Analysis on the reasons for the shutdown of Nantong Third Construction Project

Nantong Sanjian went bankrupt because of problems in the capital chain. Due to the financial problems of Evergrande Group, it failed to repay the project funds of Nantong Sanjian on time. This makes Nantong Sanjian fall into the dilemma of tight cash flow and unable to receive due project funds. With the interruption of payment, the financial situation of Nantong Sanjian is deteriorating day by day, and the company has to face severe challenges. In order to protect their own interests and the rights and interests of creditors, Nantong Sanjian finally made a difficult decision, that is, bankruptcy liquidation. Bankruptcy liquidation means that after a joint stock limited company is declared bankrupt, the liquidation team takes over the company and liquidates, evaluates, handles and distributes the bankrupt property. The liquidation group consists of shareholders, relevant authorities and relevant professionals organized by the people's court in accordance with the provisions of relevant laws. The relevant organs include state-owned assets management departments, government departments and securities management departments, and professionals include accountants, lawyers and appraisers.