RUIFENG RENEW (00527) announced that on December 4, 2025, the company received a winding-up petition filed by Wang Jin (the petitioner) with the High Court of the Hong Kong Special Administrative Region under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of Hong Kong law). The petition documents were dated November 20, 2025. The company believes there may have been delays in the service process of the petition.

The petitioner claims the company owes HK$7.075 million, stemming from unpaid amounts related to bonds issued by the company (as issuer) to the petitioner (as subscriber) on November 17, 2021. The company has maintained a proactive stance in negotiations with the petitioner. Although there are disagreements over the outstanding amount, the company seeks to reach a settlement regarding the sum and repayment timeline.

Having engaged in months of negotiations with open communication channels, the company believes the petitioner could adopt more appropriate and effective methods to resolve disputes through consultation. The petition hearing is scheduled for January 28, 2026, at 10:00 AM in the High Court. The company is currently seeking legal advice on the petition.

As the petition was only served on the announcement date, the company requires additional time for legal consultation and pre-trial preparations. It may consider applying to the High Court for a hearing postponement. As of the announcement date, discussions with the petitioner regarding a settlement for the outstanding amount are ongoing. The company hopes the petitioner will respond positively to its proposed resolution to reach a mutual agreement promptly.