Bankruptcy and Liquidation of a Cement Plant in Yunnan

August is the harvest season.

Recently, a group of people are dismantling production equipment in the factory area of Yunnan Yibiao Cement Group Co., Ltd.

Originally, since Yunnan Yibiao Cement Group Co., Ltd. stopped production in May 2015, it has been unable to recover after cooperation and reorganization with many enterprises such as Lufeng Zhihong Guiqiang Trading Co., Ltd. Upon the application of Yunnan Yingzhong Law Firm, the People's Court of Lufeng City ruled on April 14, 2023 that Yunnan Yibiao Cement Group Co., Ltd. was bankrupt and liquidated. On the same day, Jianwei (Kunming) Law Firm was appointed as the administrator of Yunnan Yibiao Cement Group Co., Ltd. After the

administrator is stationed, under the supervision and guidance of the People's Court of Lufeng City, the administrator investigates and verifies the property of Yunnan Yibiao Cement Group Co., Ltd. according to law, and evaluates the assets through the intermediary agency selected by open recruitment. The appraisal price of some production equipment of Yunnan Yibiao Cement Group Co., Ltd. is 1289067.79 yuan. On May 28, 2023, the People's Court of Lufeng City organized the first creditors' meeting of Yunnan Yibiao Cement Group Co., Ltd., and the meeting adopted the Bankruptcy Property Price Change Plan of Yunnan Yibiao Cement Group Co., Ltd. After the public auction procedure, on July 29, 2023, Chen Dengrong, a natural person, won the above-mentioned equipment at a price of 4089067.69 yuan.

Chen Dengrong paid the equipment bidding money as agreed, and organized personnel to enter the site on August 10 to dismantle and ship the equipment and materials. With the coordination and cooperation of the special class of Yibiao of Lufeng Municipal People's Government and the Municipal Housing and Construction Bureau, the disassembly and transportation work is being carried out smoothly. The sound of

"jingling, clanging" disassembling and assembling equipment constitutes a harmonious and radical symphony. In the symphony sonata, the bankruptcy liquidation of Yunnan Yibiao Cement Group Co., Ltd. is advancing in accordance with the law.