Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim responsibility for the contents of the announcement of China South City Holdings Limited (In Liquidation) (“the Company”), make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from or in reliance upon the whole or any part of its contents.
China South City Holdings Limited (In Liquidation) (Stock Code: 1668) provided its latest quarterly update pursuant to Rule 13.24A of the Listing Rules, highlighting the progress of its ongoing holistic restructuring of offshore indebtedness (“Holistic Restructuring”) and confirming the continued suspension of trading. The Company referenced announcements dated 8 September 2025 and 10 November 2025 regarding its resumption guidance and quarterly update, along with announcements on 29 January 2026 and 3 February 2026 concerning preliminary terms for the Holistic Restructuring (“Proposed Preliminary Terms”).
The Joint and Several Liquidators (“the Liquidators”) and management have been evaluating the Group’s financial position on an ongoing basis. Since the publication of the Proposed Preliminary Terms, the Liquidators have received feedback from various creditors and stakeholders, including an ad hoc group holding over 43.5% of the Company’s Existing Notes. The Liquidators are assessing these views but note that, as of 10 February 2026, no formal agreement on the Holistic Restructuring has been reached.
The Liquidators further caution that if the Holistic Restructuring is not implemented, whether in accordance with the Proposed Preliminary Terms or otherwise, they may consider recovery actions based on a break-up of the Group’s assets. Creditors and stakeholders are invited to contact the Liquidators at ProjectCompassFTI@fticonsulting.com to discuss restructuring possibilities. The Company will issue further announcements as and when appropriate under the Listing Rules.
Trading in the shares of the Company has been suspended since 10:55 a.m. on 11 August 2025 and remains suspended until further notice. For enquiries from creditors or stakeholders, the Liquidators can be reached at ProjectCompassFTI@fticonsulting.com. The Company notes there is no assurance that a holistic restructuring solution will be implemented in a timely manner, or at all, and therefore advises caution when dealing in its securities.
As of the information available from previous announcements, the Co-Chairmen of the Company are Mr. Li Wenxiong (Non-Executive Director) and Mr. Cheng Chung Hing (Executive Director); the Executive Directors are Mr. Wan Hongtao, Ms. Fang Ling, Ms. Xu Hongxia, and Mr. Li Zhi; the Non-Executive Directors are Ms. Shen Lifeng, Ms. Li Aihua, and Ms. Deng Jin; and the Independent Non-Executive Directors are Mr. Leung Kwan Yuen Andrew, GBM, GBS, JP, Mr. Li Wai Keung, Mr. Hui Chiu Chung, JP, and Dr. Li Xu. All powers of theseCo-Chairmen, Executive Directors, and Non-Executive Directors ceased upon the making of the winding-up order by the High Court of Hong Kong on 11 August 2025 (Hong Kong Time).