenders • Management is in active discussions with four lenders to refinance more than HK$3.00 billion of existing bank and other borrowings falling due within 12 months and to explore additional credit facilities.

4. Operating cash and cost controls • Collections of over HK$22.00 million from two urban redevelopment projects were booked in January–February 2026. • The workforce was reduced from 642 employees as at 31 December 2024 to 535 as at 28 February 2026, reflecting ongoing cost-containment efforts.

Audit status The company’s independent valuer and auditor are still finalising the valuation and audit work for the 2025 preliminary annual results. Apart from this, Zhuguang is unaware of other factors delaying publication.

Zhuguang stated it will release further updates in line with Hong Kong listing requirements and advised shareholders and potential investors to exercise caution when dealing in its shares.