LIAONING PORT(SH:601880) Shang Hai Zheng Quan Bao·2025-12-19 21:40Core Viewpoint - The court has accepted the bankruptcy liquidation application of Dalian Container Terminal Logistics Co., Ltd., a subsidiary of Liaoning Port Co., Ltd., due to its inability to repay debts and lack of solvency [2][4][6]. Group 1: Bankruptcy Liquidation Details - The Dalian Economic and Technological Development Zone People's Court issued a civil ruling on December 16, 2025, formally accepting the bankruptcy liquidation application of the subsidiary [2]. - The subsidiary, Dalian Container Terminal Logistics Co., Ltd., was established on July 11, 2001, with a registered capital of 155.387 million yuan [3]. - The company has been unable to repay due debts, leading to a resolution by its shareholders to apply for bankruptcy liquidation on September 30, 2025 [4]. Group 2: Financial Status of the Subsidiary - As of December 31, 2024, the subsidiary's assets were reported at 118.107 million yuan, liabilities at 153.604 million yuan, resulting in negative equity of -35.497 million yuan [5]. - The balance sheet as of September 30, 2025, showed assets of 108.206 million yuan and liabilities of 147.039 million yuan, with negative equity of -38.832 million yuan [5]. Group 3: Impact on the Parent Company - The bankruptcy will not affect the production and operation of the parent company, nor will it have a significant impact on current or future profits [2][7]. - The parent company has already made provisions for expected liabilities amounting to 180 million yuan as of December 31, 2021, and has fully recognized impairment for its investments in the subsidiary [7]. Group 4: Company Response Measures - The company has established a working group to engage with the court and the appointed bankruptcy administrator to monitor the liquidation process [8]. - The company will exercise its shareholder rights and require the bankruptcy administrator to provide timely updates on the liquidation progress and financial audit reports [8]. - The company will adjust its accounting treatment according to relevant accounting standards and will ensure compliance with disclosure obligations as per legal and regulatory requirements [8].