棒杰股份：子公司扬州棒杰被申请破产重整

Core Viewpoint - The company Yangzhou Bangjie New Energy Technology Co., Ltd., a subsidiary of Bangjie Co., is facing a pre-restructuring application from its creditor, Industrial Bank Co., Ltd. Suzhou Branch, due to its inability to repay debts and lack of repayment capacity, despite having restructuring value [2] Financial Summary - Total assets of Yangzhou Bangjie amount to 2.158 billion yuan, while total liabilities are 2.652 billion yuan, resulting in a net asset value of -494 million yuan [2] - For the first half of 2025, the company reported zero operating revenue and a net loss of 124 million yuan [2] - The company's financial liability exposure stands at approximately 630 million yuan, with all liabilities guaranteed jointly [2] Investment Support - The company has directly and indirectly invested 505 million yuan in Yangzhou Bangjie and provided financial support of about 650 million yuan [2] Potential Risks - If Yangzhou Bangjie enters restructuring, the company may face risks related to guarantee obligations, unrecoverable long-term equity investments, and uncollectible other receivables [2]