Aug 11, 2021 08:05 PM (GMT+8) · EqualOcean
Sichuan Meifeng announced that the joint-stock company Xinjiang Meifeng received a notice from the court on the afternoon of August 6, 2021, requesting an opinion reply to the application for bankruptcy reorganization submitted by the supply and marketing (Group) Co., Ltd. of the first division of Xinjiang production and Construction Corps. The application matters are: applying for bankruptcy reorganization of Xinjiang Meifeng. Xinjiang Meifeng plans to make a no objection reply to the Alar Reclamation District Court on the morning of August 10, 2021. The company has written down the book value of its long-term equity investment in Xinjiang Meifeng to zero in 2017. As of the disclosure date of the announcement, the write down of the book value to zero has not changed. As of the disclosure date of the announcement, the company has receivable 1.638 million yuan of Xinjiang Meifeng creditor's rights, and the company has fully accrued bad debt reserves for the creditor's rights.

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