负债32亿元，志高空调母公司正式启动破产清算程序！业内人士：对品牌发展利好，有助于清理掉“历史包袱”

Core Viewpoint - Guangdong Zhigao Air Conditioning Co., Ltd. has officially initiated bankruptcy liquidation, marking a significant turning point for the company and potentially allowing it to shed historical burdens [1][4][10]. Group 1: Bankruptcy Details - The bankruptcy liquidation was accepted by the Foshan Nanhai Court on February 12, 2026, following an application by Shanghai Lishan Enterprise Management Co., Ltd. [2][7]. - Guangdong Zhigao was established in June 1997 with a registered capital of 996.14 million yuan and has 11 active investments [2][7]. - The company's major assets include 82,300 square meters of real estate, 690 trademarks, and 271 patents, while its liabilities are approximately 3 billion yuan in unresolved claims and self-reported debts of about 3.2 billion yuan [2][7]. Group 2: Historical Context and Performance - Zhigao was once a leading brand in the air conditioning industry, ranking fourth in 2008 and even third in 2010, but faced significant losses of 480 million yuan in 2018 and 1.4 billion yuan in 2019, leading to its delisting [3][8]. - Since the delisting in 2019, Zhigao has undergone extensive adjustments in manufacturing, technology, products, and branding, resulting in a compound annual growth rate of over 80% since 2022 [5][9]. - In 2025, Zhigao's production capacity exceeded 10 million units, with sales increasing by over 30% year-on-year, supported by a more than 50% growth in overseas markets during the first three quarters [5][9]. Group 3: Future Implications - The bankruptcy liquidation is viewed positively as it may facilitate the clearing of historical burdens and ensure orderly debt repayment, while also providing legal protection for the independent operation of the new company [4][9]. - The first creditors' meeting is scheduled for May 28, 2026, allowing creditors to participate in the proceedings [2][7].