Kexuan Power Holdings Limited (00476.HK) and its subsidiary China Power have received a legal demand letter.

Zhongtong Financial APP News, Kexuan Power Holdings (00476.HK) issued an announcement stating that the Chongqing Arbitration Commission issued a ruling regarding the sale agreement for the sale of all shares of Chongqing Zhongtong New Energy Automobile Technology Co., Ltd. The company and its wholly-owned subsidiary, China Power New Energy Technology Co., Ltd. (China Power), each received, on December 24, 2025, a statutory demand letter dated December 24, 2025, from legal advisors acting on behalf of the creditors (referred to as "statutory demand letters" respectively, collectively as "such statutory demand letters"), requiring the company (as the guarantor) and China Power (as the primary debtor) to repay a total of RMB 38,967,200 within 3 weeks after the statutory demand letter delivery date, which includes the price, fines and compensation paid by the buyer according to the sale agreement dated June 2, 2023. If repayment is not made, the creditors may apply for liquidation against the company and China Power.