Zhejiang Bangjie Warns of Potential Delisting as Subsidiary Enters Court-Approved Pre-restructuring

Zhejiang Bangjie (SHE:002634) has issued a warning regarding potential delisting due to the risk of its net assets becoming negative by 2025. This situation arises after a Yangzhou court accepted the pre-restructuring application for its subsidiary, Yangzhou Bangjie New Energy, which is facing insolvency with 2.65 billion yuan in liabilities. The company highlighted significant risks, including 630 million yuan in guaranteed debt and unrecoverable receivables totaling 650 million yuan. Despite these challenges, shares of Zhejiang Bangjie rose by 2% recently.