Summary by Moomoo AI
Sino-ocean Group Holdings Limited ("Sino-ocean Group") announced on June 27, 2024, updating the payment arrangements of principal and interest of the bonds of its wholly-owned subsidiary Sino-Ocean Holding Group (China) Co., Ltd. ("Sino-Ocean Holding China"). Sino-Ocean Holding China is required to pay the accrued interest and/or the unpaid interest of seven bonds and the principal and corresponding interest of the "H18 Sino-ocean 1" bond before June 30, 2024. The seven bonds have a grace period of 30 trading days. If the full payment is made during this period, it will not constitute a default. Sino-Ocean Holding China is currently facing liquidity pressure and is actively raising funds, including promoting significant asset transactions, but there is still uncertainty. The company apologizes for not being able to raise sufficient funds and promises to continue to work hard to safeguard the interests of investors.