United Energy Group (00467) fell by more than 25%. As of press release, it fell 21.59% to HK$0.345, with a turnover of HK$0.247 billion.
The Zhitong Finance App learned that United Energy Group (00467) fell by more than 25%. As of press release, it fell 21.59% to HK$0.345, with a turnover of HK$0.247 billion.
According to the news, Oriental Group announced that it received a notice from the Harbin Intermediate Court on September 6. The Harbin branch of China Merchants Bank filed a lawsuit requesting early recovery of all principal and interest on loans issued to the company. If the company is unable to repay, priority compensation will be given based on the price obtained from the disposal of the 0.313 billion shares of Minsheng Bank held by the company.
According to reports, Oriental Group's debt problem was fully revealed in June of this year. On June 19, Zhang Hongwei, the actual controller of Dongfang Group, made an urgent statement that he would return funds by disposing of its assets such as United Energy and UEP Wind Energy shares to help resolve Dongfang Finance Company's liquidity problems and ensure the safety of Oriental Group's funds. According to reports, Zhang Hongwei once used United Energy Co., Ltd. to guarantee Dongfang Group's 2.35 billion yuan loan. If Oriental Finance Company's liquidity problems affect Oriental Group's loan repayment, Zhang Hongwei will use the pledge disposition of the above shares to repay the debt.