CHINA ART FIN received a statutory debt repayment notice
CHINA ART FIN received a statutory demand for repayment from creditor Lin Xiaomei, requiring the company to pay a total of HKD 7.8949 million for the outstanding loans and interest as of September 30, 2024, within 21 days after August 29, 2025, as well as the outstanding interest of HKD 279,900 from October 1, 2024, to August 28, 2025, and default interest of HKD 278,800. If payment is not made on time, the creditor may file for the company's liquidation
According to the announcement from CHINA ART FIN (01572), on August 29, 2025, the company received a statutory demand for repayment (statutory demand for repayment) issued by Lin Xiaomei (creditor) under Section 178(1)(a) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, requiring the company to pay the total amount of outstanding loans as of September 30, 2024, along with the agreed interest of HKD 7.8949 million, within 21 days of the delivery of the statutory demand for repayment; the outstanding interest from October 1, 2024, to August 28, 2025, of HKD 279,900; and the outstanding default interest from June 19, 2025, to August 28, 2025, of HKD 278,800. If payment is not made on time, the creditor may file a winding-up petition against the company
