A concrete enterprise in Guangxi officially declared bankruptcy after state-owned enterprises participated in it.

Recently, according to the People's Court of Dongxing City, Guangxi Zhuang Autonomous Region, Dongxing Chengtou Commodity Concrete Co., Ltd. was unable to pay off its debts due and its assets were insufficient to pay off all its debts, and there was no bankruptcy reorganization or reconciliation, and the company was formally declared bankrupt. According to the

data, the company is a mixed ownership company controlled by private enterprises and participated by state-owned enterprises, of which Dongxing City Construction Investment Co., Ltd. holds 20% of the shares. Announcement

of the People's Court

of Dongxing City,

Guangxi Zhuang Autonomous Region (2025) No.3 of Gui 0681,

the Court decided on May 22, 2025 to accept the bankruptcy liquidation case of Dongxing Chengtou Commodity Concrete Co., Ltd. On November 11, 2025, Guangxi Nangang Law Firm was appointed as the administrator of Dongxing Chengtou Commodity Concrete Co., Ltd. The Court found that Dongxing Chengtou Commodity Concrete Co., Ltd. was established on June 9, 2020, the registration authority is Dongxing Market Supervision and Administration Bureau, the enterprise type is limited liability company (natural person investment or holding), the registered capital is 10 million yuan, and the current legal representative is Mo Xiaoming. In addition, after being examined by the administrator and confirmed by the vote of the creditors'meeting, the Court issued a civil ruling No.3 of Gui 0681 on September 1, 2026, confirming the creditor's rights of 33 creditors such as Fangchenggang Jingyou Trading Co., Ltd. Among them, the 25336974.44 of ordinary creditor's rights is RMB, the 14039 of tax creditor's rights is RMB 1.43, and the 74121 of social insurance creditor's rights is RMB.48; in addition, the total amount of creditor's rights of 31 employees including Zou Youling is confirmed as RMB.25 812403. The total amount of the above claims is 26363890.6 yuan. As of September 10, 2026, the administrator's account has received a total amount of 1698060.68 yuan; the value of fixed assets such as desks and air conditioners under the name of Chengdu Investment Concrete Company is 464315 yuan, which is recognized by Dongxing Price Certification Center, and now the third auction is planned to be held with 376095 yuan as the starting price; At the same time, the administrator has filed a lawsuit for disputes over sales contracts to recover the concrete receivables that have not yet been recovered by Chengdu Investment Concrete Company. The Court holds that, considering the existing property and liabilities of Chengdu Investment Concrete Company, it can be concluded that Chengdu Investment Concrete Company is unable to pay off its debts due and its assets are insufficient to pay off all its debts, and there is no bankruptcy reorganization or reconciliation. The administrator's application for declaring Chengdu Investment Concrete Company bankrupt conforms to the law. The pending litigation of part of the receivable creditor's rights of Chengdu Investment Concrete Company does not affect the judgment of its solvency, and the relevant creditor's rights can be distributed separately after the recovery of the litigation. In accordance with the provisions of Article 107, paragraph 1, of the Enterprise Bankruptcy Law of the People's Republic of China, the Court declared the bankruptcy of Dongxing Chengtou Commodity Concrete Co., Ltd. on September 15, 2026.

Hereby announce!

Dongxing People's Court

September 17