On June 26, the Guangzhou Intermediate People's Court of Guangdong Province issued a notice declaring the bankruptcy of Guangdong Weijin Construction Group Co., Ltd. According to
the data, on June 19, 2024, the Guangzhou Intermediate People's Court of Guangdong Province decided to accept the application of Zhao Jianhua and Guangdong South China Concrete Co., Ltd. for bankruptcy liquidation of Guangdong Weijin Construction Group Co., Ltd.
It is ascertained that the total amount of creditor's rights confirmed by the Guangzhou Intermediate People's Court of Guangdong Province is 220,096,069.35 yuan; According to the administrator's investigation, the assets of Weijin Company are less than debts owed. According to the Special Audit Report of Guangdong Weijin Construction Group Co., Ltd. (Grant Thornton Zhuan Zi (2026) No.440C016556) issued by Guangzhou Branch of Grant Thornton Certified Public Accountants (Special General Partnership), After auditing, the total assets of Weijin Company as of June 19, 2024 are 206876725.75 yuan, the total liabilities are 331969434 of.87 yuan, the total owner's equity is-125092709 of.12 yuan, and Weijin Company is insolvent. The Intermediate People's Court of Guangzhou City,
Guangdong Province, held that Weijin Company could not pay off its debts due and that its assets were insufficient to pay off all its debts. In accordance with the provisions of Article 107 of the Enterprise Bankruptcy Law of the People's Republic of China, the Court declared the bankruptcy of Guangdong Weijin Construction Group Co., Ltd. on June 26, 2026.
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