格隆汇12月31日丨恒大汽车(00708.HK)公告，集团继续探索管理现金资源的方法，包括出售其非核心资 产以支持其营运活动。同时，公司若干附属公司正面临破产清算程序。于过去3个月，若干法院发布命 令，为其中部分附属公司委任管理人及╱或批准破产重整计划。 继续暂停买卖。 鉴于其流动性挑战，公司并无分配其有限资源聘请其核数师及其他相关专业顾问进行截至2024年12月31 日止年度的现场及其他审核工作，继而亦导致集团截至2025年6月30日止6个月中期业绩的刊发延迟。于 本公告日期，公司无法合理确定香港联合交易所有限公司证券上市规则("上市规则")规定的未刊发财务 业绩的刊发日期。公司将于合理地确定未刊发财务业绩的预期刊发日期后，在切实可行的情况下尽快公 布该日期。 此外，公司将继续物色合适候选人，委任为独立非执行董事以填补傅辞任后临时空缺，以符合8月公告 所披露上市规则规定，并将努力履行复牌指引及在切实可行的情况下尽快恢复股份于联交所买卖。 ...

Core Viewpoint - Tianhai Low Temperature has been declared bankrupt by the Beijing High People's Court, with a management team appointed to oversee the liquidation process [1] Group 1: Bankruptcy Announcement - The Beijing High People's Court accepted the bankruptcy liquidation case of Tianhai Low Temperature on November 28, 2025 [1] - Beijing Tianda Gonghe Law Firm has been designated as the administrator for Tianhai Low Temperature [1] Group 2: Administrator Responsibilities - The administrator is responsible for taking control of the debtor's assets, seals, and financial documents [2] - The administrator must investigate the debtor's financial status and prepare a report on the financial condition [2] - The administrator has the authority to manage the debtor's internal affairs and decide on daily expenditures [2] Group 3: Impact on the Company - The company holds a 75% stake in Tianhai Low Temperature through its wholly-owned subsidiary, Beijing Tianhai Industrial Co., Ltd [2] - The bankruptcy liquidation of Tianhai Low Temperature is not expected to have a significant impact on the company's existing business [2] - Tianhai Low Temperature will no longer be included in the company's consolidated financial statements [2]

在无人关注的角落，茶里的前员工、供应商和借贷的银行一直在向茶里讨要薪资和欠款，周期长达一年。近期，茶里也迎来了司法风险集中爆发期。这家 公司离破产清算似乎只有一步之遥了。 讨薪一整年未果 12月22日，星期一，已在新公司上班大半年的刘欣收到广州市南沙区人民法院发的结案通知。今年2月，她从广州茶里公司正式离职，离职时被拖欠了3个 月的工资和8个月的公积金，她便跟部门同事一起向茶里发起了劳动仲裁。 此时距离她发起仲裁已过去整整10个月，22号当天，她跟几个茶里的前同事一起前往南沙区法院领取结案通知书。法院的工作人员告知他们，其仲裁的公 司主体——广州众森食品有限公司（以下简称众森食品），以及该公司的法人"谭谈"账户上均没钱，法院无法执行。法院让其再提供线索，并考虑追加被 执行人，即将众森食品的母公司"广州茶里集团有限公司"（以下简称广州茶里），及其法人和几位股东追加为执行人。 （刘欣按法院建议重新拟定的追加被执行人申请书） 由于原申诉已立案，再追加执行人，意味着要重新立案，所有的诉讼程序又要重走一遍。"法院告诉我们有些资料可以不用再提交，但是重新立案后，什 么时候能有一个明确结果，很难说，但年前肯定是拿不到钱了。 ...

12月12日，信邦智能连发两则公告，披露重大经营调整：一是审议通过终止两项募投项目，二是控股子公司珠海景胜科技有限 公司（以下简称"景胜科技"）被法院裁定受理破产清算申请。 终止两项募投项目优化资源配置 （一）募集资金及项目投入背景 信邦智能于2022年6月完成首次公开发行股票，募集资金总额约7.59亿元，扣除发行费用后实际净额6.79亿元，计划投向三大项 目：高端智能制造装备生产基地建设项目、智能制造创新研发中心项目、信息化升级建设项目。因实际募集资金净额低于预计 金额，公司此前已对部分项目拟投入资金进行调整。 （一）破产清算背景 信邦智能控股子公司景胜科技在清算过程中，因资产不足以清偿债务，经股东会决议后向法院申请破产清算。近日，广东省珠 海市中级人民法院已送达《民事裁定书》，正式受理景胜科技的破产清算申请，目前尚未指定破产管理人。 公告明确，本次事项不会对公司整体业务发展及盈利水平产生重大不利影响，不存在损害公司及股东利益的情况。 截至2025年11月30日，三大项目整体投资进度为41.72%。其中，拟终止的"智能制造创新研发中心项目"拟投入募集资金1.76亿 元，累计投入4325.33万元，投资进度2 ...

中光学公告称，原控股子公司中富康因资不抵债，于2025年1月17日向法院申请破产清算。2025年12月8 日，管理人向法院提交终结破产程序报告并获受理。法院查明，已裁定宣告中富康破产，认可《河南中 富康数显有限公司财产分配方案》。法院最终裁定终结中富康破产程序，管理人继续履职。该破产清算 不影响公司生产经营及持续经营，对当期损益无重大影响。 ...

