Listed Company: Foshan Gaoxin Textile Announced The Termination Of Bankruptcy Liquidation Procedures

According to a recent civil ruling ((2024) Yue 0604 No. 2-2) issued by the People's Court of Chancheng District, Foshan City, Guangdong Province, on December 24, 2024, the administrator of the applicant Foshan Gaoxin Textile Co., Ltd. filed an application with the Court, requesting the Court to adjudicate the bankruptcy of Foshan Gaoxin Textile Co., Ltd. and terminate the bankruptcy liquidation procedure.

As of April 15, 2024, the list of liabilities of Gaoxin Textile is worrisome: a total profit debt of 26486.07 yuan, employee claims of 118410.9 yuan, tax claims of 73700.74 yuan, ordinary claims of 2696742.78 yuan, and inferior claims of 26155.22 yuan. After a long period of shutdown, the asset manager had no choice but to conclude that it was insolvent and there was no hope of reconciliation and reorganization, and it could only go bankrupt. The court ruled in accordance with the law and published it on the national enterprise bankruptcy reorganization case information website, marking the end of its 16 year history.