SC HOLDINGS (00413.HK): Subsidiary Wah Shing Toys Ordered to be Wound Up by the High Court

NewTimeSpace News: On 16 September 2026, South China Holdings Company Limited (stock code: 00413) published an announcement under Rule 13.09 of the Listing Rules and the inside information provisions of Part XIVA of the Securities and Futures Ordinance, disclosing that its subsidiary, Wah Shing Toys, was ordered to be wound up by the High Court on 16 September 2026 under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong).

The announcement noted that two creditors had separately presented winding-up petitions against Wah Shing Toys to the High Court. The High Court held a hearing on 2 September 2026, at which the hearing of the first petition was adjourned to 16 September 2026, and the second petition was withdrawn pursuant to a summons taken out by its petitioner on 25 August 2026.

The Board considers that the Group is able to continue its other principal businesses and that the winding up of Wah Shing Toys is not material to the Group as a whole and will not affect the operations or financial position of its other principal subsidiaries. As the business of Wah Shing Toys has been loss-making, ceasing its operations will remove a drag on the Group's consolidated results and is expected to bring cost savings, with a positive impact on the Group's financial position, while the Group's other businesses are relatively diversified. The Company will make further announcements on any material developments in the winding-up proceedings in due course.

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