China Ecotour restructuring amid financial woes and leadership changes

China Ecotour is undergoing significant debt restructuring, with various initiatives underway to address liquidity issues and a disclaimer of opinion from its auditor. The company incurred a net loss of HK$73,087,000 for the year ended June 30, 2025, and its current liabilities exceeded current assets by HK$479,108,000. Goldwide, a subsidiary, defaulted on mortgage loans and convertible bonds in October 2023, leading to the appointment of receivers.

In June 2025, the company proposed an exchange of outstanding New Option 1 Bonds for new unlisted bonds, a move expected to save time and costs in debt restructuring. Ms. Zhu Xinxin was appointed chief executive in November 2024, and Mr. Lau Fai Lawrence was appointed independent non-executive director in June 2025, restoring the board's compliance with Listing Rules on independent directors.