Core Viewpoint - The announcement from Yabang Co., Ltd. indicates that its associate company, Jiangsu Renxin Environmental Technology Co., Ltd., is undergoing bankruptcy liquidation due to an inability to repay debts totaling 22.92 thousand yuan, which raises concerns about the financial health of Yabang's investment [1][2][3]. Group 1: Bankruptcy Details - Jiangsu Renxin Environmental Technology Co., Ltd. was unable to repay its debts, leading to a bankruptcy liquidation application by creditor Lianyungang Chengzhi Chemical Co., Ltd. [1][2] - The court accepted the bankruptcy application on June 18, 2023, after determining that Renxin Environmental lacked the ability to repay its debts [3][4]. Group 2: Shareholding Structure - Yabang Co., Ltd. holds a 15% stake in Renxin Environmental, which was established in 2015 with a registered capital of 100 million yuan [2][3]. - The major shareholders of Renxin Environmental include Cai Jiasheng (43.35%), Ni Xiubing (26.35%), and Gao Zu'an (15.30%) [3]. Group 3: Financial Implications for Yabang - Yabang Co., Ltd. provided a guarantee for Renxin Environmental's financing lease of 77 million yuan, which has resulted in a liability of 86.76 million yuan due to Renxin's failure to meet payment obligations [5][6]. - The company has recognized a full loss on its 15% equity investment in Renxin Environmental and has recorded a credit impairment loss of 86.76 million yuan in its financial statements for 2023 and 2024 [6].