TRANSTECH (09963.HK) Futong China may join 22-firm restructuring; 2 Nov hearing

NewTimeSpace News: Transtech Optelecom Science Holdings Limited (TRANSTECH, 09963.HK) announced inside information that its controlling shareholder Futong Group Co., Ltd. (Futong China) received a written notice from the People's Court of Jiashan County, Zhejiang Province on 30 October 2026.

According to the notice, on 17 July 2026 the court ordered 22 companies, including Futong Group (Jiashan) Communication Technology Co., Ltd., to undergo substantive consolidation, appointing an administrator. On 22 October, the administrator applied to include Futong China, Hangzhou Futong Investment Co., Ltd. and Hangzhou Futong Optical Communication Investment Co., Ltd. in the consolidation, with a court hearing scheduled for 2 November 2026.

The company said Futong Investment holds 80% of Futong China, which holds 100% of Futong Optical Communication, which wholly owns Futong Optical Fiber (Hong Kong) Limited; the latter directly holds 195,000,000 shares, about 50.34% of the issued shares. The company stressed the application concerns its indirect controlling shareholder rather than the company itself, and its business continues to operate normally.