ST Xinhua Jin: Controlling shareholders Lu Jin Group and Xinhua Jin Group undergo bankruptcy reorganization

2026-03-01 01:28:03

ST Xinhua Jin Announcement: The bankruptcy reorganization applications filed by the company’s controlling shareholder Shandong Lujin Import and Export Group Co., Ltd. and the indirectly controlling shareholder Xinhua Jin Group Co., Ltd. have been accepted by the People’s Court of Shinan District, Qingdao City, Shandong Province. Creditors are required to submit their claims to the administrator before March 14, 2026. The first creditors’ meeting is scheduled for March 20, 2026. As of the announcement date, Xinhua Jin Group and its affiliates have outstanding non-operational funds of 406 million yuan that have not been repaid; the company will declare these claims during the bankruptcy process. Currently, the company’s production and operations are normal, but there is uncertainty regarding whether control will change.

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