3.9亿债务违约！董事长总经理集体走人！知名针织企业跨界投资大败局

Core Viewpoint - The company, Bangjie Co., has decided to terminate its solar photovoltaic projects due to increased investment risks and uncertainties stemming from changes in the market environment, leading to significant financial losses [1][3]. Company Summary - Bangjie Co. announced the termination of its 10GW high-efficiency photovoltaic module and R&D center project, citing commercial risks and potential economic losses as the reasons for this decision [1]. - The company's stock price has dropped over 60% since the announcement of the photovoltaic project in December 2022, reflecting investor concerns [1]. - In addition to the terminated project, Bangjie Co. also ended another photovoltaic project in Jiangshan, incurring a compensation payment of 15 million yuan due to contract termination [3]. - The company is facing a debt crisis, with 390 million yuan in loan defaults and a total overdue debt of 986 million yuan, which is 329% of its net assets [3][5]. - The company expects a net loss of 120 to 180 million yuan for the first half of 2025, primarily due to high fixed costs associated with its photovoltaic segment [5]. Management Changes - The company has undergone significant management changes, including the replacement of its controlling shareholder and actual controller, with the new management team having backgrounds in finance and investment [7][10]. - A temporary shareholders' meeting was held to elect new board members and appoint a new chairman and general manager, indicating a shift in strategic direction [8][9]. Industry Context - The photovoltaic industry is experiencing severe overcapacity, with China's production capacity exceeding global demand by twofold, leading to price declines across the sector [11]. - Many companies, including leading firms in the photovoltaic sector, have reported substantial losses, highlighting the intense competition and challenges within the industry [11]. - The trend of cross-industry expansion, particularly from textiles to photovoltaics, has raised concerns about the sustainability of such strategies in the current investment climate [14].