Xinhua News Media Holdings Limited disclosed that Ngans Lawyers LLP filed a winding-up petition against the company on 16 June 2026, citing an unpaid service fee of approximately HK$0.59 million related to a retainer agreement for annual legal services in Chinese. The Hong Kong High Court has listed the hearing for 9 September 2026.

The petition triggers Section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, meaning any disposal of assets held directly by Xinhua News Media, any transfer of its shares, or any alteration to its member structure executed on or after the petition’s filing date could be void without a High Court validation order. Should the petition be struck out, dismissed or permanently stayed, these restrictions would cease to apply.

Hong Kong Securities Clearing Company Limited (HKSCC) has the authority to suspend clearing and settlement services for the company’s shares in CCASS without notice. Potential measures include halting deposit acceptance of share certificates and reversing previously credited securities, until the petition is resolved or a validation order is secured.

The board stated that no winding-up order has been granted and intends to contest the petition vigorously, pursue an amicable settlement and, if necessary, seek a validation order. Management believes the legal action is not expected to materially disrupt the Group’s near-term operations.

Shareholders and potential investors are advised to exercise caution when trading the company’s securities. Xinhua News Media will issue further announcements on any material developments.