Guangdong Chigo Air Conditioning Co., Ltd., once grouped with Gree, Midea, and Haier as one of China’s “Four Little Dragons” of air conditioning, has officially reached the end of the road with bankruptcy liquidation. Recently, the Foshan Nanhai District People’s Court issued an announcement ruling to accept the bankruptcy liquidation application against Guangdong Chigo Air Conditioning Co., Ltd. This once-national brand, famous for its slogan “Good Air Conditioner, Made by Chigo” and with annual revenue once exceeding 10 billion yuan, now self-reported liabilities of approximately 3.2 billion yuan (~$466 million). It has over a hundred unsettled legal cases in the Guangdong region, with its core assets reduced to factory buildings,…
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