YA BANG(SH:603188) Zhong Guo Jing Ying Bao·2025-12-05 08:09Group 1 - The core point of the news is that Yabang Co., Ltd. (603188.SH) announced that its 15% stake in Jiangsu Renxin Environmental Technology Co., Ltd. is undergoing bankruptcy liquidation as per the court's decision [2][3] - The bankruptcy application was filed by a creditor, Chuangnan Chengzhi Chemical Equipment Sales Co., Ltd., due to Renxin Environmental's inability to repay its debts, which meets the criteria for bankruptcy liquidation under the Enterprise Bankruptcy Law [3] - Yabang Co., Ltd. has provided guarantees for Renxin Environmental's financing lease business and has compensated a total of 86.76 million yuan for overdue payments [2][4] Group 2 - Renxin Environmental was established in January 2015 with a registered capital of 100 million yuan, focusing on environmental technology research and the processing of waste acids [3] - The bankruptcy management will be handled by Jiangsu Gushenmin Law Firm, with the first creditors' meeting scheduled for January 16, 2026 [3] - Yabang Co., Ltd. has initiated a recovery lawsuit against Renxin Environmental to reclaim the compensated amount, but the outcome remains uncertain as the case is still under court review [4] Group 3 - Yabang Co., Ltd. has faced significant financial challenges since 2018, primarily due to production halts in its main production area caused by safety and environmental issues, leading to declining sales and increased operational pressure [6][7] - The company reported a cumulative loss of 276.4 million yuan over six years from 2019 to 2024, with annual revenues showing a downward trend during this period [7] - However, there has been a slight recovery in 2025, with a reported revenue of 572 million yuan in the third quarter, marking a year-on-year increase of 3.87% and a return to profitability with a net profit of 20.63 million yuan [8]