ST Hezong announced on the evening of September 15 that it is publicly recruiting restructuring investors for the company, with registration closing at 6 p.m. on October 15, 2026. The company received a bankruptcy restructuring and pre-restructuring notice from creditor Jiangsu Weituoli Electric Power Engineering Technology Co., Ltd. on July 24, 2026. On July 29, the Beijing First Intermediate People's Court decided to initiate pre-restructuring for the company and appointed the liquidation group of Hezong Technology Co., Ltd. as the interim administrator. Prospective industrial investors are required to pay a registration deposit of 50 million yuan, while prospective financial investors must pay a registration deposit of 10 million yuan. In the first half of the year, the company achieved operating revenue of 788 million yuan, up 7.11 percent year on year, while net profit attributable to the parent company was a loss of 118 million yuan, with the loss widening by 51.27 percent compared with the same period last year. Net assets attributable to the parent company at the end of the period were only 2.44 million yuan, down 97.96 percent from the end of the previous year. The company posted losses for three consecutive years from 2023 to 2025, with cumulative losses reaching 2.169 billion yuan. The announcement cautioned that the court's initiation of pre-restructuring does not mean it has formally accepted the restructuring application. If the restructuring fails, the company faces the risk of being declared bankrupt and having its shares delisted.
Beijing Hezong Science&Technology Co LtdCompany is in court-supervised pre-restructuring with risk of bankruptcy and delisting if restructuring fails.
