PwC has been appointed as the liquidator of Jingye Hong Kong, a subsidiary of China Minmetals Group.

The provisional liquidator, Guo Fu Hao Hua (Hong Kong) Certified Public Accountants Limited, is carrying out the winding-up order for China Jingye Engineering Technology (Hong Kong). Recently, Guo Fu Hao Hua applied to the High Court to designate So Man Chun and Wan Hiu Yeung of PricewaterhouseCoopers as the official liquidators of Jingye Hong Kong. Today, the court accepted the application and appointed them as the official liquidators of the Jingye Hong Kong company.

A search of the records shows that Jingye Hong Kong had previously been ordered by the High Court to be wound up. As the largest creditor of the Jingye Hong Kong company, Chun Wo Construction Engineering filed a petition in 2024, stating that between 2022 and 2023, pursuant to the agreement, it made advance payments on behalf of the Jingye Hong Kong company to its subcontractors, suppliers and workers, for a total amount exceeding RMB 95 million (including interest). However, the Jingye Hong Kong company failed to repay the debt on time and has continued to be in arrears.

At the time, the court noted that more than RMB 83 million of the sum was undisputed, and it also considered the Jingye Hong Kong company’s alleged reasons for procedural delay during the trial—such as many employees in Jingye leaving, and communication delays caused by the directors and the parent company being unfamiliar with the system—to be mere excuses. The immediate parent company of Jingye Hong Kong is China Jingye Engineering Technology, which is affiliated with the China Metallurgical Group, and its ultimate controlling shareholder is China Minmetals Group.