中化国际（600500）披露控股子公司申请破产重整，10月13日股价下跌2.07%

Core Viewpoint - Zhonghua International (600500) has announced the bankruptcy reorganization of its subsidiary, Ningxia Zhonghua Lithium Battery Materials Co., Ltd., due to continuous losses and inability to repay debts [1]. Financial Performance - As of October 13, 2025, Zhonghua International's stock closed at 4.26 yuan, down 2.07% from the previous trading day, with a total market capitalization of 15.287 billion yuan [1]. - The stock opened at 4.23 yuan, reached a high of 4.28 yuan, and a low of 4.19 yuan, with a trading volume of 1.16 billion yuan and a turnover rate of 0.76% [1]. - As of June 30, 2025, Ningxia Lithium had total assets of 243.94 million yuan and total liabilities of 288.33 million yuan, resulting in a net loss of 21.58 million yuan for the first half of 2025 [1]. Bankruptcy Reorganization - The board of directors approved the proposal for Ningxia Lithium to apply for bankruptcy reorganization due to external market conditions leading to sustained losses and insolvency [1]. - The company has fully provided for impairment on its long-term equity investment of 47 million yuan in Ningxia Lithium, with net receivables amounting to 22.10 million yuan [1]. - Zhonghua International had guaranteed a loan of 22.64 million yuan for Ningxia Lithium, with no other guarantees involved [1]. - Following the bankruptcy reorganization, Ningxia Lithium will no longer be included in the consolidated financial statements, and the specific impact will depend on the court's acceptance and the reorganization plan [1].