Shunfeng International Clean Energy Limited (SFCE, 01165) provided a quarterly update on its ongoing initiatives to address the disclaimer of opinion issued in connection with its 2024 financial statements. Management and creditors have engaged in multiple discussions regarding a debt restructuring plan, and several major creditors support the company’s proposal to pursue a scheme of arrangement. SFCE reported that discussions with potential investors have advanced, with certain parties completing due diligence and discussing concrete terms potentially to be finalized by the end of December 2025.

In connection with various disposals from 2019 to 2021, SFCE has not received further proceeds primarily due to pending documentation and settlement procedures, such as land certificate applications, approval in subsidy compliance reviews, and resolution of ongoing disputes. The anticipated receipt of these remaining amounts spans between December 2025 and June 2026, depending on project-specific conditions.

Meanwhile, the company’s financial advisor has been in active talks with interested parties to finalize a restructuring agreement. SFCE also noted ongoing communication with authorities concerning the national subsidy compliance list, which is key to further potential disposals. Management reaffirmed its commitment to resolving the outstanding matters and will provide subsequent announcements as the implementation of the action plans progresses.