Core Viewpoint - Huazhang Technology (01673) has engaged in a strategic acquisition of creditor rights through a public bidding process, involving a total debt of approximately 74.79 million RMB from two companies undergoing bankruptcy restructuring [1][2] Group 1: Acquisition Details - The acquisition involves a debt transfer contract with a total consideration of 20 million RMB, which includes 25.66 million RMB in unpaid principal and accrued interest from Baoshan Xinsengtai Paper Industry, and 10 million RMB from Zhaotong Junchi Trading [1] - The collateral for the debt from Baoshan Xinsengtai includes approximately 97,000 square meters of land and 21,000 square meters of factory buildings [1] Group 2: Strategic Rationale - The board believes that acquiring secured debt from a company in bankruptcy restructuring is a strategic move, as the group will need to pay an amount similar to the debt transfer consideration according to the restructuring plan [2] - By participating in the public bidding, the company aims to gain effective control over the collateralized assets, which are critical for securing the debts owed to the seller [2] - The seller is one of five secured creditors of the debtor company and holds significant voting rights in the upcoming creditors' meeting to approve the restructuring plan, with a confirmed debt claim value of approximately 38.32 million RMB, representing about 26.1% of the total secured debt in the bankruptcy process [2]