Did Feng Run in Weishan County go bankrupt?

Feng Run in Weishan County closed down. According to financial headlines, Shandong Feng Run Group New Energy Technology Co., Ltd. (hereinafter referred to as "Feng Run") declared bankruptcy due to poor management, serious losses and insolvency. However, in 2022, Weishan County established Weishan Lake Lithium-ion New Energy Company through the overall transfer of assets and cooperation with leading enterprises in the same industry, which injected new vitality into the bankrupt "shell". The new company will be put into production soon, and has established a strategic cooperative relationship with Dongfeng Motor Group Co., Ltd. to provide safe and efficient power lithium batteries for its electric locomotives, electric vehicles and mine power supplies. Shandong Feng Run Group was once a private enterprise, established in 1983, with a registered capital of 50 million yuan, located at the beautiful Weishan Lake.