Rendong Holdings (SHE:002647) has been granted permission by the Guangzhou Intermediate People's Court to manage its property and business affairs under the supervision of a court-appointed administrator during its reorganization period, according to a Thursday filing with the Shenzhen Stock Exchange.
The decision follows pre-restructuring preparations, including debt audits and the identification of investors. The company's core business operations are stable, with bankruptcy risks persisting if the restructuring fails.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.