On November 25, ST Zhongli released the latest progress announcement of the company's restructuring. ST Zhongli expressed uncertainty about the success of the company's pre-reorganization. If the company's pre-reorganization is successful, the court will examine whether to accept the application for reorganization according to law, and whether the company can enter the reorganization procedure is uncertain. Specific progress of
time:
On January 18 this year , the company learned that the creditor, Jiangsu Xinyi Decoration Engineering Co., Ltd., was unable to pay off the debts due and had obvious lack of solvency, but had the value of reorganization. An application for reorganisation and pre-reorganisation of the Company was submitted to the Intermediate People's Court of Suzhou City, Jiangsu Province.
On February 6 , the Company received the Notice [ (2023) Su 05 Po Shen No.1] from the Suzhou Intermediate People's Court, which reviewed the creditor's application for reorganization of the Company on January 29, 2023.
On February 4 , the company received the Decision served by the Suzhou Intermediate Court, which decided to start the pre-reorganization procedure of the company and appointed the liquidation team of Jiangsu Zhongli Group Co., Ltd. as the temporary administrator of the company.
On March 6 , the temporary administrator invited qualified appraisal institutions to participate in the bidding, and finally confirmed that the appraisal institution was Beijing Tianjian Xingye Asset Appraisal Co., Ltd.
On March 17 , the temporary administrator selected financial consultants through public recruitment and on-site evaluation, and finally determined that the financial advisory body was Huatai United Securities Co., Ltd. and the alternative financial advisory body was Shen Wanhongyuan Securities Underwriting Sponsor Co., Ltd.
On June 6 , the Suzhou Intermediate Court issued (2023) Su 05 Poshen No.3 and (2023) Su 05 Poshen No.3 respectively. The liquidation team of Jiangsu Zhongli Group Co., Ltd. was appointed as the temporary administrator of Zhonglian Optoelectronics and Tenghui Photovoltaic .
On June 7 , the temporary administrators of subsidiaries Zhonglian Optoelectronics and Tenghui Photovoltaic issued the Announcement of Creditor's Rights Declaration of Zhonglian Optoelectronics and Tenghui Photovoltaic respectively on the National Enterprise Bankruptcy Reorganization Case Information Network.
On July 19 , the Suzhou Intermediate Court organized a hearing on the case of bankruptcy reorganization and pre-reorganization of Changzhou Ship Cable.
On November 3 , Changzhou Ship Cable held its first creditors' meeting.
As of the disclosure date of the announcement, the review of relevant reports is being carried out in Jiangsu Province. In
August, ST Zhongli announced that it had signed the Restructuring Investment (Intention) Agreement with Changshu Guangsheng New Energy Co., Ltd. and Shenzhen Yangzi Chengxin Investment Co., Ltd.