Shandong Fengxiang Co. Ltd. Receives Additional Liquidation Assets Amid GMK Finance Bankruptcy Proceedings

Reuters
14 May
Shandong Fengxiang Co. Ltd. Receives Additional Liquidation Assets Amid GMK Finance Bankruptcy Proceedings

Shandong Fengxiang Co. Ltd., a joint stock company incorporated in China, has provided an update on the bankruptcy liquidation process of GMK Finance. The company has received further undistributed liquidation assets from the initial distribution, including cash amounting to RMB202,068.66 and Trust Units under two separate trusts, with corresponding values of RMB355,701.81 and RMB70,649.28, respectively. The company is in discussions with its auditors regarding the accounting treatment of these assets and cautions shareholders and potential investors to exercise caution when dealing with its securities due to the uncertainty of the liquidity and market value of the Trust Units. The Board will announce any material updates as appropriate.

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