On October 15, COSCO Group issued an announcement that it did not make an advance payment of 3.8 million US dollars of semi-annual interest in accordance with the requirements of the US$200 million 3.80% credit-enhancing green bill due in 2025. COSCO Group also announced the progress of overseas debt restructuring: the restructuring is being carried out in an orderly manner, and the hearing on the UK restructuring plan will be held in the High Court of England and Wales on October 18 as scheduled. At that time, it will seek an order from the English court to hold a meeting of creditors within the scope to consider and approve the UK restructuring plan as appropriate. We learned from people familiar with the matter that COSCO Group's overseas creditor panel will fully oppose COSCO Group's upcoming convocation hearing in the English court on October 18. The creditor panel has appointed the London team of Linklaters and representatives of the UK's Imperial General Counsel to ask the court to postpone the hearing and request the company to respond to creditors' concerns.

On October 15, COSCO Group issued an announcement that it did not make an advance payment of 3.8 million US dollars of semi-annual interest in accordance with the requirements of the US$200 million 3.80% credit-enhancing green bill due in 2025. COSCO Group also announced the progress of overseas debt restructuring: the restructuring is being carried out in an orderly manner, and the hearing on the UK restructuring plan will be held in the High Court of England and Wales on October 18 as scheduled. At that time, it will seek an order from the English court to hold a meeting of creditors within the scope to consider and approve the UK restructuring plan as appropriate. We learned from people familiar with the matter that COSCO Group's overseas creditor panel will fully oppose COSCO Group's upcoming convocation hearing in the English court on October 18. The creditor panel has appointed the London team of Linklaters and representatives of the UK's Imperial General Counsel to ask the court to postpone the hearing and request the company to respond to creditors' concerns.