Sino-Ocean Group Holding Ltd. Pursues Holistic Risk Mitigation Plan Amid Ongoing Restructuring Efforts
Reuters
Jun 30
Sino-Ocean Group Holding Ltd. Pursues Holistic Risk Mitigation Plan Amid Ongoing Restructuring Efforts
Sino-Ocean Group Holding Ltd. is actively working on a comprehensive risk mitigation plan for its onshore credit debts to safeguard the interests of its creditors and ensure the sustainability of its operations. The company is focusing on maintaining stable operations and delivery while engaging with suppliers to uphold business relationships and agreeing on repayment schedules. Additionally, efforts are being made to expedite the sales of construction projects and improve cash flow by collecting outstanding sales proceeds. The company is also implementing cost-control measures to reduce unnecessary expenditures. These actions are part of Sino-Ocean's strategy to address the disclaimer of opinion regarding its going concern status, as highlighted in its annual report for the year ending December 31, 2024. Shareholders and investors are advised to exercise caution in dealing with the company's securities, and further announcements will be made as necessary in compliance with the listing rules.
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