Guangzhou R&F Properties Co (HK:2777) has released an update.
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Guangzhou R&F Properties Co. has announced that one of its subsidiaries, which holds assets including 68 hotels and an office building, is facing a winding-up petition for the non-repayment of a portion of a $613.66 million loan. The company believes the petition will not significantly impact its operations and is in talks with the petitioner to reach an amicable resolution. Shareholders and potential investors are cautioned to exercise care when dealing in the company’s shares.
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