On May 11, the manager of Shandong Hengda Rubber Co., Ltd. issued an announcement.
According to the announcement, the company's second creditors' meeting will be held at 9 o'clock on May 31.
Creditors who declare their claims in accordance with the law have the right to participate in the meeting.
It is understood that in April 2023, the Shandong Guangrao Court ruled to accept the bankruptcy liquidation case of Hengda Rubber.
It was found that the company was seriously insolvent, with total liabilities of 1.183 billion yuan.
The court held that Hengda Rubber had suffered serious losses due to poor management.
The business is unable to pay off all of its debts and qualifies for bankruptcy.
On July 29 of that year, the court ruled to declare Hengda Rubber bankrupt in accordance with relevant regulations.
According to the data, Hengda Rubber was established in 1995 and mainly produces motorcycle inner and outer tubes.
It has an annual production capacity of 30 million inner tubes and 3 million outer tubes.