ZHENGBANG TECHNOLOGY(SZ:002157) Shang Hai Zheng Quan Bao·2025-10-13 20:15Core Viewpoint - Jiangxi Zhengbang Technology Co., Ltd. is undergoing a restructuring process for its subsidiary, Liaoning Chaoyang Zhengbang Ecological Agriculture Co., Ltd., due to its inability to repay debts and lack of solvency, but it is believed to have high restructuring value [1][2]. Group 1: Restructuring Process - On July 25, 2025, the court accepted a pre-restructuring application for Chaoyang Zhengbang, initiated by creditor Zhang Xiuchun, citing the company's inability to repay debts and potential for operational recovery [1]. - On September 4, 2025, the court officially accepted the restructuring application and appointed Beijing Qinglv (Shanghai) Law Firm as the restructuring manager [2]. - A notice for creditors to declare their claims was issued on September 5, 2025, with the first creditors' meeting scheduled for October 10, 2025 [3]. Group 2: Creditors' Meeting Outcomes - The first creditors' meeting on October 10, 2025, had 30 participating creditors, representing 96.77% of the total creditor count [4]. - The restructuring plan draft was approved by all creditor groups: - Priority creditor group: 66.67% of participating creditors approved, representing 76.98% of the total debt amount [4][5]. - Employee creditor group: 100% approval from the single participating creditor [5]. - Ordinary creditor group: 83.33% approval from participating creditors, representing 99.08% of the total debt amount [5][6]. - Investor group: 100% approval from the single participating investor [6]. - The property management plan and the proposal for non-site meetings were also approved by the creditors, with significant majorities in favor [8][9].