Reorganization failed! Another cement company goes bankrupt!

Recently, the Intermediate People's Court of Hegang City, Heilongjiang Province, issued a civil ruling showing that during the reorganization period, Hegang Donghua Cement Co., Ltd. did not recruit interested investors, lacked the possibility of reorganization, and requested the court to declare bankruptcy. On November 30,

2023, the Intermediate People's Court of Hegang City, Heilongjiang Province issued the Fifth Civil Ruling (2023) Hei 04 Po No.3, which approved the Reorganization Plan (Draft) of Hegang Donghua Cement Co., Ltd. The main contents of the draft reorganization plan are as follows: "Based on the Evaluation Report, the administrator intends to select investors by bidding on the auction platform approved by the Supreme People's Court as a whole with 100% equity of Donghua Cement Company and all assets covered under it. The consideration paid by the investors shall be used as investment funds. After the investors pay the investment funds, It holds all the shares of Donghua Cement Company and all the assets covered under it. According to the content of the draft reorganization plan, the administrator made a public listing on the platform for the disposal of bankruptcy assets, with a starting price of 18.5014 million yuan. After 24 times of listing, the auction has failed, and the last 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. The Intermediate People's Court of Hegang City,

Heilongjiang Province, held that according to the current online price, the investment price can no longer cover the creditor's rights of employees and taxes, and the continued implementation of the reorganization plan is no longer in conformity 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, the ruling is as follows:

declare Hegang Donghua Cement Co., Ltd. bankrupt.

According to reports, 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 plant has a crushing workshop, a raw material workshop, a clinker processing workshop (abandoned), a cement production workshop (two automatic cement loaders, a 3.2 × 13m high fine cement mill production line), a cement storage warehouse, a power transformation and distribution room, a raw material warehouse, etc., with a designed annual production capacity of 400,000 tons.

Donghua Cement Company has entered the liquidation procedure due to debt and serious lack of liquidity, but Donghua Cement Company has relatively mature cement production and processing technology, the company's business license is valid until January 11, 2025, the emission permit is valid until November 14, 2025, and the registered trademark is still valid. The plant and production equipment are basically complete, with basic processing capacity.