FINWIRES · TerminalLIVE
FINWIRES

Liaoning Port Slates June 22 Creditors' Meeting for Bankrupt Former Unit

By

Liaoning Port (HKG:2880, SHA:601880) said the first creditors' meeting for its former wholly owned subsidiary DCT Logistics has been scheduled for June 22 as part of its bankruptcy liquidation process, according to a Tuesday Hong Kong bourse filing.

The port operator said it has lost control of DCT Logistics, which is no longer consolidated into its financial statements.

The Dalian Economic and Technological Development Zone People's Court accepted DCT Logistics' bankruptcy liquidation application in December 2025 and appointed a bankruptcy administrator.

The bankruptcy administrator has completed the handover of assets and records and is conducting an asset inventory, financial audit, and valuation.

The company said the proceedings are not expected to have a material adverse effect on its financial position or operating results.

Related Articles

Asia

AcroMeta's Subscription Deal Collapses as Investor Fails Payment; Shares Up 6%

AcroMeta's (SGX:43F) deal to raise SG$1 million through the subscription of 16.7 million shares with a subscriber named Elisabet, collapsed after the investor failed to make the payment by the deadline, according to a Tuesday bourse filing.Shares of the engineering services company were up nearly 6% in Wednesday trading.The subscriber was expected to remit the amount by May 31. The company is now seeking legal advice over the matter following the breach of the agreement.

$SGX:43F
Asia

GrainCorp's Through-The-Cycle Earnings Power Under Doubt Even as Fiscal 2027 EBITDA Estimate Unchanged, Jarden Says

GrainCorp's (ASX:GNC) fiscal 2027 earnings before interest, taxes, depreciation, and amortization (EBITDA) estimate was almost unchanged at around AU$217 million, but there is more skepticism than consensus on the firm's through-the-cycle earnings power, with the fiscal 2028 EBITDA estimate 16% and net profit after tax estimate 39% below consensus, Jarden said in a note on Tuesday.The Australian Bureau of Agricultural and Resource Economics and Sciences' (ABARES) first fiscal 2027 crop estimate east coast winter crop of 23.8 million metric tons is in line with expectations and consistent with an average crop size. If the El Niño phenomenon develops over June and July, creating soft levels of rainfall, then for fiscal 2027 there are downside risks to ABARES' forecast.The canola crop forecast is relevant for GrainCorp's nutrition and energy segment, with Jarden estimating it to account for 48% of the fiscal 2027 EBITDA estimate. ABARES' fiscal 2027 east coast canola crop estimate of 2.2 million metric tons is well below the fiscal 2021 to fiscal 2026 period but is impacted by a weak New South Wales forecast.The investment firm retained its neutral rating and AU$5.40 price target on GrainCorp.GrainCorp's shares gained about 2% in recent Wednesday trade.

$ASX:GNC
Asia

Sichuan Road & Bridge Exits Private Equity Fund with Early Lump-Sum Payout

Sichuan Road & Bridge (SHA:600039) subsidiary Road & Bridge Group exited a 111.2-million-yuan private equity fund investment tied to a highway project in Guangxi, China.The fund shares were transferred to Guangxi Jiaosheng, with proceeds collected early as a lump sum of 98.3 million yuan, according to a Tuesday filing with the Shanghai bourse.Shares of the construction company were down 3% in recent trade.

$SHA:600039