Core Viewpoint - The restructuring plan of Jiangsu Times Chip Storage Semiconductor Co., Ltd. has failed, leading to the company's bankruptcy and the complete loss of shareholder equity [1][2]. Group 1: Company Overview - Jiangsu Times Chip Storage was established in October 2016 with a total investment of 13 billion RMB, focusing on developing and producing storage products using the latest PCM technology [1]. - The company aimed to build a 12-inch wafer factory capable of producing 100,000 pieces of phase change memory annually and had acquired an ASML lithography machine valued at 143 million RMB [1]. Group 2: Financial Issues - The company has faced severe financial difficulties, with total enforcement amounts reaching 863 million RMB, involving equipment suppliers, contractors, freight companies, and former employees [2]. - The company has been declared insolvent, with its original shareholders' equity being legally wiped out due to the failure of the restructuring plan [1]. Group 3: Industry Impact - The failure of the restructuring plan signifies the complete closure of what was considered the last unfinished 12-inch wafer factory in China's semiconductor industry [2]. - The bankruptcy case was officially accepted by the Huaiyin District People's Court in July 2023, leading to the public auction of the lithography machine [1].