Guangzhou R&F Properties Co (HK:2777) has released an update.
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Guangzhou R&F Properties Co has announced the appointment of receivers over the assets of certain subsidiaries following winding-up petitions due to unpaid loans. The action includes assets critical to the company, such as 68 hotels and 1 office building in China. The company is working on a restructuring plan to secure its future and advises shareholders and investors to exercise caution when dealing with its shares.
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