On September 14, reports surfaced indicating that TTM Technologies (08490.HK) had made an announcement after the close of trading on September 11. According to the announcement, Dr. Chau Pok Hin, who serves as both the executive chairman and executive director of the company and is also a controlling shareholder, along with Professor Chau Chun Kei, another executive director and controlling shareholder, had been served with a bankruptcy petition by the High Court of Hong Kong. This petition is linked to specific loans extended to TTM Technologies Investment, the controlling shareholder, for which both Chau Pok Hin and Chau Chun Kei had provided personal guarantees.

The scheduled hearing for this matter is set for December 1. Notably, TTM Technologies Investment possesses a substantial stake in the company, holding approximately 50.6% of its shares. Should a bankruptcy order be issued against these two individuals, it could potentially impact their roles as directors and controlling shareholders, as well as the ownership and control of their respective interests within the company.

At present, there is no evidence to suggest that the petition has precipitated any defaults in other financing arrangements of the group. Nevertheless, shareholders and potential investors are urged to exercise due diligence and caution when engaging in share trading activities.