One year after declaring bankruptcy, Anhui Huaihua Group, established in 1958, was publicly auctioned on the JD Auction Bankruptcy and Clearing Platform on December 12.
The technical patents, production equipment, fixed assets and subsidiaries belonging to Anhui Huaihua Group will be the objects of this auction, with prices ranging from hundreds of thousands to hundreds of millions of yuan. According to the official website of JD.com's bankruptcy and clearing platform, the largest auction asset has a starting price of about 796 million yuan, including Anhui Huaihua Group's receivables, products in progress, housing construction, machinery and equipment, vehicles and other assets.
On July 24, 2019, Anhui Huaihua Co., Ltd. (Huaihua Stock) went into bankruptcy and liquidation. In 2018, Huaihua had a net loss of 428 million yuan. Since the net loss for more than 5 years was approved by the general meeting of shareholders, the resolution was dissolved and liquidated. As of the end of 2018, the total assets of Anhui Huaihua Co., Ltd. were 3.537 billion yuan, accounting for 7.88% of Wanbei Coal and Power Group, and its operating income was 1.151 billion yuan, accounting for 3.21% of Wanbei Coal and Power Group.
As one of the domestic coal chemical giants, the development history of Anhui Huaihua Group is closely related to the development of coal. It ushered in brilliance from the 1990s to the beginning of the 21st century. However, under the background of environmental protection supervision and the accelerated development of new energy in the past decade, it has gradually returned to Silence.
In July 2018, the last gasifier of Anhui Huaihua Group was shut down. The coal chemical giant, which has been in operation for 60 years, officially ceased production. Prior to this, Anhui Huaihua Group had been ordered to suspend production for rectification many times due to environmental protection failures.
So far, Anhui Huaihua Group has a history of 62 years, and its ending is regrettable. Public information shows that as the largest coal chemical industry base in Anhui Province, Anhui Huaihua Group has production facilities for ammonia and ammonia processing, alcohol and alcohol processing, nitrate, coking, and fine chemicals, with an annual output of 360,000 tons of ammonia and 200,000 concentrated nitric acid. Tons, 150,000 tons of ammonium nitrate, the sales volume of concentrated nitric acid has been ranked first in the country for many times.
