Announcement made pursuant to rules 13.51B(2) and 13.51(2)(k)

Summary by 6ix AI

This filing is an announcement made by Sunac China Holdings Ltd. regarding a court order related to a guarantee contract dispute involving its chairman, Mr. Sun Hongbin. The court order requires Mr. Sun to bear joint and several guarantee liability for a significant amount owed by a subsidiary of the company. The board believes that Mr. Sun's actions were not due to any dishonest conduct and considers him suitable to continue as an executive director. The board also states that the court order will not materially impact the company's business operations.

Written by 6ix AI from the company’s filing. How 6ix writes summaries