STERLING GP (01825.HK): Has rejected JPO's request for emergency financial assistance regarding a total debt of approximately HK$147 million owed to JPO and Santai.

NewTimeSpace News: STERLING GP (01825.HK) issued a voluntary statement on June 12,2026, stating that as of September 30,2025, the Group had outstanding receivables from JPO and Santai totaling approximately HKD 147.1 million (about US$18.9 million). As of September 30,2025, neither JPO nor Santai had made any repayments to the Group.

Recently, JPO has requested emergency financial assistance of approximately US$200,000 to US$600,000 (approximately HK$1.6 million to HK$4.7 million) from the Group and Ms.Wang Meihui, Chairman, Executive Director and Chief Executive Officer of the Company, to meet its operational needs, including payments to creditors. JPO stated that failure to obtain such support could lead to bankruptcy within a very short period.

After reviewing JPO's financial condition, business prospects, and the substantial receivables owed by JPO and Santai to the Group, the Board of Directors resolved on June 12,2026, not to provide the requested financial support. Ms.Wang confirmed that she herself has no intention of providing such support.

The company stated that if JPO fails to meet its urgent operational needs and goes bankrupt, its financial condition and cash flow could be adversely affected due to uncertainties regarding the collection of receivables.

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