JTL(SZ:300091) Shen Zhen Shang Bao·2025-10-22 23:14Core Viewpoint - The company Jin Tong Ling is facing severe financial distress, leading to a bankruptcy liquidation application by its subsidiary, Jiangsu Jin Tong Ling Precision Manufacturing Co., Ltd, due to unpaid debts and significant losses over recent years [1][4][5]. Financial Situation - As of April 30, 2025, Jin Tong Ling Precision Manufacturing reported total assets of 67 million and total liabilities of 196 million, indicating insolvency [4]. - The company has incurred total losses exceeding 2.2 billion from 2020 to 2024, with a debt ratio of 92.04% as of mid-2025 [5]. - For the first half of 2025, the company reported revenue of 370 million, a year-on-year decline of 48.70%, and a net loss of 202 million, a decline of 167.72% [5]. Legal and Regulatory Issues - The company has been penalized for securities fraud, resulting in a fine of 8 million, and several executives have received prison sentences for related offenses [6]. - The bankruptcy application was accepted by the Nanjing Intermediate People's Court, confirming the company's inability to meet its financial obligations [4]. Recent Developments - On September 5, 2025, the company announced a pre-restructuring investment agreement with HuTongDa Network Co., Ltd, aimed at resolving its debt crisis and improving its financial structure [5].