XH News Media Faces HK$4.05 Million Winding-Up Petition; Board Vows Strong Opposition

Bulletin Express

Sep 13

The High Court of Hong Kong has accepted a winding-up petition against XH News Media (the “Company”) filed on 11 September 2026 by former director Mr. Tsui Kwok Hing. The petitioner claims HK$4.05 million in outstanding director’s advances. A court hearing is scheduled for 2 December 2026.

Under Section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, any disposal of Company-owned assets, share transfers or changes in member status executed on or after the petition date could be void without a High Court validation order. Hong Kong Securities Clearing Company Limited may temporarily suspend CCASS services for the stock, including the acceptance of share certificates, until the petition is dismissed, permanently stayed, or validated by court order.

The Board states that no winding-up order has been granted and intends to “strongly oppose” the petition, seek an amicable settlement, or apply for a validation order if required. Management expects no material near-term impact on group operations but advises shareholders and prospective investors to exercise caution when trading the Company’s shares.

Further announcements will be made as material developments arise.

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