Jinke Smart Services Group Co., Ltd. Class H (HK:9666) has released an update.
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Jinke Smart Services Group Co., Ltd. is seeking shareholder approval for a Debt Settlement Mandate after Jinke Property Group defaulted on a loan repayment of RMB1.5 billion plus interest. The company has taken legal action and applied for judicial enforcement, with the receivables due now totaling over RMB1.63 billion. This transaction is considered a major and connected transaction under the Listing Rules, requiring various compliance steps such as reporting and shareholder approval.
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