On July 9, the People's Court of Jiangchuan District, Yuxi City, Yunnan Province, declared the bankruptcy of Yunnan Jiangchuan Cuifeng Cement Co., Ltd.
It was found that as of October 10, 2018, the total assets of Yunnan Jiangchuan Cuifeng Cement Co., Ltd. were 256993513.64, the total liabilities were 581660349, and the total owner's equity was-324666835. The asset-liability ratio was 226.33%.
Upon appraisal, the market value of inventory, buildings (structures), equipment, projects under construction and land use right of Yunnan Jiangchuan Cuifeng Cement Co., Ltd. on the benchmark date of May 6, 2024 is RMB 55.2114 million. The total amount of unopposed creditor's rights confirmed by the court ruling is 452739347.5 yuan. The court held that the assets of Yunnan Jiangchuan Cuifeng Cement Co., Ltd. were insufficient to pay off all debts and were seriously insolvent.
It is understood that in July 2023, the bankruptcy liquidation case of Yunnan Jiangchuan Cuifeng Cement Co., Ltd. The main assets include: 8 parcels of land with a total area of 63,200 square meters; 9 property ownership certificates, one new dry process cement clinker production line with a daily output of 1,000 tons and one new dry process cement clinker production line with a daily output of 2,000 tons . The production line has relatively complete supporting equipment and is equipped with a 6,000-kilowatt waste heat power generation device; Large amount of advance payment, etc. Except for one piece of land and some equipment, all of them have been mortgaged.
