Bankruptcy of Shandong Lufeng Special Purpose Vehicle Co., Ltd.

By September 30th, 20 19, Lufeng Company had total assets 14808 1864.52 yuan, total liabilities of 242,095,390.62 yuan, and asset-liability ratio 163.49%. Lufeng Company, as a debtor, applied for bankruptcy liquidation on its own, which complies with the relevant provisions of the bankruptcy law and is qualified as the main body. Now the company can't pay off its debts due, and its assets are not enough to pay off all its debts, which has caused bankruptcy.