又一信托公司进入破产程序，破产重整与破产清算区别大

Core Viewpoint - Huaxin Trust is likely to become the third trust company to be declared bankrupt since the promulgation of the Trust Law and the Enterprise Bankruptcy Law, as it has entered the bankruptcy reorganization process approved by the Dalian Financial Supervision Administration [1][2]. Group 1: Bankruptcy Process - On November 28, the Dalian Financial Supervision Administration approved Huaxin Trust's bankruptcy application, allowing it to enter the bankruptcy process [1]. - The approval was based on Huaxin Trust's earlier bankruptcy reorganization application submitted to the authorities, with the approval date being October 23 [1]. - The court formally accepted the bankruptcy reorganization application on the same day as the approval [1]. Group 2: Company Background - Huaxin Trust was established in 1981 with a registered capital of 6.6 billion yuan, making it the only trust company in Liaoning Province [3]. - As of the end of 2019, Huaxin Trust had total assets of 12.376 billion yuan, with trust assets under management amounting to 61.58 billion yuan, primarily in real estate and financial institutions [4]. - The company was classified as one of the six high-risk trust companies by the former China Banking and Insurance Regulatory Commission in late 2019 [3]. Group 3: Financial Performance - In 2019, Huaxin Trust reported an operating income of 573 million yuan, a 50% decrease year-on-year, and a net loss of 152 million yuan, compared to a profit of over 800 million yuan the previous year [4]. - The company has faced significant operational challenges, including the suspension of its "fund pool" business in April 2020 and multiple announcements of delayed payments on collective trust products starting in September 2020 [3].