Thai and Microfinance (01915) was announced. The board of directors learned on October 30, 2024 that in October 2024...
Zhitong Finance App News, Taijiao Finance App (01915) announced that on October 30, 2024, the board of directors learned that on October 29, 2024, the People's Court of Hanjiang District, Yangzhou City, Jiangsu Province accepted bankruptcy and liquidation applications against Baitai Group, the controlling shareholder of the company, and Liantai Plaza, the main shareholder of the company. According to the ruling of the Hanjiang People's Court, the application was submitted by a creditor of Baitai Group, based on the failure of Baitai Group (as a borrower) and Liantai Plaza (as a guarantor) to repay outstanding loans and interest with a principal amount of RMB 11 million, and according to the provisions of section 2 (1) and (3) of the “Corporate Bankruptcy Law of the People's Republic of China”, it was decided to accept the applicant's bankruptcy and liquidation applications against Baitai Group and Liantai Plaza.
The company is evaluating the possible impact of the application on the Group's business operations and financial position. The Board of Directors wishes to emphasize that this application is against the Pak Thai Group and Liantai Plaza, and not against the company or any of its subsidiaries. The company has applied to the Stock Exchange to resume trading of the company's H shares starting at 9:00 a.m. on November 1, 2024.
