Core Viewpoint - The announcement indicates that the bankruptcy liquidation application of Guangzhou Xinde New Energy Vehicle Components Co., Ltd., a subsidiary of Xinbang Intelligent, has been accepted by the Guangzhou Intermediate People's Court, highlighting the financial difficulties faced by the subsidiary and the company's strategic response to improve asset liquidity and resource allocation [2][2][2] Summary by Relevant Sections - Bankruptcy Application - Guangzhou Xinde's bankruptcy liquidation application was accepted by the court due to insufficient assets to cover all debts, following the procedures outlined in the Company Law and Bankruptcy Law of the People's Republic of China [2][2][2] - Court Proceedings - The court issued a civil ruling (2025) Yue 01 Po Shen 621, formally accepting the bankruptcy liquidation application, and as of the announcement, a bankruptcy administrator has not yet been appointed [2][2][2] - Impact on Parent Company - Xinbang Intelligent states that the bankruptcy liquidation will enhance asset liquidity and optimize resource allocation, ultimately improving overall operational efficiency. After the appointment of a bankruptcy administrator, the company will lose control over Guangzhou Xinde, which will no longer be included in the consolidated financial statements [2][2][2] - Business Continuity - The company asserts that this bankruptcy liquidation will not have a significant adverse impact on its overall business development or profitability, and there is no harm to the interests of the company and its shareholders [2][2][2]
因资不抵债，信邦智能子公司破产清算申请获受理