1月14日中午，中国宝能披露，宝能集困董事长、观致汽车实控人姚振华于1月13日向最高人民法院、江 苏省高级人民法院实名举报：常熟市委常委陈国栋，常熟经开区管委会和常熟市人民法院串通一气、联 手操纵侵吞观致汽车80亿元资产。 以下为姚振华举报全文： 常熟市委常委陈国栋，常熟经开区管委会和常熟法院的违法违规行为，将造成观致股东宝能集团260亿 元的巨额投资血本无归，严重损害股东合法权益，严重损害1500家供应商及几十家机构债权人合计139 亿元债权的合法权益，严重破坏成熟的法制环境、营商环境。 本人姚振华，现任宝能集团董事长，也是观致汽车实控人，观致汽车注册资本169亿元，宝能集团持股 63%，本人现郑重向最高人民法院江苏省高级人民法院实名举报，常熟市委常委陈国栋，常熟经开区管 委会和常熟市人民法院串通一气、联手操纵。 在观致汽车2.7亿元执行案件中，违法成立清算工作组，强制封控观致汽车工厂、设备，严重超额查封 执行，强制拍卖观致汽车、土地、厂房及常规机器设备、专用车型设备等核心资产。 经第三方机构评估，该资产价值80亿元，而常熟法院仅低评为15亿元，并在苏州中院2025年12月22日立 案受理观致汽车破产重整后 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源 | 中国宝能 1月14日，宝能集团董事长、观致汽车实控人姚振华通过中国宝能公众号发布实名举报视频，向最高人 民法院、江苏省高级人民法院举报，指观致汽车2.7亿元执行案件中存在违法操作，导致企业资产将被 低价拍卖。 来源 | 中国宝能 1月14日，宝能集团董事长、观致汽车实控人姚振华通过中国宝能公众号发布实名举报视频，向最高人 民法院、江苏省高级人民法院举报，指观致汽车2.7亿元执行案件中存在违法操作，导致企业资产将被 低价拍卖。 姚振华在举报中称，常熟相关部门在观致汽车2.7亿元执行案件中，违法成立清算工作组并超额查封核 心资产；第三方评估价值80亿元的土地、厂房及设备等资产，被低评为15亿元，起拍价仅8.6亿元，将 于2026年1月15日10时开拍，涉嫌低价侵吞资产后再进行破产清算。 姚振华强调，企业仍具备重整价值，仅需20亿元投入即可在10个月内复产。目前，已有占债权总额超 60%的33家债权人向苏州中院申请破产重整，并向常州法院提交执行异议申请。 姚振华表示，此次举报系团队多次沟通无果后发起，呼吁制止违法拍卖行为，依法保护股 ...

新闻提示 当企业遭遇困境，司法能做什么？在贵州，答案不仅是裁决，更是修复与激活。 近年来，贵州法院系统在商事审判领域持续探索：一方面，通过明确规则、稳定预期，为守法经营的企 业托底；另一方面，借助破产重整、执转破等机制，为仍具发展价值的市场主体留出回旋空间，打开困 境企业的重生之门，法治成为优化营商环境的重要支撑。 数据显示，2025年1月至11月，全省法院通过府院联动，成功重整企业20家。在"贵在执行"专项行动 中，灵活运用"活封活扣"措施，涉及企业5136家，最大限度减少司法活动对企业正常经营活动的影响。 转自：贵州日报 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：资产洞见 2025年的最后时刻，苏宁电器集团等38家公司实质合并重整草案获得通过，之后将面对法院的审批裁 定，并最终进入执行阶段。 这场"中国商业史上最复杂破产案"的重整草案表决，从2025年10月17日先后延期至11月14日、12月14 日、12月26日，直至12月29日确定通过，充分显现了债权结构的复杂与各方利益的博弈难度。 其中，张近东以个人身家入局换取苏宁未来发展机会，更成为中国企业破产史上罕见案例。 以下我们来简要梳理苏宁重整的关键问题。 苏宁重整后啥样？ 苏宁电器集团等38家公司重整以后啥样？ 归为两类。 1、新苏宁集团 运营管理平台。 运营管理持有苏宁置业集团、苏宁商业生活集团、苏宁股权管理公司100%股权。 2、南京众城公司 苏宁置业集团（地产运营主体），包括南京、无锡、徐州、镇江5个已建成苏宁广场；4个在建综合体； 9项REITs份额。 苏宁商业生活集团（轻资产运营主体），持有银河物管、苏宁商管100%股权，负责商业管理与物业管 理。 苏宁股权管理公司（股权管理平台），持有苏宁易购股票、上海星图金融服务集团有限公 ...

