According to a new announcement from Yinbaoshan, the company's holding subsidiary, Changsha Yinbaoshan New Auto Parts Co., Ltd. received a notice from the Liuyang Municipal People's Court of Hunan Province. Qingyang County Bangen Transportation Co., Ltd. applied for bankruptcy and liquidation review on the grounds that it was unable to pay its maturing debts and that its assets were insufficient to settle all debts or clearly lack solvency. The audited net assets of Changsha Auto Parts in 2025 - 103 million yuan, net loss of 26.1987 million yuan; net assets for the first half of 2026 - 109 million yuan, net loss of 5.345,500 yuan. As of the end of August 2026, the company had not provided a guarantee for Changsha Auto Parts. Changsha Auto Parts owed the company about 109 million yuan, and there is a risk that the full amount cannot be recovered. Currently, Changsha Auto Parts has not received a court ruling, and there is significant uncertainty about whether to enter bankruptcy and liquidation proceedings.

According to a new announcement from Yinbaoshan, the company's holding subsidiary, Changsha Yinbaoshan New Auto Parts Co., Ltd. received a notice from the Liuyang Municipal People's Court of Hunan Province. Qingyang County Bangen Transportation Co., Ltd. applied for bankruptcy and liquidation review on the grounds that it was unable to pay its maturing debts and that its assets were insufficient to settle all debts or clearly lack solvency. The audited net assets of Changsha Auto Parts in 2025 - 103 million yuan, net loss of 26.1987 million yuan; net assets for the first half of 2026 - 109 million yuan, net loss of 5.345,500 yuan. As of the end of August 2026, the company had not provided a guarantee for Changsha Auto Parts. Changsha Auto Parts owed the company about 109 million yuan, and there is a risk that the full amount cannot be recovered. Currently, Changsha Auto Parts has not received a court ruling, and there is significant uncertainty about whether to enter bankruptcy and liquidation proceedings.