Guirenniao Company is a comprehensive enterprise integrating the research and development, production and marketing of sports shoes, clothing and ancillary products. It is the fastest growing Chinese national sports brand in recent years and has successively won the titles of China Famous Trademark and China Famous Brand. Products, national inspection-free products, tax-paying AAA-level enterprise and other honorary titles.

It is worth noting that the Tianyancha APP shows that in August this year, Guireniao Co., Ltd. was listed as the person subject to execution by the Hefei Intermediate People's Court, and the execution target was 131192600.0.

According to a report by the International Finance News on August 31, after experiencing a brilliant development period in the initial stage of listing, Guirenniao has "stalled" in recent years. Overdue loans, debt overhang, and delisting risks have become even more serious. Keywords that have been mentioned frequently this year. Now we have reached a critical period of "life and death".

Extended information:

Guirenniao Company has reached a critical period of life and death

In December 2019, the corporate bond "14 Guirenniao" expired. Due to the company's capital liquidity The company failed to pay the principal and interest of the "14 Guirenniao" bonds as scheduled, and the trading of the "14 Guirenniao" bonds was suspended.

Since then, due to debt default, creditors have filed for pre-litigation property preservation, resulting in the company being unable to apply for loan renewal business from the bank after some of its bank loans expired; at the same time, due to tight liquidity, the company was unable to meet deadlines. Pay the 2.5 billion yuan comprehensive credit line applied to various banks in June 2019. As of the end of May this year, the company's loan balance in various banks was 1.410 billion yuan, and the total principal of overdue loans and bonds reached 2.557 billion yuan.

In this regard, Guirenniao stated that the Quanzhou Intermediate People’s Court’s decision to initiate pre-reorganization of the company does not mean that the Quanzhou Intermediate People’s Court finally accepted the company’s reorganization application, nor does it mean that the company has officially entered the reorganization process. If the court ultimately successfully implements the reorganization plan, it will help the company return to the path of healthy development, but there is still the risk of being declared bankrupt due to failure of reorganization.

Baidu Encyclopedia - Guireniao

China.com - Guireniao Company was listed as the person subject to execution and has reached a critical period of life and death