VPower Group International Holdings Limited: Critical Update on Winding-Up Petitions and Adjournment

Date: 30 April 2026

Key Points for Investors

• VPower Group International Holdings Limited (“VPower” or “the Company”) is facing winding-up petitions filed against both itself and its indirect wholly-owned subsidiary, VPower Group Holdings Limited (“VGHL”).
• The petitions were submitted by CRRC Hongkong Capital Management Co., Limited on 28 November 2025 at the High Court of the Hong Kong Special Administrative Region.
• The hearing of these petitions, which was already rescheduled once to 13 May 2026, has now been further adjourned to 17 June 2026 upon joint applications from both the Company/its subsidiary and the petitioner.

Details of the Winding-Up Petitions

The winding-up petitions represent a significant legal threat to VPower, as they could result in the compulsory liquidation of the Company and its subsidiary if successful. Such actions are typically sought by creditors who claim unpaid debts. The involvement of CRRC Hongkong Capital Management Co., Limited as the petitioner signals a serious dispute regarding financial obligations.

The Company has issued multiple announcements since December 2025, alerting investors to the legal actions and subsequent court proceedings. The most recent development is the court’s decision on 24 April 2026 to vacate the scheduled hearing on 13 May 2026 and reschedule it for 17 June 2026. This adjournment was made upon joint application by both the Company and the Petitioner, indicating ongoing negotiations or discussions between the parties.

Potential Impact on Shareholders and Share Price Sensitivity

• Material Uncertainty: The existence of winding-up petitions and the repeated adjournments create substantial uncertainty regarding the Company’s financial stability and future operations. Such legal actions are typically considered highly price-sensitive information, as they may ultimately impact the Company’s ability to continue as a going concern.
• Shareholder Action Advised: The Company has advised shareholders, investors, and potential investors to exercise caution when dealing in the shares of VPower. The outcome of these court proceedings could have a material effect on share value, depending on whether the petitions are dismissed, settled, or result in a winding-up order.
• Further Announcements Expected: Management has committed to making further announcements regarding the petitions and the adjourned hearings as and when appropriate, in accordance with the Listing Rules and applicable laws. Investors should monitor company disclosures closely for further developments.

Management and Board Composition

As of the date of the announcement, the Company’s Board comprises:

• Mr. Gao Zhan (Chairman)
• Mr. Lam Yee Chun, Mr. Liu Ruikun, Mr. Jin Jiantang, Mr. Wang Jiachang (Executive Directors)
• Mr. Wong Kwok Yiu (Non-Executive Director)
• Mr. Suen Wai Yu, Dr. Wang Zheng, Dr. Lin Tun (Independent Non-Executive Directors)

Conclusion

The ongoing legal proceedings concerning the winding-up petitions pose a significant risk to VPower Group International Holdings Limited. The further adjournment of the hearing prolongs the uncertainty, which may continue to weigh on the company’s share price until the matter is resolved. Investors are strongly advised to remain vigilant and follow all future announcements from the Company.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor prior to making any investment decisions. The information is based on public disclosures as of 30 April 2026 and may be subject to change.

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