截至本公告日期，破产重整申请能否被法院受理、公司是否进入重整程序尚具有重大不确定性。公司将 知会股东及投资者有关公司预重整申请的任何重大进展，并将根据上市规则于适当时候另行作出公布。 近年来，受宏观经济、地产调控及疫情影响，公司深陷债务和经营危机，虽已采取多项自救措施，但收 效不彰，目前各类风险已全面暴露且不断加剧。根据《中华人民共和国公司法》、《中华人民共和国企 业破产法》相关规定，鉴于公司经营困顿，已不能清偿债权人到期债务，且明显缺乏清偿能力，公司已 符合《中华人民共和国企业破产法》第二条、第七条规定的情形，具备重整的条件。同时，公司在装配 式建筑行业具有较深的技术储备、较高的行业地位和较强的品牌影响力，具备重整的价值;且公司作为 联交所上市公司，具有一定平台资源优势，有望通过重整引入优质的战略投资人，化解债务风险，进一 步提高企业核心竞争力，更好地为广大股东、职工和社会创造价值。基于上述理由，根据公司的实际经 营需要，本着谨慎、适宜、必需的原则，根据《中华人民共和国企业破产法》及《长沙远大住宅工业集 团股份有限公司章程》的相关规定，公司拟自行向长沙市中级人民法院申请破产重整。公司将适时召开 股东会审议关 ...

Core Viewpoint - The power struggle within the Zheng family over Shanshan Group has concluded with the company entering a restructuring process, marking a significant change in control and management, led by the new actual controller Ren Yuanlin [1][2][4]. Group 1: Control Change and Restructuring - Shanshan Group and its subsidiaries have signed a restructuring investment agreement with a consortium including Jiangsu Xinyangzi Trading, TCL Industrial Investment, and others, indicating a fundamental change in the company's control [1][4]. - The restructuring will involve the acquisition of 23.36% of Shanshan's shares through various methods, with Ren Yuanlin emerging as the new actual controller [4][5]. - The restructuring includes a strict 36-month lock-up period for all parties involved, ensuring stability in control and signaling long-term commitment to the market [5]. Group 2: Financial Performance and Challenges - Shanshan's financial performance has been declining, with net profits dropping for three consecutive years, including a loss of 367 million yuan in 2024 due to intensified industry competition and cost pressures [6][7]. - However, in the first half of 2025, Shanshan reported a net profit of 207 million yuan, a remarkable increase of 1079.59% year-on-year, attributed to stabilized prices of anode materials and optimized customer structure [7][8]. - The company's stock price has surged over 160% from its low in April 2025 to the end of September, reflecting investor confidence in the restructuring and performance recovery [9]. Group 3: Strategic Outlook and Industry Context - Shanshan has established a dual business strategy focusing on lithium battery anode materials and polarizer production, but both sectors face significant challenges [9][10]. - The new actual controller Ren Yuanlin's background in finance and investment may provide necessary support for Shanshan's strategic upgrades and industry collaboration [9][10]. - The case of Shanshan highlights the broader challenges faced by private enterprises in China regarding succession, strategic transformation, and capital operations [10].

Core Viewpoint - TCL Technology is participating in the bankruptcy reorganization of its major supplier, Shanshan Group, to strengthen supply chain stability and enhance collaboration in semiconductor display materials [1][2]. Group 1: Investment Details - TCL Technology, through its subsidiary TCL Xiamen Industrial Investment Partnership, is investing up to 500 million yuan in the reorganization of Shanshan Group and its subsidiary Ningbo Pengze Trading [1]. - After the reorganization, TCL Xiamen will acquire 43.7 million shares of Shanshan Co., representing 1.94% of its total share capital, at an approximate price of 11.44 yuan per share [1][2]. - The total investment by the consortium in Shanshan Co. is expected to be 2.23 billion shares, accounting for 9.93% of the total share capital, with a total payment of 2.555 billion yuan [2]. Group 2: Strategic Rationale - The investment is aimed at consolidating the existing partnership between TCL and Shanshan, which is a key supplier of polarizers for TCL's semiconductor display business [2]. - This move is expected to improve the stability of TCL's production supply chain and enhance the efficiency of collaboration in upstream material research and production [2]. Group 3: Financial Context - Shanshan Group was placed under reorganization by court order on February 25, 2023, with over 95% of its debts due within one year [2]. - As of January 15, 2025, Shanshan Group's total interest-bearing liabilities (excluding listed company Shanshan Co.) amounted to 12.621 billion yuan, with short-term debts due within one year totaling 12.037 billion yuan [2]. Group 4: Control Changes - The reorganization investors plan to acquire control of 23.36% of Shanshan Co. through a combination of direct purchases and trust arrangements, leading to a change in the company's controlling shareholder and actual controller [3].

