Shandong Fengxiang Co., Ltd. Class H (HK:9977) has released an update.
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Shandong Fengxiang Co., Ltd. has announced that it will receive liquidation assets including cash and trust units valued at over RMB 193 million as part of the bankruptcy proceedings of its former controlling shareholders. The assets, distributed under two reorganization service trusts, may face liquidity challenges, prompting the company to consult with auditors on proper accounting measures. Investors are advised to remain cautious with the company’s securities due to the uncertainties involved.
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