Some poorly managed state-owned enterprises will definitely close down, but the closure of state-owned enterprises does not mean that the whole state-owned enterprises are in trouble. For example, Hainan Company of China Zhongsi Group, a wholly-owned secondary subsidiary of China Poly Group Co., Ltd., one of the central governments under the jurisdiction of the State Council SASAC, was ruled bankrupt by Haikou Intermediate People's Court on 20 18.