Changjiang Pharmaceutical Group (SHE:300391) said its subsidiary, Hubei Changjiang Xing Pharmaceutical, filed for bankruptcy reorganization by creditor Wuhan Century Baima System Engineering due to overdue debt of 6.2 million yuan, according to a Thursday filing with the Shenzhen Bourse.
The Shiyan Intermediate People's Court accepted the case on Feb. 11. The company is also undergoing pre-restructuring. Changjiang Xing plays a key role in the company's operations, and a successful restructuring could help resolve financial difficulties.
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.