Looks like one more company is circling the drain: just another tale of financial mismanagement, deceit, over-leveraging of assets, closed factories, unpaid wages, unpaid dues, misrepresentation and misreporting to authorities, inflated statistics.
This detailed article looks at some of the ills plaguing Hawtai, towards the end talks about the same things we were discussing here in December.
Meanwhile, a Rongcheng court has also frozen the shares of Liaoning Shuguang Automotive Group Co., Ltd. held by Hawtai (which Hawtai had received after a lot of wrangling with the regulatory authorities) for a period of three years, as an underlying guarantee for some financial obligations.
This article (link
) explores whether R&F real estate group's recent announcement of investing in Hawtai will ultimately be beneficial for the latter as the former is a company with a high debt to assets ratio and recent cash flows have been negative. (Perhaps R&F is interested in Hawtai because of the latter's license?)