<a href="https://laohu8.com/S/YCGPF">Yanchang Petroleum</a> Subsidiary Declared Bankrupt; Proceedings Terminated by Court
Yanchang Petroleum International Limited has announced updates regarding its non-wholly owned PRC subsidiary, Yanchang Petroleum (Zhejiang FTZ) Limited. The Court has officially declared the subsidiary bankrupt and appointed Guangdong Oriental Kunlun Law Firm as the administrator. The reorganisation proceedings were terminated as per the Court's ruling on June 27, 2025. Subsequently, the bankruptcy proceedings were also concluded on June 30, 2025. Despite the subsidiary's bankruptcy, Yanchang Petroleum International Limited has clarified that this event will not significantly impact the Group's current operations, performance, or financial position, as the subsidiary had already been deconsolidated from the Group's financial statements by the end of 2023.
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