VPOWER GROUP (01608) Plunges Over 30% in Afternoon Trading After Facing Liquidation Petition Involving $31.94 Million Unpaid Claims

Stock News

Dec 02, 2025

VPOWER GROUP (01608) resumed trading today, with its decline accelerating in the afternoon session to over 30%. At the time of writing, the stock was down 34.3% to HKD 0.136, with a turnover of HKD 572,800.

The sharp drop follows an announcement on December 1 that China CRRC Hong Kong Capital Management Limited (the petitioner) filed liquidation petitions against both VPOWER GROUP and its wholly-owned subsidiary, VPOWER GROUP Holdings, with the Hong Kong High Court on November 28, 2025. The petitions relate to certain financial leasing agreements between the petitioner and VPOWER GROUP Holdings, as well as VPower Technology Company Limited, along with guarantees provided by VPOWER GROUP. The claimed unpaid amount totals approximately USD 31.9439 million.

VPOWER GROUP stated that it and its subsidiary oppose the petitions. The company is seeking legal advice and plans to take all necessary actions to protect its legal rights. As of the announcement date, VPOWER GROUP has no plans to apply for a validation order from the High Court.

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