---
title: "Salary payments halted, social security suspended! Shenzhen's well-known chairman: 'I'm bankrupt!'Re"
description: "Salary payments halted, social security suspended! Shenzhen's well-known chairman: 'I'm bankrupt!'Recently, an internal notice from Haida Decoration, a Shenzhen-based company with over 20 years in the"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/33707772.md"
published_at: "2025-09-06T11:12:50.000Z"
author: "[阿里干饭夕阳地产圈](https://longbridge.com/en/profiles/17085047)"
---

# Salary payments halted, social security suspended! Shenzhen's well-known chairman: 'I'm bankrupt!'Re

Salary payments halted, social security suspended! Shenzhen's well-known chairman: 'I'm bankrupt!'

Recently, an internal notice from Haida Decoration, a Shenzhen-based company with over 20 years in the renovation business, has caused a stir online, leaving many employees and peers worried.

The notice was direct and brutal: Due to operational difficulties, the company has been unable to resume work for a long time and is now out of money. Starting from August 26, all employees on leave will no longer receive any suspension benefits; the company can no longer afford to pay social security and housing provident funds for employees. The notice ended by asking employees to return to the company to discuss 'next steps.'

This news has left everyone wondering: How could a company that once earned 2 billion yuan annually and worked for Huawei and Tencent collapse so suddenly?

\*\*Chairman personally confirms: 'I've gone bankrupt to keep the company alive'\*\*

Facing overwhelming questions, on the evening of August 27, Gao Feng, chairman of Haida Decoration, stepped forward and confirmed the news to the media.

He helplessly stated that, in order to 'keep the company afloat,' he and the company have sold all sellable assets to CITIC Financial Assets for 150 million yuan.

Just two years ago (2023), he confidently told reporters that he owned office buildings, industrial land, and villas, totaling nearly 1 billion yuan in value. In just two years, the valuation plummeted from 1 billion to a fire-sale price of 150 million—what a massive financial hole this must be!

### Related Stocks

- [02799.HK - CITIC FAMC](https://longbridge.com/en/quote/02799.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.