Another cement company declared bankruptcy!

Recently, the Intermediate People's Court of Hegang City, Heilongjiang Province, issued a civil ruling. On June 17,

2025, the administrator of Hegang Donghua Cement Co., Ltd. submitted an application to the Court, claiming that during the reorganization period, Hegang Donghua Cement Co., Ltd. did not recruit interested investors and lacked the possibility of reorganization.

The Court found out that, according to the content of the draft reorganization plan, the administrator made a public online listing on the platform for the disposal of bankruptcy assets, with a starting price of 18.5014 million yuan. After 24 times of online listing, the auction has failed, and the last failed auction price is 5.3 million yuan. As of June 17, 2025, the total amount of employees' creditor's rights that have been publicized is 8,687,658.73 yuan, and the Court has confirmed one tax creditor's right without objection, with the amount of 210,425.30 yuan.

According to the current online price, the investment price can no longer cover the claims of employees and taxes, and the continued implementation of the reorganization plan is no longer in line with the provisions of the bankruptcy law on the reorganization procedure. The social insurance fees and taxes borne by enterprises can not be solved, and Hegang Donghua Cement Co., Ltd. has no possibility of rescue.

In accordance with Article 78 of the Enterprise Bankruptcy Law of the People's Republic of China, Hegang Donghua Cement Co., Ltd. was declared bankrupt.

According to the previous release, the cement plant of Hegang Donghua Cement Co., Ltd. covers an area of about 53000 square meters and a building area of 12000 square meters. The factory has crushing workshop, raw material workshop, clinker processing workshop (abandoned), cement production workshop (two automatic cement loaders, one production line of 3.2 * 13 meters high fine cement mill), cement storage, power transformation and distribution room, raw material warehouse, etc. The designed annual production capacity is 400,000 tons.