Core Viewpoint - The company, Yuanda China Holdings Limited, has decided to apply for bankruptcy reorganization due to severe debt and operational crises exacerbated by macroeconomic factors, real estate regulations, and the pandemic [2]. Group 1: Company Situation - The company has been facing significant debt and operational challenges, with various self-rescue measures proving ineffective [2]. - The company is unable to repay its due debts and lacks the ability to meet its financial obligations, qualifying for reorganization under Chinese bankruptcy laws [2]. - The company possesses strong technical reserves, a high industry position, and significant brand influence in the prefabricated construction sector, indicating potential value in reorganization [2]. Group 2: Reorganization Process - The company plans to apply for bankruptcy reorganization with the Changsha Intermediate People's Court, following the relevant provisions of the Company Law and Bankruptcy Law of the People's Republic of China [2]. - The company will convene a shareholders' meeting to review the proposal for self-initiated bankruptcy reorganization [2]. - There is significant uncertainty regarding whether the court will accept the reorganization application and whether the company will enter the reorganization process [3].
远大住工(02163.HK)：拟自行向长沙市中级人民法院申请破产重整