Hi-Target Navigation Tech's (SHE:300177) 87.8%-owned subsidiary, Lingjing Technology, has entered bankruptcy liquidation after a ruling by the Xi'an Intermediate Court.
The court accepted a creditor's petition, citing the subsidiary's inability to repay debts, according to a Wednesday filing with the Shenzhen bourse.
Lingjing Technology, mainly operating in the cultural and tourism tech industry, generated only 47,436 yuan in revenue in 2024.
Shares of the surveying and mapping instruments manufacturer closed 3% lower Wednesday.
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