XH NEWS MEDIA (00309.HK): Winding-up Petition Withdrawn as HKD 588,808 Debt Fully Settled

NewTimeSpace News: On 28 August 2026, Xinhua News Media Holdings Limited (stock code: 00309) announced that it had received a sealed copy of an order dated 20 August 2026 from the High Court of Hong Kong, pursuant to which the Court, by consent of all parties, permitted the petitioner to withdraw the winding-up petition.

The winding-up petition was presented against the Company by Ngans Lawyers LLP (the petitioner) on 16 June 2026, and the Company published a related announcement on 18 June 2026. Following negotiations between the Company and the petitioner, both parties reached full and final settlement terms in respect of the petition, which were consolidated into a consent summons issued, filed and served on 28 July 2026.

Under the consent summons, the parties jointly applied for various orders permitting the withdrawal of the petition upon the Company's undertakings to the Court and the petitioner to pay HKD 588,808 to the petitioner in two instalments, being the full amount of the petition debt. The Company confirmed that, as of the date of the announcement, the petition debt of HKD 588,808 had been paid in full to the petitioner, and the hearing of the petition originally scheduled for 9:30 a.m. on 9 September 2026 has been cancelled. The Company will publish further announcement(s) to inform its shareholders and potential investors of any updates in due course.

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