SINOCHEM INTERNATIONAL: The bankruptcy reorganization application of its holding subsidiary Ningxia Lithium Battery has been accepted by the court

Zhitong
2025.11.03 08:46

SINOCHEM INTERNATIONAL announced that its holding subsidiary Ningxia Lithium Battery recently received a "Civil Ruling" delivered by the Zhongwei Intermediate People's Court, which has ruled to accept the reorganization application of Ningxia Lithium Battery and appointed a bankruptcy reorganization administrator. Ningxia Lithium Battery has been continuously losing money and is insolvent due to external market conditions and other factors. SINOCHEM INTERNATIONAL holds a 94% stake in it. As of September 30, 2025, Ningxia Lithium Battery had total assets of 240.6297 million yuan and total liabilities of 286.7488 million yuan; from January to September 2025, it had revenue of 105.1354 million yuan and a net profit of -23.5371 million yuan. This reorganization may alleviate the company's operational burden, but since the plan has not been determined, the specific impact on the company's profits and losses cannot yet be assessed

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