Capital Circle | Fantasia Holdings: Overseas debt restructuring plan approved by approximately 99.67% of creditors

Fantasia Holdings: Offshore Debt Restructuring Plan Approved by Approximately 99.67% of Creditors

On the evening of February 22, Fantasia Holdings announced that at the plan meeting, approximately 99.67% of the plan creditors supported the plan, approving (with no modifications) the Hong Kong and Cayman plans, meeting the core requirements for approval by the Hong Kong and Cayman courts. The plan meeting was held at 7:00 PM (Hong Kong time) on February 20, 2026, at the offices of Yianli Da Law Firm in Hong Kong, where voting took place.

The announcement also stated that after the approval by the creditors’ meeting, Fantasia will apply separately to the Hong Kong court and the Cayman Islands court for approval and recognition of the Hong Kong and Cayman plans. The hearing for the Hong Kong plan approval is scheduled for 10:00 AM (Hong Kong time) on March 12, 2026, and the Cayman plan approval hearing is scheduled for 10:30 AM (Hong Kong time) on the same afternoon. Once approved by the courts, the restructuring plan will officially enter the implementation stage.

Kuen Lian Holdings’ Privatization Plan Approved; Expected to Delist on March 24

On the evening of February 20, Kuen Lian Holdings announced that the privatization proposal proposed by Chairman Huang Jianye had been approved. After the plan takes effect, the company’s shares are expected to be delisted from the Hong Kong Stock Exchange starting at 4:00 PM on March 24, 2026.

Kuen Lian Holdings was formerly known as Meilian Industrial Shops, mainly engaged in local industrial and commercial property agency services (including leasing and sales of shopping malls, industrial buildings, retail shops, etc.), property investment, lending services, and some securities investments.

The company is a brand under Meilian Group. It was listed on the Hong Kong Growth Enterprise Market in 2001, transferred to the main board in 2008, becoming Hong Kong’s first listed company focused on industrial and commercial property agency services. In 2022, the company was renamed Kuen Lian Holdings. In December 2025, the company announced that Chairman Huang Jianye proposed privatization, with a maximum cash consideration of 89.473 million yuan. Huang Jianye is also the chairman of Meilian Group.

Bank of America Plans to Launch $25 Billion in Private Credit Using Its Own Funds

On February 20, reports citing insiders revealed that Bank of America committed to investing $25 billion of its own funds into private credit transactions, utilizing its own capital to invest in private credit business as an extension of its existing direct lending operations.

The bank plans to initiate these transactions through its capital markets division, which is part of its investment banking business.

China’s Green Bond Issuance Reached 1.07788 Trillion Yuan in 2025

On February 20, the China Interbank Market Dealers Association announced that in 2025, China issued a total of 1.07788 trillion yuan in various green bonds, with the year-end custody amount reaching 2.41548 trillion yuan. The overall structure of the green bond market remained stable, with green financial bonds increasing by 129.1% year-over-year, and green corporate credit bonds growing by 15.9% year-over-year.

In 2025, the secondary market for Chinese green bonds saw nearly 1.2 trillion yuan in total transactions, a 78.8% increase year-over-year. The average turnover rate for the year was 57.1%, indicating market activity roughly on par with 2024. The green bond index performed steadily, with a total annual growth of 1.7%, and a maximum drawdown of 0.4%, lower than the 1.3% maximum drawdown of the comprehensive bond index during the same period. As of the end of 2025, the green bond index included 615 bonds, a 17.6% increase, covering 255 issuers, with the financial sector accounting for the largest share at 43.9%.

Xinghaitu Completes 1 Billion Yuan Series B Financing, Valuation Surpasses 10 Billion Yuan, Becomes the First Unicorn in Yizhuang

On February 20, reports indicated that Beijing Economic-Technological Development Zone enterprise Xinghaitu (Beijing) Artificial Intelligence Technology Co., Ltd. recently achieved major milestones, completing a corporate restructuring and raising 1 billion yuan in Series B funding, bringing total financing to nearly 3 billion yuan, with a valuation exceeding 10 billion yuan.

Founded less than three years ago, Xinghaitu has completed nearly 11 rounds of financing. With this valuation breakthrough, it becomes the second domestic embodied intelligence unicorn after Yushu and Zhiyuan, and the first in Yizhuang with a valuation over 10 billion yuan. The current round’s investors include Jinding Capital, BAIC Industry Investment, and Zhengxingu Capital, with existing shareholders such as C Hui Fund making additional investments.

Disclaimer: The content and data in this article are compiled from public sources and opinions and do not constitute investment advice. Please verify before use.