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Suning Group's Restructuring Vote Postponed; Debt Exceeds 238.7 Billion Yuan
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The voting period for the restructuring draft of Suning Electric Group and 38 other companies (referred to as "Suning Group companies") has been postponed again to December 14. The restructuring draft shows that the Suning Group companies face over 230 billion yuan in debt, while their liquidation assets are valued at 41 billion yuan, indicating insolvency. To resolve the crisis, the equity of controlling shareholder Zhang Jindong and other shar…
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