Anchorstone Holdings Limited: Winding-Up Order Issued Against Subsidiary Pacific Marble & Granite Limited (PMG)

Key Points from the Announcement

• Winding-Up Order Issued: On 18 March 2026, the High Court issued a winding-up order against Pacific Marble & Granite Limited (PMG), which is an indirectly wholly owned subsidiary of Anchorstone Holdings Limited.
• Background: The winding-up petition was initiated by Hang Chin Marble Engineering Limited on grounds of PMG’s insolvency and inability to pay its debt.
• Appointment of Provisional Liquidators: Messrs Chua Suk Lin, Ivy and Lau Kwok Hung were appointed as Joint and Several Provisional Liquidators of PMG by the Official Receiver on the same day as the winding-up order.
• Principal Activities of PMG: PMG is engaged in trading, supplying, and installing marble and granite for construction projects. However, notably, PMG has not undertaken any new construction projects since 2023.
• Impact on Group Operations: The Group’s other subsidiaries have been carrying out its business operations. The company asserts that the winding-up of PMG is not expected to have a material adverse effect on the Group’s overall financial position and operations.
• Further Announcements: The Board has committed to making further announcements if there are any material developments relating to PMG, in compliance with the Hong Kong Listing Rules.

Important Information for Shareholders

• Potential Price Sensitivity: While the company states that the winding-up of PMG is not expected to materially impact the Group’s finances or operations, shareholders should be aware that the loss of a wholly owned subsidiary and the circumstances of insolvency could raise concerns about the Group’s risk management and asset quality.
• No New Projects Since 2023: The fact that PMG had not secured any new construction projects since 2023 may reflect underlying challenges within this subsidiary’s business segment.
• Market Caution Advised: The company explicitly advises shareholders and potential investors to exercise caution when dealing in the shares of Anchorstone Holdings Limited, highlighting the potential for share price volatility in light of these events.
• Corporate Governance and Transparency: The prompt announcement and commitment to further updates may be seen as a positive in terms of corporate transparency.

Board of Directors and Corporate Details

The current Board includes Chairman Lui Yue Yun Gary, Executive Directors Ms. Lui Natalie Po Wai, and Independent Non-Executive Directors Mr. Ko Tsz Kin, Mr. Wong Yue Fai, and Prof. Jiang Zhihong.

The announcement was signed by Chairman Lui Yue Yun Gary and released in Hong Kong on 27 March 2026.

Conclusion

The winding-up of PMG is a significant event as it involves the insolvency of a wholly owned subsidiary within Anchorstone Holdings Limited. While management expects no material adverse effect on the Group’s financial position, the circumstances may raise questions about the business prospects of certain segments and could be interpreted as a negative signal by the market. Investors should remain vigilant for further announcements and consider the potential risks before making investment decisions.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or recommendations. Investors should consult their own financial advisors and conduct their own due diligence before making any investment decisions. The author and publisher accept no liability for any losses incurred as a result of reliance on the information contained herein.

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