NICHE-TECH SEMI (08490) has disclosed that its executive chairman, executive director, and controlling shareholder, Dr. Zhou Boxuan, along with executive director and controlling shareholder Professor Zhou Zhenji, each received bankruptcy petitions filed against them in the High Court of the Hong Kong Special Administrative Region on September 11, 2026, following the trading session.
According to information provided by Dr. Zhou and Professor Zhou, the bankruptcy petitions relate to certain borrowings undertaken by the company's controlling shareholder, NICHE-TECH Investment Holdings Limited, for which Dr. Zhou and Professor Zhou provided guarantees. The hearings for each bankruptcy petition have been scheduled for December 1, 2026. Both individuals have informed the company that they are seeking legal advice regarding the petitions.
The group is not a party to the aforementioned borrowings or guarantees. The outstanding debt is solely borne by NICHE-TECH Investment and does not constitute a liability of the group. Although the bankruptcy petitions are directed at Dr. Zhou and Professor Zhou in their personal capacities as guarantors, rather than representing insolvency or winding-up proceedings against the group, the board has noted the following: first, NICHE-TECH Investment, as the controlling shareholder, holds 357 million shares of the company, representing approximately 50.6% of its issued share capital; second, both Dr. Zhou and Professor Zhou serve as executive directors and controlling shareholders of the company; and third, if the bankruptcy petitions result in bankruptcy orders against either or both individuals, it could impact their respective positions as directors and controlling shareholders, as well as the ownership and/or control of their interests in the company.
As of the date of this announcement, based on information currently available to the board, the board is not aware that the bankruptcy petitions have triggered any additional defaults or cross-defaults under any other financing arrangements of the group.