Core Viewpoint - Xinjiang Sairim Modern Agriculture Co., Ltd. has initiated bankruptcy liquidation for its wholly-owned subsidiary, Xinjiang Xinshai Trading Co., Ltd., due to long-term losses and inability to pay debts [2][3]. Group 1: Bankruptcy Liquidation Overview - Xinjiang Xinshai Trading has been in a state of continuous losses, leading to the decision for bankruptcy liquidation initiated in 2022 [2]. - The board of directors approved the bankruptcy application on June 23, 2022, and the court accepted the application on September 7, 2023 [3]. Group 2: Progress of Bankruptcy Liquidation - The court has appointed Guohao Law Firm (Urumqi) as the bankruptcy administrator, with lawyer Zhou Xiaodong as the head of the administration [3][4]. - The administrator is responsible for managing the debtor's assets, investigating financial status, and making decisions regarding daily operations and expenditures [4]. Group 3: Impact on the Company - The bankruptcy of Xinjiang Xinshai Trading is not expected to significantly impact the overall operations of Xinjiang Sairim Modern Agriculture Co., Ltd. [4]. - Following the appointment of the bankruptcy administrator, Xinjiang Xinshai Trading will no longer be included in the consolidated financial statements of the company [4].
新赛股份: 新疆赛里木现代农业股份有限公司关于全资子公司新疆新赛贸易有限公司破产清算的进展公告