SLCT(SH:600691) Shang Hai Zheng Quan Bao·2026-02-09 18:31Core Viewpoint - Shanxi Lu'an Chemical Technology Co., Ltd. (the "Company") is undergoing a bankruptcy reorganization process for its former subsidiary, Yangmei Pingyuan Chemical Co., Ltd. (the "Pingyuan Chemical"), which was declared bankrupt by the court due to creditor applications [1][2][3]. Group 1: Bankruptcy and Reorganization Process - On January 8, 2025, Pingyuan Chemical received a notification from the Shandong Pingyuan County People's Court regarding its bankruptcy liquidation application [1]. - The court accepted the bankruptcy liquidation application on January 15, 2025, and appointed two law firms as the bankruptcy liquidation managers [2]. - The first creditors' meeting was held on March 18, 2025, where various management and distribution plans were approved [2]. - On December 17, 2025, the court ruled to initiate the reorganization of Pingyuan Chemical, effective from December 16, 2025 [2][3]. Group 2: Creditors' Meetings and Voting Outcomes - The second creditors' meeting took place on January 22, 2026, where the reorganization plan was discussed [3]. - The reorganization plan was approved by various creditor groups during the second creditors' meeting, which utilized both online and offline formats for voting [4]. Group 3: Impact of the Reorganization Plan - The reorganization plan includes a total employee debt repayment of CNY 232,681,074, with a repayment rate of 66.137%, amounting to CNY 153,889,312.99 to be paid in cash [6]. - The total ordinary debt held by the Company amounts to CNY 675,167,603.46, with specific repayment terms based on the amount owed [6]. - Due to Pingyuan Chemical's insolvency, all shareholders' equity will be adjusted to zero, resulting in the Company’s 51% stake being transferred to investors without compensation [7].