On July 18, the People's Court of Kangding City, Sichuan Province, issued a civil ruling that Kangding Paomashan Cement Co., Ltd. would be reorganized from July 18, 2024. According to the
ruling, on July 10, 2024, the debtor shareholder Chengdu Bailiansheng Mechanical and Electrical Equipment Co., Ltd. (Hereinafter referred to as "Bailiansheng Company") applied to the Court for the reorganization of Paomashan Company on the grounds that Paomashan Company had the conditions for reorganization.
Bailiansheng Company applied that, as a 30.5% shareholder of Paomashan Company, it understood the debtor's basic situation, production capacity, market prospects and the value of the debtor's cement production qualification.
Paomashan Company still has certain brand value in the market of high-specification cement products in Ganzi Prefecture, with great market potential, sufficient production capacity and good restructuring value; the production equipment is basically in good condition, the supply of raw materials is sufficient, the process is advanced, and its resumption of production is supported by the local government; The production process is mature, the environmental protection facilities are sound, the energy consumption index is advanced, and the daily output can reach 2500 tons;
the surrounding infrastructure planning has a demand for cement production, and there is a large market sales volume of products, and the market sales prospects are good; After
resuming production, it will be a major local taxpayer, which can solve part of the employment problem and promote local economic development. Therefore, Paomashan Company has the conditions and advantages of reorganization.
Kangding People's Court found that as of the date of bankruptcy acceptance, the total book assets of Paomashan Company were 637,305,670.28 yuan, the total book liabilities were 758,262,049.25 yuan, and the total owner's equity was -120,956,378.97 yuan;
After audit and adjustment, the total assets are 391,809,053.96 yuan, the total liabilities are 850,336,535.51 yuan, and the total owner's equity is -458,527,481.55 yuan. The
assets of the debtor mainly include inventories, fixed assets (including houses, structures, machinery and equipment, vehicles), intangible assets, etc. The appraisal value of the above assets in the appraisal report is 307,199,282.26 yuan.
Kangding People's Court held that Paomashan Company has certain reorganization value and necessity. In accordance with the provisions of Article 2, Paragraph 2 of Article 70 and Article 71 of the Enterprise Bankruptcy Law of the People's Republic of China, it was decided to restructure Kangding Paomashan Cement Co., Ltd. from July 18, 2024. According to the
data, Yaobai Special Cement holds 55% of the shares and is the major shareholder of the company. The industrial and commercial information of Paomashan Company is as follows:
At the same time, a property rights trading platform shows that the starting price of Kangding Paomashan Cement Co., Ltd. for restructuring investor qualification is 216 million yuan.
