A steel mill in Shandong applies for bankruptcy settlement
2020-11-12 17:55:51 [Print]
On November 10, the National Enterprise Bankruptcy and Reorganization Case Information Net announced that it accepted the bankruptcy liquidation application submitted by the applicant Qingdao Yingang Ironmaking Co., Ltd.
According to the written verdict, Qingdao Yingang Ironmaking Co., Ltd. has caused serious consecutive losses because of its improper operation and management, and has difficulty in capital turnover. Based on the company's financial statements, Qingdao Yingang currently has total assets of RMB793 million (USD119 million), total liabilities of RMB2.23 billion (USD335 million), and asset-liability ratio of 280.8%.
According to public information on the Internet, Qingdao Yingang, with an annual production capacity of 3.6 million tons of high-quality steelmaking liquid iron, is a subsidiary of Qingdao Iron and Steel Holding Group Co., Ltd.
According to the written verdict, Qingdao Yingang Ironmaking Co., Ltd. has caused serious consecutive losses because of its improper operation and management, and has difficulty in capital turnover. Based on the company's financial statements, Qingdao Yingang currently has total assets of RMB793 million (USD119 million), total liabilities of RMB2.23 billion (USD335 million), and asset-liability ratio of 280.8%.
According to public information on the Internet, Qingdao Yingang, with an annual production capacity of 3.6 million tons of high-quality steelmaking liquid iron, is a subsidiary of Qingdao Iron and Steel Holding Group Co., Ltd.
