Huitongda Network (HKG:9878) said a court has approved the restructuring plan of Jin Tong Ling Technology (SHE:300091), paving the way for its previously announced acquisition of a 25% equity interest, according to a Tuesday Hong Kong bourse filing.

Shares of Huitongda were down nearly 2% in Wednesday's late morning trade.

The restructuring plan was approved by creditors on Feb. 2 and subsequently sanctioned by a civil ruling on Feb. 3, bringing the plan into effect and moving the target into the execution stage, the filing said.

Huitongda agreed in September 2025 to acquire the 25% stake for 994.4 million yuan by subscribing to 710.5 million shares at 1.3996 yuan apiece as part of a court-led restructuring.

The company previously said the investment would be funded through internal resources and bank loans and would support its expansion into high-end manufacturing.