China First Capital Group Limited: Critical Update on Winding-Up Petition and Substitution Application

Key Points for Investors

• Winding-Up Petition: China First Capital Group Limited (“the Company”) is currently facing a winding-up petition, which is a legal action that could potentially lead to the liquidation of the company.
• Upcoming Hearings: The High Court has scheduled the hearing for both the substitution application and the winding-up petition for 9:30 a.m. on 20 April 2026.
• Substitution Application: A supporting creditor has filed to substitute the original petitioner in the winding-up process, which could affect the proceedings and potentially the outcome.
• Legal Strategy: The Company is actively seeking legal advice on the matter and will provide further updates as developments occur.
• Continuous Disclosure: The Company has made multiple announcements concerning the winding-up petition between December 2023 and April 2026, indicating ongoing legal and financial uncertainty.

Important Information for Shareholders

• Market Impact: The winding-up petition and related legal proceedings represent a significant risk to the Company’s future, its share price, and its operations. Shareholders should be aware that the outcome of these hearings could result in the Company being wound up, which would have a direct impact on share value.
• Potential Price Sensitivity: Any material developments, including the substitution of the petitioner or the outcome of the hearing, could trigger substantial movements in the Company’s share price.
• Investor Caution: The Company advises shareholders and potential investors to exercise caution when dealing in its shares given the heightened legal and financial risks.
• Board and Leadership: The announcement was issued by Andy Chan Kwok Kee, Company Secretary. The Board consists of executive directors Dr. Wilson Sea and Dr. Zhu Huanqiang, and independent non-executive directors Mr. Chu Kin Wang, Ms. Lu Dan, and Mr. Qiao Huabin.

Detailed Overview

China First Capital Group Limited has been subject to a series of winding-up petitions, as referenced in multiple announcements since December 2023. The latest development involves a substitution application filed by a supporting creditor, aiming to replace the original petitioner in the ongoing winding-up process. The High Court has scheduled the hearing for both the substitution application and the new winding-up petition for 20 April 2026 at 9:30 a.m.

The company is actively seeking legal advice and has committed to keeping shareholders and investors updated on any significant developments, including those related to the substitution application, the winding-up petition, and the transfer of shares. This ongoing legal uncertainty poses a clear risk to the company’s operational continuity and share value. Any outcome from the upcoming court hearing could materially affect the company’s future and, consequently, the value of its shares.

Given the seriousness of these legal proceedings, shareholders and potential investors should closely monitor company announcements and exercise extreme caution when trading the company’s shares. The Board remains engaged with legal counsel and is expected to provide further updates as more information becomes available.

Disclaimer

The information provided herein is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with professional advisors before making investment decisions. China First Capital Group Limited is subject to ongoing legal proceedings that may significantly impact its share value and operational status. The situation remains fluid, and all stakeholders should remain alert to further updates from the Company.

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