LONCIN(SH:603766) Jing Ji Guan Cha Wang·2025-05-23 01:09Core Viewpoint - The founder of Longxin Group, Tu Jianhua, is contesting the bankruptcy restructuring of Longxin Group and thirteen affiliated companies, claiming that his interests have been harmed during the process [2][4]. Group 1: Background Information - Tu Jianhua, born in April 1963, was once a billionaire and the actual controller of Longxin Group, which controlled four listed companies at its peak [3]. - Longxin Group and its thirteen companies were accepted for bankruptcy restructuring by the Chongqing Fifth Intermediate People's Court on January 30, 2022, due to debt defaults [4][5]. Group 2: Restructuring Process - The restructuring plan for the thirteen companies was approved by the Chongqing Fifth Intermediate People's Court on November 21, 2022, after a creditors' meeting [7]. - The total asset valuation of the thirteen companies was assessed at 10.825 billion yuan, with a total debt of 36.76 billion yuan, indicating insolvency [8][9]. Group 3: Legal Actions - Tu Jianhua has filed a lawsuit against the restructuring managers, seeking compensation for losses incurred due to changes in the restructuring plan that he claims were made without proper approval [13]. - The lawsuit has been accepted by the Beijing Chaoyang District Court, indicating the legal process is underway [16]. Group 4: Changes in Control - Following the restructuring, the control of Longxin General has shifted to Zongshen Group, with the formal transfer of control occurring on December 27, 2024 [14][15].