SLCT(SH:600691) Shang Hai Zheng Quan Bao·2026-02-05 17:58Core Viewpoint - Shanxi Lu'an Chemical Technology Co., Ltd. is undergoing a bankruptcy reorganization process for its former subsidiary, Yangmei Pingyuan Chemical Co., Ltd., which has been approved by the creditors' meeting [1][3][9]. Group 1: Bankruptcy Proceedings - On January 8, 2025, Yangmei Pingyuan Chemical received a notice from the Shandong Pingyuan County People's Court regarding a bankruptcy liquidation application filed by Pingyuan County Financial Development Group [1]. - The court accepted the bankruptcy liquidation application on January 15, 2025, and appointed two law firms as the bankruptcy liquidation managers on February 16, 2025 [2]. - The first creditors' meeting was held on March 18, 2025, where various management plans were approved [2]. Group 2: Creditors' Meeting Outcomes - The second creditors' meeting took place on January 22, 2026, with 307 creditors representing a total debt of approximately 1.497 billion yuan [3][4]. - The meeting approved the reorganization plan draft, with significant support from all creditor groups, including construction, employee, tax, ordinary creditors, and investors [5][6][7][8][9]. - The ordinary creditors group, consisting of 307 creditors with a total debt of approximately 1.027 billion yuan, showed a 95.22% approval rate for the reorganization plan [8]. Group 3: Legal Framework - The reorganization plan draft was passed according to Article 84 of the Enterprise Bankruptcy Law of the People's Republic of China, which allows creditors to challenge the decision within 15 days if they believe it violates legal provisions [9].