STOCKS | Zhenro Properties Says Indirect Unit Zhenro Hong Kong Faces Winding-Up Petition

Zhenro Properties Group (6158) said it received a letter from the Official Receiver’s Office to the board of its indirectly wholly owned subsidiary, Zhenro Hong Kong, requesting details of certain assets and liabilities, according to Ming Pao. The company said it learned from the letter that a winding-up petition was presented against Zhenro Hong Kong on June 10 this year. Zhenro Hong Kong is an investment holding company mainly engaged in property development in mainland China. Zhenro Properties said that as of the end of last year, Zhenro Hong Kong’s total assets, profit and revenue each accounted for more than 5% of the Zhenro group.