Why did BYD acquire Hongda Xingye?

Hongda industrial group is in debt crisis. Hongda Industrial Group is a large chemical energy industry group in China. Due to the debt crisis caused by several bond defaults, the operation basically stagnated. In addition to bond default, Hongda Industrial Group still owes huge amounts of money to financial institutions. According to the reply of Hongda Xingye, the main subsidiary of the Group, to the inquiry letter of Shenzhen Stock Exchange, as of June 65438+1October 3 1 day, the company's overdue loans totaled about 5.228 billion yuan, including 4.558 billion yuan of overdue loans and 670 million yuan of unpaid interest and liquidated damages. So when HTC Industrial Group was deeply mired in debt, BYD appeared and bought HTC Industrial Group.