Shunfeng International Clean Energy Limited (SFCE, In Liquidation) has disclosed the Hong Kong Stock Exchange’s (HKEX) formal resumption guidance, set a hard deadline of 18 May 2027 to lift its trading suspension, and provided a quarterly update on restructuring progress.

The HKEX has set three core conditions for resumption: 1. Withdrawal or dismissal of the 19 November 2025 winding-up order and discharge of the liquidators. 2. Demonstration of full compliance with Listing Rule 13.24, which requires sufficient operations and asset value. 3. Full market disclosure of all material information needed for investors to assess the company’s position.

If these criteria are not met within 18 months, the Listing Division will recommend delisting. HKEX also retains the right to impose a shorter remedial period.

Operationally, joint and several liquidators are examining SFCE’s books and records to establish the Group’s latest financial position and business status. Concurrently, they are exploring debt-restructuring options; no legally binding agreements with potential investors have been signed to date.

SFCE must release quarterly updates detailing business operations, the resumption timetable, and any changes to its recovery plan. While suspended, it remains subject to all Listing Rule obligations, including disclosure of notifiable transactions and publication of periodic financial results or management accounts.

Trading in SFCE shares (suspended since 11:38 a.m. on 19 November 2025) will remain halted until HKEX confirms that all resumption requirements are satisfied. Investors are advised to exercise caution and seek professional advice regarding the ongoing liquidation and trading suspension.