CCOE faced a creditor's petition for liquidation and resumed trading on August 29

According to the announcement from Longbridge (08286), on August 6, 2025, Shuweizhi Limited (the petitioner) submitted a winding-up petition to the High Court of the Hong Kong Special Administrative Region regarding the company under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong law, claiming that the company owes several debts. The hearing for this petition is scheduled for October 31, 2025, at 9:30 AM at the High Court of the Hong Kong Special Administrative Region.

The petition was filed against the company on the grounds that the company failed to settle a fee of HKD 585,940.00 allegedly owed to the petitioner for services provided.

The company's executives received the petition on August 10, 2025, but were unaware of the document's significance and urgency, and therefore did not open it immediately or forward it to the board of directors. The board of directors became aware of the petition later in the afternoon on August 25, 2025, and immediately took action to prepare and arrange for the publication of an announcement regarding the petition. The company will communicate with the petitioner regarding this incident in hopes of reaching a settlement and withdrawing the petition as soon as possible.

The board of directors hereby reminds shareholders and potential investors that the relevant circular regarding the transfer of shares of the listed issuer subject to the winding-up petition was published by Hong Kong Securities Clearing Company Limited on December 28, 2016. Following the filing of the winding-up petition, any subsequent transfer of shares without court approval may be invalid. Given the potential restrictions and uncertainties regarding the transfer of shares of the affected listed issuer, Hong Kong Securities may exercise its powers under the general rules of the Central Clearing and Settlement System (Central Clearing System) at any time without prior notice to suspend any services related to the shares of the affected listed issuer. This may include suspending the acceptance of shares of the affected listed issuer into the Central Clearing System. Shares of the affected listed issuer that have been received by Hong Kong Securities but have not yet been re-registered under Hong Kong Central Clearing (Agent) Limited will also be returned to the relevant participants of the Central Clearing System, and Hong Kong Securities has the right to deduct the relevant securities of the affected listed issuer from the Central Clearing System participants' accounts to offset any shares granted to those participants. Generally, such measures will end when the winding-up petition has been withdrawn, dismissed, permanently stayed, or the affected listed issuer has obtained the necessary approval from the relevant court.

In addition, the company has applied to the Stock Exchange for the resumption of trading of its shares starting from 9:00 AM on August 29, 2025