SINO-OCEAN GP (03377.HK): Subsidiary Sino-Ocean Holdings' overdue borrowings at RMB 16.694 billion; RMB 294 million added in August
- Of the matured and unpaid borrowings as at 31 August 2026, bank loans accounted for RMB 3.937 billion, corporate credit bonds for RMB 258 million, other interest-bearing liabilities for RMB 6.498 billion and principal and interest owed to non-bank institutions for RMB 6.001 billion.
- The figures as at the end of August 2026 are preliminary statistics that have not been audited, may differ from audited figures and are subject to the audited figures.
- Sino-Ocean Holdings had no new major litigation in August 2026 while the procedural status of two major litigations changed; the Company stated that the situation will have a certain adverse impact on the production and operations and debt-servicing capability of Sino-Ocean Holdings, although its daily management, corporate governance and production and operations are currently normal and it is negotiating with creditors for an overall resolution plan.
NewTimeSpace News: On 11 September 2026, Sino-Ocean Group Holding Limited (stock code: 03377) provided an inside information update on the failure of its wholly-owned subsidiary Beijing Sino-Ocean Holdings Group Co., Ltd. (formerly Sino-Ocean Holdings Group (China) Co., Ltd., "Sino-Ocean Holdings") to repay matured debts and on its litigation, as set out in the announcement published by Sino-Ocean Holdings on the website of the Shanghai Stock Exchange on the same date.
On debts, at the end of 2025, Sino-Ocean Holdings had matured and unpaid borrowings totalling RMB 18.160 billion. As at 31 August 2026, its matured and unpaid borrowings totalled RMB 16.694 billion, comprising RMB 3.937 billion of matured and unpaid bank loans, RMB 258 million of unpaid corporate credit bonds, RMB 6.498 billion of other interest-bearing liabilities, and RMB 6.001 billion of matured and unpaid principal and interest owed to non-bank institutions, with the matured and unpaid amount increasing by RMB 294 million during August. The announcement stated that Sino-Ocean Holdings is actively communicating with holders and formulating and implementing solutions and will continue to work towards resolving the relevant issues; the figures as at the end of August 2026 are preliminary statistics that have not been audited, may differ from audited figures and are subject to the audited figures.
On litigation, Sino-Ocean Holdings had no new major litigation in August 2026, while the procedural status of two major litigations changed, and as at the end of August 2026 one case in which it is listed as a dishonest judgment debtor remained outstanding, with details available in the announcements published by Sino-Ocean Holdings on the website of the Shanghai Stock Exchange.
The Company stated that the above failure to repay matured debts and the litigation will have a certain adverse impact on the production and operations and debt-servicing capability of Sino-Ocean Holdings, although its daily management, corporate governance and production and operations are currently normal. Sino-Ocean Holdings is actively communicating and negotiating with the relevant institutions and creditors to seek an overall resolution plan, striving to formulate and implement solutions to the relevant issues and to properly resolve its debt problems, and will strictly perform its information disclosure obligations in accordance with laws and regulations. The Company will also make further announcements as and when required in accordance with the relevant rules and regulations, and reminded shareholders, holders of the Group's debt securities and potential investors not to rely entirely on the information contained in the announcement and to exercise caution when dealing in the securities of the Company.
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