12月3日，染料龙头亚邦股份（603188）（SH603188，股价4.92元，市值28.05亿元）发布公告称，参股 公司江苏仁欣环保科技有限公司（以下简称"仁欣环保"）收到江苏省灌南县人民法院（以下简称"灌南 法院"）的《民事裁定书》等文书。 据悉，因仁欣环保无法清偿到期债务且明显缺乏清偿能力，申请人兼债权人连云港诚挚化工有限公司 （以下简称"诚挚化工"）向灌南法院申请对仁欣环保进行破产清算，法院裁定受理了该申请。 颇具戏剧性的是，触发此次破产清算的债务仅有22.92万元。 灌南法院认为，仁欣环保不能清偿到期债务，经人民法院强制执行无法清偿债务，明显缺乏清偿能力， 具备破产清算原因，且主体适格，故法院予以受理。 在管理人指定方面，灌南法院通过随机摇号方式，依据相关法律规定指定江苏公善民律师事务所担任仁 欣环保管理人，李传斌为管理人负责人。明确仁欣环保的债权人应于2026年1月10日前向仁欣环保管理 人申报债权。未在上述期限内申报债权的，可以在破产财产分配方案提交债权人会议讨论前补充申报。 灌南法院定于2026年1月16日9时30分在第二审判庭召开第一次债权人会议，依法申报债权的债权人有权 参加债权人会议。 ...

Core Points - Guangdong Province High People's Court issued a civil ruling on March 13, 2025, instructing Shenzhen Intermediate People's Court to accept Chen Kai's bankruptcy liquidation application against Shenzhen Qianhai Jiahua Investment Partnership (Limited Partnership) [1] - Shenzhen Intermediate People's Court appointed Guangdong Zhongcheng Law Firm as the administrator for Shenzhen Qianhai Jiahua Investment Partnership (Limited Partnership) on May 9, 2025 [1] - The administrator is scheduled to auction the stocks of Hubei Three Gorges New Materials Co., Ltd. (stock code: 600293) held by Shenzhen Qianhai Jiahua Investment Partnership (Limited Partnership) on Alibaba's bankruptcy auction platform from December 10, 2025, to December 11, 2025 [1]

Core Viewpoint - Huaxin Trust has officially entered bankruptcy proceedings as approved by the Dalian Financial Supervision Administration, marking a significant event in the trust industry in China [3][4]. Group 1: Bankruptcy Process - The Dalian Financial Supervision Administration approved Huaxin Trust's bankruptcy based on its earlier application for reorganization, with the approval dated October 23 [3]. - The court has formally accepted Huaxin Trust's bankruptcy reorganization application on November 28, indicating a structured process ahead [3][4]. - Huaxin Trust is expected to comply with legal requirements and cooperate with the court and administrators to expedite the reorganization process [3]. Group 2: Historical Context - Huaxin Trust may become the third trust company to be declared bankrupt since the enactment of the Trust Law and the Enterprise Bankruptcy Law [3]. - The company has faced significant risks and has been under scrutiny for several years, being classified as one of the high-risk trust companies since 2019 [5]. - Previous incidents, including a high-profile internal conflict involving the company's chairman, have contributed to its financial difficulties [5]. Group 3: Financial Performance - As of the end of 2019, Huaxin Trust reported total assets of 12.376 billion yuan, with trust assets managed amounting to 61.58 billion yuan [6]. - The company experienced a drastic decline in revenue, with a 50% drop in operating income to 573 million yuan and a net loss of 152 million yuan in 2019 [6].

Core Viewpoint - Huaxin Trust is likely to become the third trust company to be declared bankrupt since the promulgation of the Trust Law and the Enterprise Bankruptcy Law, as it has entered the bankruptcy reorganization process approved by the Dalian Financial Supervision Administration [1][2]. Group 1: Bankruptcy Process - On November 28, the Dalian Financial Supervision Administration approved Huaxin Trust's bankruptcy application, allowing it to enter the bankruptcy process [1]. - The approval was based on Huaxin Trust's earlier bankruptcy reorganization application submitted to the authorities, with the approval date being October 23 [1]. - The court formally accepted the bankruptcy reorganization application on the same day as the approval [1]. Group 2: Company Background - Huaxin Trust was established in 1981 with a registered capital of 6.6 billion yuan, making it the only trust company in Liaoning Province [3]. - As of the end of 2019, Huaxin Trust had total assets of 12.376 billion yuan, with trust assets under management amounting to 61.58 billion yuan, primarily in real estate and financial institutions [4]. - The company was classified as one of the six high-risk trust companies by the former China Banking and Insurance Regulatory Commission in late 2019 [3]. Group 3: Financial Performance - In 2019, Huaxin Trust reported an operating income of 573 million yuan, a 50% decrease year-on-year, and a net loss of 152 million yuan, compared to a profit of over 800 million yuan the previous year [4]. - The company has faced significant operational challenges, including the suspension of its "fund pool" business in April 2020 and multiple announcements of delayed payments on collective trust products starting in September 2020 [3].

山东钢铁公告称，公司第八届董事会第十八次会议通过控股子公司冶金生态申请破产清算的议案。冶金 生态已停止经营，截至2025年10月31日，资产9.12万元，负债3380.55万元，所有者权益-3371.43万元， 已资不抵债。公司持股冶金生态51%，其破产清算申请若被受理，将不再纳入公司合并报表，预计增加 归母净利润1588万元，最终以审计结果为准。该事项利于公司聚焦主业，降低风险。 ...