China First Capital Group Limited – Critical Update on Winding Up Petition Proceedings

Key Points for Investors

• Ongoing Winding-Up Petition: China First Capital Group Limited (“the Company”) is currently subject to a new winding-up petition, which has seen several significant legal developments in recent months.
• Adjournment of Court Hearing: The scheduled High Court hearing for the winding-up petition, originally set for 20 April 2026, has been postponed to 24 August 2026. This delay may create additional uncertainty for both the Company and its investors.
• Potential Impact on Shareholders: The outcome of the winding-up petition could fundamentally affect the Company’s operations, share transferability, and ultimately, shareholder value.
• Continued Legal Consultation: The Company is actively seeking legal advice and has committed to keeping shareholders informed of any material developments.

Detailed Developments

China First Capital Group Limited (Stock Code: 1269), incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, has issued an important update regarding the ongoing winding-up petition against the Company.

This update follows a series of prior announcements spanning from December 2023 through January 2026, relating to the new winding-up petition and related substitution applications. The Company has been transparent in communicating these developments as required under the Hong Kong Listing Rules and relevant securities regulations.

According to the latest announcement, the High Court was originally scheduled to hear the new petition on 20 April 2026. However, on 16 April 2026, the Court decided to adjourn the hearing to 24 August 2026. This adjournment introduces a new period of waiting and uncertainty, during which the Company will continue to seek legal advice.

Implications and Risks for Shareholders

• Potential Share Price Volatility: News regarding winding-up petitions is highly price sensitive. The adjournment and ongoing legal uncertainty could result in significant volatility in the Company’s share price as investors react to the changing risk landscape.
• Transfer of Shares: The Company has indicated that the outcome of the petition may also impact the transfer of shares, which could affect liquidity and tradability of the stock.
• Ongoing Disclosure: Management has pledged to make further announcements to keep shareholders and investors updated on any significant developments, particularly those that could influence share trading or the Company’s future.
• Exercise Caution: The Board specifically advises all shareholders and potential investors to exercise caution when dealing in the Company’s shares in view of the unresolved legal proceedings and the potential for substantial impact on the Company’s status and market valuation.

Board and Management Information

The Company’s current Board comprises:

• Executive Directors: Dr. Wilson Sea and Dr. Zhu Huanqiang
• Independent Non-Executive Directors: Mr. Chu Kin Wang (Peleus), Ms. Lu Dan, and Mr. Qiao Huabin

The Company Secretary is Chan Kwok Kee, Andy.

The announcement was made from Hong Kong on 16 April 2026.

Investor Takeaways

• The ongoing winding-up petition and its adjournment are highly material and price-sensitive. The Company’s future, share price, and trading liquidity could all be significantly affected, depending on the eventual outcome of the legal proceedings.
• Investors should monitor further Company announcements and remain vigilant, as the situation is evolving and carries inherent legal and market risks.

Disclaimer: This article is provided for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult their financial advisors before making investment decisions, especially in light of the ongoing legal proceedings and potential risks to the Company’s shares.

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