---
title: "K.H. GP HLDGS: The court issued an order to liquidate the foundation of K.H. GP"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/248820968.md"
description: "K.H. GP HLDGS announced that the court has ordered the liquidation of its wholly-owned subsidiary Jianhong Foundation on July 16, 2025. Jianhong Foundation mainly engages in foundation and construction services and has suspended operations since January 2025 due to the deterioration of the property development industry in Hong Kong. Nevertheless, the liquidation is expected to have a minimal impact on the group's financial condition and overall operations"
datetime: "2025-07-16T14:15:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/248820968.md)
  - [en](https://longbridge.com/en/news/248820968.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/248820968.md)
---

# K.H. GP HLDGS: The court issued an order to liquidate the foundation of K.H. GP

According to the announcement from K.H. GP HLDGS (01557), there is a liquidation petition filed by Ince & Co (original petitioner) and Yi Huang International Limited (substitute petitioner). After the court dismissed the petition from the original petitioner against K.H. Foundation Limited (K.H. Foundation), the substitute petitioner replaced the original petitioner as the petitioner against K.H. Foundation.

On July 16, 2025, the court ordered the liquidation of K.H. Foundation during the petition hearing.

K.H. Foundation is a wholly-owned subsidiary of the company, primarily engaged in providing foundation and construction services and leasing machinery in Hong Kong. As of the fiscal year ending March 31, 2025, K.H. Foundation accounted for over 5% of the group's total assets and revenue. Therefore, under the listing rule 13.25(2), K.H. Foundation is considered a major subsidiary of the company. Despite the management's efforts to maintain its business operations, the deterioration of the property development industry in Hong Kong has made it difficult to sustain operations. Consequently, K.H. Foundation has suspended operations since January 2025. In light of the above circumstances, it is expected that the liquidation of K.H. Foundation will not have a significant adverse impact on the group's financial condition and overall operations

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