On August 27, the civil ruling of the People's Court of Pingnan County, Guangxi, showed that on November 18, 2024, the bankruptcy liquidation application of Pingnan Runtai Asset Management Co., Ltd. for the Second Cement Plant of Pingnan County was accepted. As of December 31, 2021, the total assets of Pingnan No.2 Cement Plant were about 0.37 billion yuan, while its total debt exceeded 530 million yuan (including the debt of Runtai Company).
