HNHD plans to apply for the bankruptcy liquidation of its holding subsidiary Haikong Sanxin
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According to the Zhitong Finance APP, Hainan Development announced that due to the impact of external market conditions and other factors, Haikong Sanxin's operating performance is in a state of continuous loss, and it has encountered a situation of insolvency and inability to repay due debts. In accordance with the company's development plan and to achieve the goal of timely loss mitigation, the company's board of directors has agreed to apply to the court for the bankruptcy liquidation of Haikong Sanxin as a creditor or as a debtor in accordance with the relevant provisions of the Enterprise Bankruptcy Law of the People's Republic of China
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