Is Zhejiang Xiecheng Silicon Industry on the verge of bankruptcy?
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Zhejiang Xiecheng Silicon Industry Co., Ltd., founded in 2008 and having received investments of over 100 million yuan, has entered bankruptcy liquidation. This plant will be the first polysilicon factory in the country to go bankrupt. According to available information, the company was established in July 2008 with a registered capital of 250 million yuan. It is a high-tech private enterprise that specializes in the development and production of trichlorosilane, polysilicon, monocrystalline silicon, silicon wafers, and solar photovoltaic cell modules. The polysilicon plant, built with an initial investment of 850 million yuan by the company, came online at the end of 2010
As far as I know, this company is indeed in a difficult situation. The thermal hydrogenation process is still used, as the production cost is too high.
It’s so tragic! It’s better to accelerate technological upgrades – reducing costs is the key!
I’m not sure if what the original poster said is true; is it really a cold snap? . .
According to a notice issued by the People’s Court of Pinghu City, Zhejiang, “Zhejiang Xiecheng Silicon Industry Co., Ltd.” has recently initiated bankruptcy liquidation proceedings. On December 23, 2011, this court ruled to accept the application for bankruptcy liquidation of the applicant (debtor), Zhejiang Xiecheng Silicon Industry Co., Ltd., and on December 26, 2011, appointed Zhejiang Zicheng Law Firm as the administrator of Zhejiang Xiecheng Silicon Industry Co., Ltd. The creditors of Zhejiang Xiecheng Silicon Industry Co., Ltd. shall, within 60 days as of the date of the announcement, file their claims with the administrator, Zhejiang Zicheng Law Firm. Those who file their claims after the deadline may submit supplementary claims before the final distribution of the bankruptcy assets, but they have no right to a supplementary distribution for claims that were already distributed earlier; moreover, they are responsible for covering the costs associated with examining and confirming such supplementary claims. The debtors or holders of property of Zhejiang Xiecheng Silicon Industry Co., Ltd. shall promptly settle the debts or deliver the property to the administrator of Zhejiang Xiecheng Silicon Industry Co., Ltd. The first creditors’ meeting will be held at 9 a.m. on March 16, 2012, in the second courtroom of this court; all creditors are requested to attend on time. If the creditor attending the meeting is a legal person or another organization, it shall submit its business license and proof of identity of its legal representative or person in charge; if the creditor is an individual, it shall submit its personal identification document. If an agent is appointed to attend the meeting, a special power of attorney must be submitted, along with the agent’s identification document or lawyer’s license; if the agent is a lawyer, a letter of assignment from the law firm must also be provided.
If it goes bankrupt, then it goes bankrupt; after that someone else will take over, and those who need to work will continue to do so. After all, once the installation is completed, it can’t be left unused just because of bankruptcy.
This is too tragic; back then, it was we who designed their manufacturing processes, alas
Reply to 7# wuzibo1984: Did you design all the processes? ?
The first polysilicon company to fail marked an end, but also a new beginning.
I can only express my regret; however, I’m not sure of the exact reason. Now that the price of polysilicon is starting to rise, there might be some hope after all!
:Funk: Did it go bankrupt? I heard that Zhongneng is helping them drive, right?