company news about Headlines| a packaging paper factory in Sichuan that has been suspended for nearly three years or will usher in a rebirth!

According to the public disclosure of Chengdu Competitive Bankruptcy And Liquidation Office, on June 2, 2022, the bankruptcy custody ceremony of Sichuan Xinjin Chenlong Paper Co., Ltd. was held. At the meeting, the legal representative of the custodian, Guizhou Shengshi Rongchuang Regeneration Technology Co., Ltd., made a public commitment on the spot to perform the custody system during the custody period, and made on-site reports and instructions on the relevant problems encountered in the process of resuming work and production.

According to the author's understanding, Sichuan Xinjin Chenlong Paper Co., Ltd. was established in February 2002 with a registered capital of 130 million yuan, is a recycled containerboard base paper environmental protection production enterprise that integrates papermaking equipment, management and technology. The company is located in Xinjin Industrial Park, Chengdu, Sichuan Province, covering an area of 310 acres, mainly producing corrugated paper and containerboard paper.

At the beginning of 2019, the company was also approved by a financial company with a core supply chain quota of 20 million yuan. According to the information disclosed at that time, the company's total assets are close to 800 million yuan, the annual production capacity is 350,000 tons, and the sales revenue can reach 900 million yuan. According to local media reports, the company also plans to build a new high-strength corrugated base paper production line with an annual output of 300,000 tons and supporting comprehensive utilization projects for thermal energy.

However, the good times did not last long, and on September 16, 2019, Sichuan Xinjin Chenlong Paper completely stopped production due to the break of the capital chain. Due to the large amount owed to banks and other financial institutions and private loans, foreign arrears to suppliers and wages, the company has been unable to repay the debt.

On January 21, 2021, the Xinjin District People's Court of Chengdu City ruled to accept the bankruptcy reorganization case of Sichuan Xinjin Chenlong Paper Co., Ltd. In September of the same year, the manager of Sichuan Xinjin Chenlong Paper announced a public auction of corrugated paper, containerboard paper, waste paper and other properties.

Now, with the holding of the bankruptcy custody ceremony of Sichuan Xinjin Chenlong Paper, the papermaking company that has been suspended for nearly three years may usher in a new beginning. At the meeting, the relevant leaders said that they will actively promote the resumption of work and production of Chenlong Paper, and strive to achieve the responsibility goal of helping the horse to send a show, so that Chenlong Paper can phoenix nirvana and be reborn in the fire.

By the way, the custodian, Guizhou Shengshi Rongchuang Recycling Technology Co., Ltd., is also a papermaking enterprise. The enterprise was registered in July 2018 and invested in the construction of a recycled paper production project with an annual output of 500,000 tons in Wong'an County, Guizhou Province. The total investment of the project is 1.2 billion yuan, covering an area of 268 acres, and is built in two phases. On May 14, 2021, the project's first paper machine PM1 was successfully produced.