Greatview Aseptic Packaging Company Limited (Greatview) disclosed a quarterly update on 19 May 2026 covering the status of trading resumption, audit progress, litigation, and operating conditions.
Key progress on resumption guidance
1. Second-Stage Investigation completed • The Special Investigation Committee confirmed that the follow-up work addressed all outstanding issues from the First-Stage Investigation. • Remedial measures, including an internal control overhaul, have already been implemented across the Group.
2. Internal Control Review finalised • BT Corporate Governance Limited completed its review; all recommendations have been adopted. • The Board considers the Group’s controls now “adequate and effective” for Listing Rule compliance.
3. Outstanding financial results released • Annual results and reports for FY2024 and FY2025, plus FY2025 interim results, were all published on 21 and 28 April 2026, eliminating disclosure backlogs.
Audit qualifications still in place
• FY2024: Rongcheng Hong Kong issued a disclaimer of opinion due to scope limitations tied to the January 2024 restructuring and deconsolidation of a 51% stake in Greatview Holdings International Limited (GHIL). Missing records for GHIL and its related fund blocked verification of opening balances, associate accounting, FVTPL assets, and the gain on loss of control.
• FY2025: A qualified opinion persisted. Lack of documentation for GHIL and the fund affected the valuation of FVTOCI and FVTPL assets and the share of profits from associates.
The Board believes these qualifications could be mitigated for FY2026 if complete GHIL financial information becomes available and ongoing court cases clarify ownership and asset values.
Ongoing legal proceedings
• Court Cases: Greatview and subsidiaries have filed actions to unwind the restructuring (October 2025 Proceedings) and to compel delivery of GHIL’s FY2025 audited statements (February 2026 Proceedings). Both remain pending.
• Arbitration: One HKIAC case and three SHIAC cases have been initiated against GHIL subsidiaries, mainly contesting framework agreements and related contracts. No tribunal decisions have been issued.
Business operations unchanged
• Packaging materials, filling machines, and digital services continue to operate normally. Management transition at subsidiary level is in progress, but no material operational disruptions have been reported.
Trading status
Greatview’s shares have remained suspended since 19 February 2025. Suspension will continue until the Stock Exchange’s resumption conditions are fully met.
Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.
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