Unable to pay off the debts due, a bank filed with the court for bankruptcy and reorganization of Kangmei

On April 22, Kangmei Pharmaceutical issued an announcement stating that the company had received the (2021) Guangdong 52 Poshen No.

According to the announcement, on April 19, 2019, Jiedong Rural Commercial Bank and the company signed the "Highest Mortgage Guaranteed Loan Contract" (hereinafter referred to as the "Loan Contract") numbered as Rural Commercial Bank High Loan Zi No.

Ma Xingtian, Xu Dongjin and Jiedong Rural Commercial Bank signed the "Guaranty Guarantee Contract" No.

On April 16, 2020, due to the greater pressure of capital turnover and debt redemption, the company signed the “Extension Repayment Agreement” with Jiedong Rural Commercial Bank on the above-mentioned loan extension issue with the number “Lou Zhan Xie Zi 2020 No.

According to the relevant provisions of the "Enterprise Bankruptcy Law of the People's Republic of China", if the court accepts the applicant's application for reorganization of Kangmei, the court will appoint an administrator, and the creditor will declare its claims to the administrator in accordance with the law.

Kangmei stated that in accordance with the relevant provisions of the Enterprise Bankruptcy Law of the People's Republic of China, the board of directors has the right to apply to the court for reorganization of the debtor when the debtor is unable to pay off the due debt and is obviously lack of solvency.

Kangmei revealed that if the court officially accepts the company's reorganization application, the company will be at risk of being declared bankrupt due to the failure of the reorganization.

In addition, according to Article 13.

And on April 17, ST Kangmei issued a performance forecast correction announcement.