How did Huaiyu Group close down?

Not closed down. According to official website of Huai 'an Yu Group, Huai 'an Yu Investment Group Co., Ltd. (formerly Huai 'an Hongxing Automobile Trading Co., Ltd.) was established in 2003, and as of July 2023, the company was still in operation. Yu Investment Group Co., Ltd. is located in Huai 'an City, Jiangsu Province. Is a company mainly engaged in capital market services. The registered capital of the enterprise is 30 million yuan, and the paid-in capital is 30 million yuan.