Core Viewpoint - The recent legal dispute involving Wintime Holdings highlights the ongoing financial and operational challenges faced by the company, particularly following its recent bankruptcy restructuring and the freezing of significant assets [1][3][5]. Group 1: Legal Dispute and Financial Impact - Wintime Holdings is being sued by Sobo (Beijing) International Film Investment Co., claiming 1.91 billion yuan in box office revenue and penalties related to the film "Mouse Courage Hero," of which Sobo asserts it holds 77% of the revenue rights [1][2]. - The company's bank accounts have been frozen, with the amount increasing from 1.04 billion yuan to 2.04 billion yuan, now representing 18.29% of its latest audited net assets [2][3]. - The lawsuit has been marked by multiple filings and withdrawals, reflecting a complex legal battle that has only recently been formally initiated [2][8]. Group 2: Financial Performance and Recovery Challenges - Wintime Holdings was under delisting risk due to five consecutive years of losses, but managed to turn its net assets positive to 1.11 billion yuan by the end of 2024, with a slight profit of 3.68 million yuan in the first three quarters of 2025 [3][9]. - Despite this, the company's revenue has declined by 16.88% year-on-year, and its net profit excluding non-recurring items remains a loss of 14.04 million yuan, indicating ongoing struggles in core profitability [3][9]. - The company is heavily reliant on its cinema and gaming segments, with efforts to reduce costs and increase efficiency in cinema operations, while gaming revenues have been affected by product lifecycle issues [3][9]. Group 3: Broader Legal and Governance Issues - Over the past year, Wintime Holdings has faced a total of 2.82 billion yuan in undisclosed lawsuits, which is 25.26% of its net assets, with over 90% of these cases involving the company as a defendant or third party [4][10]. - The high frequency of litigation suggests significant internal risk management and compliance issues within the company [4][10]. - The company plans to utilize legal strategies to address these challenges, but the lengthy litigation process may hinder its financial recovery [4][10].

以下文章来源于风财讯 ，作者W=T=T 风财讯 . 凤凰网旗下7X24H泛财经新闻平台，专注资本市场、新经济、新金融领域。通过深度原创、专家访谈、实地探访，还原事实本真。 | 全国企业破产重整案件信息网 National enterprise bankruptcy information disclosure platform | | | 我是信权人 | 4 我是投资人 ■ 我是管理人 补 设为首页 ★ 收藏 | | | --- | --- | --- | --- | --- | --- | | 债务人信息 | 公开案件 | 公开公告 | 裁判文书 | 新闻动态 典型案例 | 首页 | | 公开时间：2025-10-17 | | --- | | 浏览次数：1565次 | 此次 苏宁系重整涉及3105家债权人，以供应商和上下游企业为主 。重整的核心路径是"把相关权益和资产打包进一个重整信托计划，债权人变为 信托受益人，通过信托收益逐步拿回欠款"。 从债务规模来看，苏宁系无论从总债权规模还是确认债权规模，都高于金科股份(涉及债务1470亿元)、 杉杉集团(涉及债务335.5亿元)，在今年重 整案规模中数一数二。 ...

Group 1: Background and Trends - The number of bankruptcy cases in China has rapidly increased, surpassing 100,000 cases for the first time in 2024, indicating a growing trend in corporate restructuring needs[5] - Since the implementation of the Bankruptcy Law in June 2007, the number of listed companies applying for bankruptcy restructuring has shown fluctuations, peaking at 29 cases in 2024[7] - Regulatory policies have tightened, leading to a significant decrease in the number of approved restructuring plans in 2024, despite an increase in applications[9] Group 2: Role of Local AMCs - Local Asset Management Companies (AMCs) have increasingly participated in corporate bankruptcy restructuring, leveraging regional resources to coordinate judicial, industrial, and financial institutions[4] - Local AMCs primarily act as financial investors in restructuring, with most investments being below 300 million yuan[18] - The participation of local AMCs in bankruptcy restructuring has become a significant business direction, with a notable increase in activity since 2019, particularly in 2023[18] Group 3: Investment Models and Risks - The main investment model used by local AMCs in bankruptcy restructuring is the capital reserve transfer model, which is the most frequently applied method[33] - Local AMCs face substantial risks in bankruptcy restructuring, necessitating enhanced professional capabilities and risk management[4] - The average investment amount in restructuring cases is generally below 300 million yuan due to the high difficulty and risk of failure associated with these projects[24] Group 4: Outcomes and Performance - Among the local AMCs' restructuring cases, only a few companies have successfully returned to profitability post-restructuring, with many still facing financial challenges[43] - As of October 2025, several companies involved in restructuring have either delisted or have not yet regained their stock status, indicating ongoing risks in the restructuring process[27]