涉及债务规模达1470亿元，债权人超8400家的金科股份破产重整计划进入收官阶段。 9月27日，金科股份透露，其与中信信托签署破产重整专项服务信托合同。与此同时，随着52.94亿股转 增股份正式过户，产业投资人上海品器联合体正式入主，创始人黄红云长达27年的掌控时代正式落幕， 公司步入"无实际控制人"的新阶段，将成为2025年A股首家完成破产重整的上市房企。 重整成功为金科股份赢得了喘息之机，而如何在新股东的带领下，盘活巨额存量资产、改善现金流，并 实现真正的业务转型，将是摆在金科股份面前更为艰巨的任务。 对此，金科股份表示，本次控制权变更不会影响正常经营。新的主导方承诺，将围绕"高效运营、精益 管理、科技创新"推动金科股份从传统开发商向不动产综合运营商转型，并着力优化公司治理结构，以 提升盈利能力和资产价值。 据此，金科股份将成为2025年A股市场首家完成破产重整的上市房企。据公开资料，金科股份及子公司 重庆金科涉及债务规模达1470亿元，债权人超8400家。 此轮重整的核心举措之一是资本公积转增股本。根据重整计划，金科股份以52.94亿股为基数，按每10 股转增10股的比例实施资本公积转增股本，总股本增至 ...

涉及8400余家债权人、债务规模达1470亿元的中国房地产行业最大规模司法重整案迎来新进展。 9月26日，金科地产集团股份有限公司（以下简称"金科股份"）发布关于公司重整事项进展的公告。 公告指出，9月24日，金科股份及重庆金科与中信信托有限责任公司分别签署《中信信托·金科股份破产 重整专项服务信托信托合同》《中信信托·重庆金科破产重整专项服务信托信托合同》及其配套文件。 专项服务信托的签署是金科重整计划中的核心环节。根据重整计划，中信信托设立破产服务信托，用作 清偿公司及重庆金科的普通债权，信托受益人则为金科股份债权人。 这一安排相当于把一部分资产"打包"成一个独立的资产池，专门用于还债。合同的签署标志着这一复杂 且关键的偿债机制完成了法律架构的搭建，进入了实质性的落地操作阶段。 此前，2024年4月22日，金科股份及全资子公司重庆金科房地产开发有限公司（简称"重庆金科"）分别 收到重庆市第五中级人民法院送达的《民事裁定书》，五中院正式裁定受理公司及重庆金科的重整申 请。 金科股份表示，2025年5月10日及11日，公司及重庆金科分别收到五中院送达的《民事裁定书》。五中 院裁定批准《金科股份重整计划》《重庆 ...

Core Viewpoint - The Chengdu Intermediate People's Court has allowed Lianstone Aviation Technology Co., Ltd. to manage its assets and business operations independently during the restructuring period under the supervision of a court-appointed administrator, which is expected to stabilize operations and protect stakeholder interests [2][3][10]. Group 1: Court Decision and Restructuring - On September 23, 2025, the Chengdu Intermediate People's Court accepted the bankruptcy restructuring case of Lianstone Aviation and appointed a management team [2][3]. - The company submitted a request to manage its assets and operations independently, which was supported by the management team due to the complexity of its operations [2][3]. - The court found that the internal governance of Lianstone Aviation was functioning normally and that independent management would benefit operational stability and asset preservation [3]. Group 2: Business Continuity - The Chengdu Intermediate People's Court has also permitted Lianstone Aviation to continue its operations during the restructuring process, which is seen as beneficial for maintaining operational stability and protecting creditor interests [9][10]. - The management team indicated that continuing operations would help reduce costs associated with returning to normal operations and maintain the company's reputation and customer base [10]. Group 3: Information Disclosure - The board of directors remains responsible for information disclosure during the restructuring period, ensuring that all disclosures are accurate and complete [4][5]. - The company has designated specific media outlets for information dissemination, including China Securities Journal and Securities Times [11].

Core Viewpoint - The news highlights the significant decline of Zotye Automobile, detailing the sale and transformation of its Hangzhou factory, which has been taken over by Yongkang Investment and is undergoing renovations, while the company faces severe financial difficulties and operational shutdowns [1][4][20]. Group 1: Factory Status - Zotye Automobile's Hangzhou factory has been sold and is no longer under its ownership, with a sign indicating it is a state-owned asset awaiting disposal [1][4]. - The total assembly workshop has been renovated and is now open to external enterprises, with four out of six planned companies already moving in [3][4]. - The factory's total assembly workshop covers approximately 14,800 square meters, while the office building spans about 12,500 square meters [9]. Group 2: Financial Difficulties - Since 2019, Zotye Automobile has faced continuous financial losses, accumulating over 25 billion yuan in losses, with a reported net loss of approximately 1.48 billion yuan in the first half of 2025 [20][22]. - The company has been unable to resume production, with its T300 production line dismantled due to judicial auction failures [17][20]. - As of 2024, Zotye's sales plummeted to just 14 vehicles, a 98.74% decrease from 2023, and production was reported at zero [21]. Group 3: Asset Management and Legal Issues - The company's shares, totaling approximately 335 million, have been frozen, complicating its financial recovery efforts [20]. - Zotye's assets are under judicial scrutiny, with ongoing legal challenges, including a significant intellectual property case resulting in a 29.5 million yuan penalty [17][20].

