XH NEWS MEDIA (00309) has announced the withdrawal of a winding-up petition that was previously filed against the company.

The petition was originally submitted by Ngans Lawyers LLP (the petitioner) on 16 June 2026. On 28 August 2026, the company received a sealed copy of an order from the Hong Kong High Court, dated 20 August 2026, which permitted the petitioner to withdraw the petition with the consent of all parties involved.

Following negotiations between the company and the petitioner, settlement terms were reached for a full and final resolution of the petition. These terms were consolidated into a consent summons, signed by the legal representatives of both the petitioner and the company, which was issued, filed, and served on 28 July 2026. The consent summons was also served on the High Court Registrar, the Official Receiver's Office, and the petitioner's solicitors.

Under the consent summons, the parties jointly applied for various orders, subject to the company's undertaking to the court and the petitioner to pay HK$588,800 in two instalments—representing the full amount of the petition debt—before the petitioner would be permitted to withdraw the petition. The company has confirmed that, as of the date of this announcement, the entire petition debt of HK$588,800 has been fully settled and paid to the petitioner.