CHINA PHOENIX(SZ:000520)2022-12-08 08:12Group 1: Company Restructuring - The company applied for court approval of its bankruptcy restructuring plan on February 25, 2014, with a decision expected by the end of March 2014 [2][3] - At its peak, the company's debt reached over 9 billion yuan, leading to severe insolvency [3] - The restructuring aims to address debt issues through workforce reduction, debt alleviation, and operational adjustments, adopting a fully market-oriented approach [3] Group 2: Current Operational Status - The company currently has a total controllable capacity of over 70,000 tons [3] - Following the approval of the restructuring plan, the company expects to relieve itself from debt pressure and interest burdens, while maintaining operations through leasing [3] Group 3: Future Operational Measures - The company has adjusted its board structure and reduced its size, with plans to continue workforce reductions aiming to streamline personnel to under 1,000 by the end of the year [3][4] - There is currently no clear plan for restructuring, but if successful, it could lead to a more rational organizational structure [4] - The company has not yet introduced strategic investors [4]