Core Viewpoint - The news highlights the significant decline and transformation of Zotye Auto's operations, particularly focusing on the sale and redevelopment of its Hangzhou factory, which has been taken over by Yongkang Industrial Investment and is undergoing major renovations to attract new businesses [1][3][6]. Group 1: Factory Status and Transformation - Zotye Auto's Hangzhou factory has been sold and is no longer under its ownership, with a sign indicating it is a state-owned asset awaiting disposal [1][2]. - The factory's total assembly workshop has been renovated and is now open for business, with four out of six planned companies already moving in [2][3]. - The renovation project is managed by Yongkang City Micro Enterprise Park Investment Construction Co., which has been active since September of the previous year [4][6]. Group 2: Financial and Operational Decline - Zotye Auto has faced severe financial difficulties, with net assets dropping from approximately 175.69 billion yuan in 2018 to -44.23 billion yuan in 2020, and a reported loss of about 108 billion yuan in 2020 [9]. - The company has not produced any vehicles in 2024, with sales plummeting to just 14 units compared to 1,112 units in 2023, marking a 98.74% decrease [17]. - The company has been unable to resume production due to the forced dismantling of its T300 production line and ongoing financial struggles, including the freezing of over 335 million shares [12][15][17]. Group 3: Future Plans and Developments - The existing total assembly workshop and office buildings will be retained, while the painting, welding workshops, and sheet metal library are planned for demolition and reconstruction into new high-rise and multi-story buildings [11]. - The overall redevelopment plan for the Zotye Auto manufacturing base covers approximately 91,000 square meters, with a total building area expected to reach 340,800 square meters upon completion [10][11].

Core Points - The ZOTYE Automobile factory in Hangzhou has been sold and is undergoing significant renovations, with the total assembly workshop already completed and four out of six planned enterprises having moved in [1][2][3] - The factory's previous operations have ceased, with the painting, welding workshops, and sheet metal storage set for demolition and reconstruction in the near future [4][6][7] - ZOTYE Automobile has faced severe financial difficulties, with continuous losses since 2019, totaling over 25 billion yuan, and a significant drop in production and sales in 2024 [10] Summary by Sections Factory Status - The ZOTYE Automobile factory in Hangzhou is no longer owned by the company and has been taken over by Yongkang Investment, which began renovations in September 2022 [2] - The total assembly workshop has a building area of approximately 14,800 square meters, and the office building is about 12,500 square meters, both of which are now ready for enterprise occupancy [3] Renovation and Future Plans - The painting and welding workshops, along with the sheet metal storage, are in a state of disrepair and are scheduled for demolition and reconstruction, with plans to build new high-rise and multi-story factories [6][7] - The overall area of the manufacturing base is about 91,000 square meters, with a total building area projected to reach 340,800 square meters after renovations [6][7] Financial Performance - ZOTYE Automobile has reported continuous losses since 2019, with cumulative losses exceeding 25 billion yuan, and a staggering drop in sales from 1,112 units in 2023 to just 14 units in 2024, marking a 98.74% decrease [10] - The company has an asset-liability ratio of 97.28%, with only 8.725 million yuan remaining in equity attributable to shareholders [10]

从生产线全面停工，到机器轰鸣、订单回流，常州大江饲料有限公司在经历4个月的生死博弈后重获新 生。这家拥有33年历史的老牌企业曾因2亿元债务濒临破产，但在常州新北区法院、属地奔牛镇人民政 府及专业机构的协同救治下，不仅化解了1.6亿元债务，更实现职工零下岗、各项工作稳中有进的发展 势头。这场"府院联动"与大数据赋能的破产重整实践，成为全国优化营商环境的"常州样本"。 2亿债务压顶，老牌名企命悬一线 成立于1992年的常州大江饲料有限公司，曾是常州农业领域的金字招牌。"常大"商标连续多年蝉联常州 市知名商标，其饲料产品辐射整个华东市场。然而自2020年起，多重危机接踵而至：债务违约引发连环 诉讼，法定代表人涉案失联，资产接连被查封。至2024年破产受理前，企业自行统计的对外债务已高达 2亿元，如同一艘即将沉没的巨轮。 当常州新北区法院裁定受理破产清算时，承办法官敏锐捕捉到一线生机——"常大"商标知名度仍在，生 产许可证尚未失效，厂区毗邻奔牛港的区位优势突出。一场与时间赛跑的拯救行动迅即展开。常州新北 区法院与大江公司所在地的新北区奔牛镇政府建立分工协作的府院联动机制，实现法院与政府相关部 门"互联互通、信息共享、 ...