---
title: "KELONG FINE CHEMICAL's subsidiary Sichuan Hengze is undergoing debt restructuring for part of its receivables"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/243855959.md"
description: "KELONG FINE CHEMICAL's wholly-owned subsidiary Sichuan Hengze has reached a debt restructuring plan with Beijing Jindun and Zhonghuan Rongteng. Sichuan Hengze's receivables from Beijing Jindun amount to 24.7978 million yuan, and receivables from Zhonghuan Rongteng amount to 2.8939 million yuan, totaling 27.6917 million yuan. Due to the impact of the market environment, Beijing Jindun and Zhonghuan Rongteng are experiencing financial difficulties. Sichuan Hengze has fully provided for bad debts on its receivables and has filed a lawsuit. Ultimately, Beijing Jindun will pay 6.2591 million yuan in installments, and Sichuan Hengze will waive 21.4326 million yuan of the debt"
datetime: "2025-06-10T09:29:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/243855959.md)
  - [en](https://longbridge.com/en/news/243855959.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/243855959.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/243855959.md) | [繁體中文](https://longbridge.com/zh-HK/news/243855959.md)


# KELONG FINE CHEMICAL's subsidiary Sichuan Hengze is undergoing debt restructuring for part of its receivables

According to the announcement from KELONG FINE CHEMICAL (300405.SZ), its wholly-owned subsidiary Sichuan Hengze Building Materials Co., Ltd. ("Sichuan Hengze") collaborated with Beijing Jindun Building Materials Co., Ltd. ("Beijing Jindun") and Beijing Zhonghuan Rongteng Building Materials Co., Ltd. ("Zhonghuan Rongteng") from 2013 to 2020. During this period, Sichuan Hengze supplied a total of 213 million yuan to Beijing Jindun and Zhonghuan Rongteng. As of the date of this announcement, the total accounts receivable amounted to 27.6917 million yuan, and the company has fully provided for bad debts related to the receivables from Beijing Jindun and Zhonghuan Rongteng. Due to the impact of the market environment, Beijing Jindun and Zhonghuan Rongteng have encountered difficulties in recovering payments and are facing financial strain. Meanwhile, Sichuan Hengze's repeated collection efforts with the management of Beijing Jindun and Zhonghuan Rongteng have been unsuccessful. Sichuan Hengze has filed a lawsuit against Beijing Jindun at the Xinjing County Court in Chengdu (case number (2025) Chuan 0118 Minchu 2038). Considering the difficulty in collecting the receivables, the company has reached a debt restructuring plan after communication between both parties to expedite cash recovery and optimize the company's financial situation.

As of the date of this announcement, Sichuan Hengze's accounts receivable from Beijing Jindun amount to 24.7978 million yuan, and from Zhonghuan Rongteng amount to 2.8939 million yuan, totaling 27.6917 million yuan. Beijing Jindun will pay Sichuan Hengze in installments of 6.2591 million yuan, and the company will waive a total of 21.4326 million yuan in debts owed by Beijing Jindun and Zhonghuan Rongteng

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