Cocoon Holdings (428) Announces Winding-Up Petition Over HK$11.1 Million Promissory Note

Bulletin Express10-23

On 21 October 2025, Cocoon Holdings Limited (the “Company”) received a winding-up petition in the High Court of Hong Kong. The petitioner, identified as a holder of a promissory note, alleges the Company has not repaid both principal and interest totaling approximately HK$11.1 million.

According to the announcement, the petition has not yet been verified due to ongoing legalisation and notarisation processes in the People’s Republic of China. A hearing for the case is scheduled for 31 December 2025. As of the announcement date, no winding-up order has been granted by the Court, and the Company indicates that its business operations are not adversely affected at present.

The Company is seeking professional advice regarding the possibility of dismissing or staying the petition. It also highlights that any disposition of Company property or transfer of shares may be rendered void by the Court under local winding-up regulations unless validated, which could lead to restrictions on depositing shares into the Central Clearing and Settlement System (CCASS). Cocoon Holdings advises shareholders and potential investors to remain aware of these potential constraints while further legal proceedings unfold.

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