SINOCHEM INTERNATIONAL: The holding subsidiary Ningxia Lithium Battery applies for bankruptcy reorganization

Zhitong
2025.10.13 10:50

SINOCHEM INTERNATIONAL announced that its controlling subsidiary, Ningxia Sinochem Lithium Battery Materials Co., Ltd., has been continuously operating at a loss, is insolvent, and cannot repay its due debts. The board of directors has agreed for Ningxia Lithium to apply to the court for bankruptcy reorganization to avoid further deterioration of its operational and financial situation leading to bankruptcy liquidation. As of June 30, 2025, Ningxia Lithium's total assets amounted to 244 million yuan, total liabilities were 288 million yuan, and the net profit for January to June 2025 was -21.5812 million yuan. The purpose of the bankruptcy reorganization is to attract strategic investors, improve the asset-liability structure, restore the company's vitality, enhance asset utilization efficiency, control potential investment losses, and protect shareholder rights

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