ZHENGBANG TECHNOLOGY(SZ:002157) Mei Ri Jing Ji Xin Wen·2025-10-15 07:17Core Viewpoint - Jiangxi Zhengbang Technology (002157.SZ) announced that its subsidiary, Liaoning Chaoyang Zhengbang Ecological Agriculture Co., Ltd., has received court approval for its restructuring plan, officially entering the execution phase of the plan, which aims to resolve its debt crisis [1][2] Group 1: Restructuring Plan - The restructuring plan for Chaoyang Zhengbang was approved by the Chaoyang Intermediate People's Court, which found the plan's content complete and the voting procedures legal, in accordance with the relevant provisions of the Bankruptcy Law of the People's Republic of China [2][3] - The restructuring process for Chaoyang Zhengbang began in July 2025, initiated by a pre-restructuring application from a creditor, indicating that the company was unable to repay its debts but had high restructuring value [3] - The first creditors' meeting on October 10, 2025, successfully passed the draft restructuring plan and related documents, indicating a positive outlook for the execution of the plan [3] Group 2: Financial Impact and Legal Issues - Chaoyang Zhengbang's net assets decreased from -128 million yuan at the end of 2024 to -151 million yuan by mid-2025, with revenue of only 40 yuan and a net loss of approximately 23.25 million yuan in the first half of 2025 [1] - On the same day the restructuring plan was approved, Zhengbang Technology disclosed that it had accumulated new litigation and arbitration cases amounting to approximately 844 million yuan, adding uncertainty to its operations for 2025 [4] - Among the new lawsuits, the company acted as both plaintiff and defendant, with the amounts being relatively balanced; approximately 446 million yuan (52.84%) involved the company as a plaintiff, while about 398 million yuan (47.16%) involved it as a defendant [4]