Zheng Quan Zhi Xing·2025-08-12 16:23Core Viewpoint - The company Huawen Media Investment Group Co., Ltd. announces that its subsidiary Cheyin Intelligent Technology Co., Ltd. is undergoing bankruptcy liquidation as per the ruling of the Shenzhen Intermediate People's Court, following an application by Boyan Technology Co., Ltd. due to Cheyin's inability to repay debts [1][6]. Summary by Sections 1. Bankruptcy Application Overview - Boyan Technology applied for bankruptcy liquidation of Cheyin Intelligent, citing the latter's inability to settle due debts and a clear lack of repayment capability. The Shenzhen Intermediate People's Court has accepted the application and appointed a management team to oversee the liquidation process [1][6]. 2. Financial Situation of Cheyin Intelligent - As of the latest financial report, Cheyin Intelligent has total assets of approximately 192.49 million and total liabilities of about 479.46 million. The equity attributable to the parent company is negative at -286.36 million, indicating significant financial distress [6]. 3. Impact on the Company - The bankruptcy of Cheyin Intelligent is not expected to have a significant impact on the overall business operations or restructuring plans of Huawen Media, as Cheyin's business activities have already ceased. Following the court's ruling, Huawen Media will lose control over Cheyin, which will no longer be included in the consolidated financial statements [6][7]. 4. Financial Obligations and Claims - The company has provided financial support to Cheyin Intelligent amounting to 84.6 million, along with guarantees for loans taken by Cheyin. The company plans to declare its claims in accordance with regulations to protect its interests [7].