NSWRC(SH:600165) Zhong Zheng Wang·2025-10-17 13:20Core Points - Company ST Ningke (600165) has announced a total debt of 2.268 billion, with overdue debts amounting to 1.81 billion and litigated debts totaling 1.38 billion [1] - The company is facing severe liquidity issues, lacking sufficient funds and current assets to meet its debt obligations, which raises concerns about its ability to continue operations [2] - The company has been placed under a restructuring process by the Shizuishan Intermediate People's Court, which has appointed a temporary administrator [3] Debt Situation - Total debt stands at 2.268 billion, with overdue debts of 1.81 billion and litigated debts of 1.38 billion [1] - The company has a total of 245.427 million involved in litigation due to collective lawsuits from investors regarding false securities statements, with total litigation costs reaching 332.713 million, accounting for 46.34% of the latest audited net assets [2] Restructuring and Legal Proceedings - The restructuring application has been accepted by the court, and the debt claim period has been extended to October 31, 2025, to accommodate the actual progress of creditor claims [2] - The company’s stock has been placed under delisting risk warning, changing its name to "*ST Ningke" and remaining on the risk warning board with a daily price fluctuation limit of 5% [3] - The court has recognized the company’s inability to repay debts and its potential for restructuring, but there is a risk of bankruptcy if the restructuring fails [3]