--- title: "XEMC suffers another heavy blow! 733 million yuan in funds may be difficult to recover" type: "News" locale: "en" url: "https://longbridge.com/en/news/288914239.md" description: "XEMC announced that its creditor Hunan Xinglan Wind Power has been ruled by the court to undergo bankruptcy reorganization. The company's accounts receivable balance is 733 million yuan, with a provision for bad debts of 94.09 million yuan already made. Previously, both parties had signed a 5-year repayment plan and asset guarantee agreement. As a result, XEMC's net profit has continued to decline in recent years, with a year-on-year decrease of 9.72% in net profit attributable to the parent company for 2025, and a year-on-year decrease of 29.1% in non-recurring net profit for the first quarter of this year" datetime: "2026-06-06T00:37:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288914239.md) - [en](https://longbridge.com/en/news/288914239.md) - [zh-HK](https://longbridge.com/zh-HK/news/288914239.md) generator: "portal-rs" --- # XEMC suffers another heavy blow! 733 million yuan in funds may be difficult to recover On June 5th, XEMC announced that as a creditor of Hunan Xinglan Wind Power Co., Ltd. (referred to as "Xinglan Wind Power" or "debtor"), it has learned that Xinglan Wind Power has been ruled by the Xiangtan Intermediate People's Court to undergo bankruptcy reorganization due to its inability to repay due debts. The announcement shows that Xinglan Wind Power was established on June 9, 2006, with its registered address at No. 68 Jian Road, Xiangtan City, Hunan Province. The company's business scope includes the import, development, manufacturing, sales, service, and maintenance of wind power generation systems, wind turbines, and components, as well as the construction and operation of wind farms, and the import and export of raw materials and equipment needed for wind power system services and product production. As of the date of this announcement, the company's accounts receivable balance from purchasing products from Xinglan Wind Power is 733 million yuan. By the end of May 2026, the company has made a provision for bad debts of 94.09 million yuan for the accounts receivable from Xinglan Wind Power. The announcement pointed out that the company signed a repayment plan with Xinglan Wind Power on March 19, 2024, in which Xinglan Wind Power committed to repay the amounts owed to the company on time within five years and provided a lien asset disposal agreement and accounts receivable pledge agreement to the company. Xinglan Wind Power's assets and inventory will be pledged to the company, and its accounts receivable from downstream wind farm customers will also be pledged to the company as credit enhancement measures for the repayment plan. According to information, Xiangtan Electric Motor Co., Ltd. is a quality asset concentrated in the main business of XEMC Group and was listed in July 2002. The company mainly designs, produces, and sells generators, AC and DC motors, special motors, marine propulsion systems, electrical control equipment, and wind turbines. Since 2023, XEMC's net profit has significantly declined for two consecutive years. In 2025, the company's operating revenue was 4.888 billion yuan, a year-on-year increase of 3.97%; the net profit attributable to the parent company was 225 million yuan, a year-on-year decrease of 9.72%; the net profit attributable to the parent company after deducting non-recurring gains and losses was 7.474 million yuan, a year-on-year decrease of 93.20%. In the first quarter of this year, the company's operating revenue was 1.22 billion yuan, a year-on-year increase of 1.2%; the net profit attributable to the parent company was 50.85 million yuan, a year-on-year decrease of 3.1%; the net profit attributable to the parent company after deducting non-recurring gains and losses was 26.66 million yuan, a year-on-year decrease of 29.1%; the net operating cash flow was -450 million yuan, a year-on-year decrease of 22.4%. As of the close on June 5th, XEMC's stock price was 10.71 yuan per share, with a total market value of 15.81 billion yuan. Source: Shenzhen Commercial Daily Editor: Xin Jiayi, Chief Editor: Ning Kejian, Review: Song Hua Supervisor: Xiao Han 【Source: Shenzhen Commercial Daily】 ``` Statement: This article is copyrighted by the original author. If there are any source errors or infringements of your legal rights, you can contact us via email, and we will handle it promptly. Email address: jpbl@jp.jiupainews.com ``` ### Related Stocks - [600416.CN](https://longbridge.com/en/quote/600416.CN.md) ## Related News & Research - [Fortum, Tornator team up on up to 1,000 MW Eastern Finland wind projects](https://longbridge.com/en/news/296470510.md) - [Fortum signs wind power development cooperation deal with Tornator in eastern Finland](https://longbridge.com/en/news/296309807.md) - [Why Did Vestas Wind Systems (CPSE:VWS) Move Today?](https://longbridge.com/en/news/296452820.md) - [Iberdrola’s ScottishPower signs five-year deal with RES to service 15 UK onshore wind farms](https://longbridge.com/en/news/296611682.md) - [Schaeffler showcases wind turbine bearing portfolio at WindEnergy Hamburg 2026](https://longbridge.com/en/news/296185985.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**