Tianbang Food announced that its subsidiary Jiande Nongfa Animal Husbandry Technology Co., Ltd. has been ruled by the Jiande City People's Court of Zhejiang Province to accept the bankruptcy restructuring application. Previously, Zhejiang Construction Investment Group applied for arbitration due to a construction contract dispute, involving project payments of 1.296 billion yuan and capital occupation fees for five subsidiaries. Jiande Nongfa's liabilities exceed 500 million yuan, and it is still operating, considered to have certain restructuring value. The restructuring plan has not yet been determined, and the final impact on the company remains uncertain.
Zhejiang Construction Investment Group Co LtdSubsidiary bankruptcy restructuring due to construction contract dispute involving 1.296 billion yuan in project payments
Ningbo Tech-Bank Co Ltd