What if the company goes bankrupt by financing?

Handling of bankruptcy after financing: you can apply to the people's court for reorganization, reconciliation or bankruptcy liquidation. If the debtor is unable to pay off the debts due, the creditor may apply to the people's court for reorganization or bankruptcy liquidation of the debtor. Liquidation shall be paid in the order of wages, taxes and ordinary creditor's rights. After the liquidation, the company shall be cancelled according to law.

legal ground

Article 2 of the Enterprise Bankruptcy Law of the People's Republic of China

If an enterprise as a legal person is unable to pay off its due debts, its assets are insufficient to pay off all its debts or it obviously lacks solvency, it shall clear up its debts in accordance with the provisions of this Law.

An enterprise as a legal person may be reorganized in accordance with the provisions of this law if it has the circumstances specified in the preceding paragraph or obviously loses its solvency.

Article 7

The debtor may apply to the people's court for reorganization, reconciliation or bankruptcy liquidation under the circumstances specified in Article 2 of this Law.

If the debtor is unable to pay off the debts due, the creditor may apply to the people's court for reorganization or bankruptcy liquidation of the debtor.

If an enterprise as a legal person has been dissolved but has not been liquidated or its assets are insufficient to pay off its debts, the person liable for liquidation according to law shall apply to the people's court for bankruptcy liquidation.