China Hongbao Holdings Ltd. said it lost control of subsidiary Ambitious Achievement New Materials Holding Ltd. on Feb. 11, 2026 after the Official Receiver appointed provisional liquidators, with Crowe (HK) CPA Ltd.’s Chua Suk Lin Ivy and Lau Kwok Hung named joint and several provisional liquidators. The company will deconsolidate Ambitious Achievement from that date; the unit previously made up the group’s entire construction segment. The group’s internet services segment is conducted through indirect wholly owned subsidiary Hainan Hongbao Linkage Technology Co. Ltd. China Hongbao said it is resuming construction operations through another subsidiary and has an ongoing construction project with an initial contract sum of over HK$2 million.

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