Group 1 - Neta Automobile's parent company, Hozon New Energy, is undergoing a restructuring process, with a management trustee being appointed [1] - The Jiaxing Intermediate People's Court accepted the restructuring case on June 12, 2025, and transferred it to the Tongxiang People's Court for further proceedings [1] - A public recruitment announcement for a management trustee was issued on December 2, 2025, to ensure the sustainable development of the new energy vehicle business and protect creditor interests [1] Group 2 - Two interested institutions submitted applications by the deadline of December 12, 2025, for the management trustee position [1] - An evaluation committee was formed to assess the applicants based on professional qualifications, feasibility of management plans, and financial arrangements [1] - One institution was selected as the management trustee following the evaluation meeting held on December 15, 2025, and a management entrustment agreement will be signed to facilitate the restructuring process [1]

Core Viewpoint - The auction of a vehicle owned by Hangzhou Zhang Xiaoqing Group Co., Ltd. is set to take place on December 23-24, 2025, with a starting price reduced to 384,000 yuan after two previous failed attempts [1][4]. Group 1: Auction Details - The asset being auctioned is a Mercedes-Benz car, with an estimated value of 600,000 yuan and a starting bid of 384,000 yuan [4]. - A deposit of 76,000 yuan is required to participate in the auction, with a minimum bidding increment of 3,800 yuan and a bidding period of one day [4]. - The vehicle was first registered on May 6, 2015, has a mileage of 236,609 km, and is currently in a sealed state [4]. Group 2: Company Background - Hangzhou Zhang Xiaoqing Group Co., Ltd. was established in January 2001, with a registered capital of approximately 16.817 million yuan [6]. - The company is known for its brand "Zhang Xiaoqing," which specializes in the production of various knives and scissors, and has a history of 345 years [6][9]. - The company is indirectly controlled by Zhang Guobiao and employs around 1,250 people [6]. Group 3: Financial Performance - In 2024, the company reported that its main business revenue was composed of 72.03% from cutting tools, 18.78% from kitchen hardware, and 8.50% from home hardware [9]. - Despite revenue growth in 2024, the net profit attributable to shareholders has been declining for three consecutive years since 2022 [9]. - For the first three quarters of 2025, the company achieved a revenue of 726 million yuan, a year-on-year increase of 14.11%, and a net profit of 37.976 million yuan, up 120.78% year-on-year [9].

Core Viewpoint - The company, Shanxi Lu'an Chemical Technology Co., Ltd., is facing a bankruptcy reorganization process for its former subsidiary, Yangmei Pingyuan Chemical Co., Ltd., following a court ruling that accepted a bankruptcy liquidation application from a creditor [1][2][4]. Group 1: Bankruptcy Proceedings - On January 8, 2025, Yangmei Pingyuan Chemical received a notification from the Shandong Pingyuan County People's Court regarding a bankruptcy liquidation application [1]. - The court accepted the bankruptcy liquidation application on January 15, 2025, and appointed two law firms as the bankruptcy administrators [2]. - A creditors' meeting was held on March 18, 2025, where various management and distribution plans were approved [2]. Group 2: Reorganization Details - On December 16, 2025, the court ruled to initiate a reorganization process for Yangmei Pingyuan Chemical, citing its asset value and market potential [4]. - The company has completed necessary procedures for hazardous chemical production license cancellation and soil pollution assessment [6]. - The total asset value of Yangmei Pingyuan Chemical is assessed at 835.226 million yuan, while the total debt amounts to 1.519 billion yuan [7][8]. Group 3: Investor Recruitment - The bankruptcy administrator has publicly invited investors to participate in the reorganization process, emphasizing the need for responsible and financially capable entities [3][6]. - Interested investors must meet specific criteria, including having no significant outstanding debts and a good business reputation [9][10]. - A registration fee of 3 million yuan is required from potential investors, which will be converted into reorganization funds upon selection [18].