RSUN SER: The guarantor claims to have taken action to enforce its mortgage rights on the pledged shares
RSUN SER announced that the pledgor Serica Agency Limited has taken action to enforce its mortgage rights over the pledged shares on October 21, 2025. The pledged shares total 302 million shares, accounting for 72.77% of the company's issued share capital. The company's board of directors stated that they are seeking legal advice to protect their rights and believe that this matter has no significant impact on the company's operations and financial condition
According to the Zhitong Finance APP, RSUN SER (01971) announced that RSUN SER (Holdings) Group Limited has pledged a total of 302 million ordinary shares (pledged shares) of the company's issued share capital to Serica Agency Limited (the pledgee) as collateral for certain notes issued by Hongsheng Limited, as part of the completion of the 2024 Hongsheng restructuring plan occurring on August 19, 2024. On October 21, 2025, the pledgee reportedly took action to enforce its security interest in the pledged shares and appointed Wong Wing Sze Tiffany and Edward Simon Middleton (the receivers) as joint and several receivers and managers for the pledged shares. As of the date of this announcement, the pledged shares (i.e., the company's 302 million ordinary shares) account for approximately 72.77% of the company's total issued share capital.
The board of directors has been informed that RSUN SER (Holdings) Group Limited is seeking legal advice regarding this matter to protect its interests in the pledged shares. In addition, the company has also received notifications from the receivers and managers. The company is currently seeking legal advice on this matter.
The board of directors believes that the company's operational and financial conditions are normal at this time, and since the company is not a party to this matter, it does not have a significant impact on the company's business operations, financial condition, and debt repayment ability
