Hong Kong Economic Times Breaking News – Hong Kong Finance – Lo Bingxian appointed as the liquidator of Jingye Hong Kong under China Minmetals Group – hkej.com

The provisional liquidators of China Jingye Engineering Technology (Hong Kong) are now being appointed. The accounting firm Guo Fu Hao Hua (Hong Kong) CPA Limited is currently carrying out a winding-up order for China Jingye Engineering Technology (Hong Kong). Guo Fu Hao Hua has applied to the High Court to designate So Man Chun and Wan Hiu Yeung of Lo & Partners (PwC) as the official liquidators of Jingye Hong Kong. The court accepted the application today and appointed them as the official liquidators of the Jingye Hong Kong company.

A check of the records shows that Jingye Hong Kong had previously been ordered to be wound up by the High Court. As the largest creditor of Jingye Hong Kong, Chun Wo Construction Engineering filed a petition in 2024, stating that between 2022 and 2023, pursuant to the agreement, it advanced payments on behalf of Jingye Hong Kong to its subcontractors, suppliers and workers, with a total amount of over RMB 95 million (including interest). However, Jingye Hong Kong was unable to repay the debts on time and has continued to fall behind on repayments.

The court noted at the time that more than RMB 83 million of the amounts involved was undisputed. It also considered that the reasons Jingye Hong Kong cited for procedural delays—such as many employees within Jingye leaving, and communication delays caused by the directors and the parent company not being familiar with the system—were nothing more than excuses. Jingye Hong Kong’s direct parent company is China Jingye Engineering Technology, which is affiliated with China Metallurgical Group, and its ultimate controlling shareholder is China Minmetals Group.