Gelonghui, October 16th ─ Xinsai Co., Ltd. (600540.SH) announced that recently, Xinsai Trade received the ‘Civil Ruling’ [(2025) Xin 0106 Po 1 No. 1] from the Toutunhe District People’s Court, with the main content as follows:
This court holds that the assets of Xinjiang Xinsai Trade Co., Ltd. are insufficient to repay its due debts, which meets the conditions for declaring bankruptcy as stipulated by law. In accordance with Article 2, Paragraph 1 and Article 107 of the ‘Enterprise Bankruptcy Law of the People’s Republic of China,’ it is ruled as follows: Declare Xinjiang Xinsai Trade Co., Ltd. bankrupt.
The liquidation of Xinsai Trade will not affect the production and operation of the company’s existing businesses. After Xinsai…