Xinyuan Real Estate, the controlling shareholder of Xinyuan Property Management (HKG:1895), faces a creditor-led bankruptcy petition filed in a New York court on April 14.
The board confirms no bankruptcy ruling has been issued against Xinyuan Real Estate, but the situation remains fluid, potentially impacting investor confidence, according to its Monday bourse filing.
Xinyuan Real Estate holds 255.4 million shares in the Hong Kong-listed company, raising concerns about cascading financial risks despite the board's assurance of minimal operational impact.
The company warns shareholders and potential investors to tread carefully, highlighting regulatory disclosure obligations under Hong Kong Listing Rules.
While the group asserts current stability, market scrutiny intensifies over XYRE's ability to maintain its controlling stake amid US legal proceedings.
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