Why did Zhejiang Bada go bankrupt?

Blind investment, irregular internal management, etc.

Blind investment: Zhejiang Bada Construction invested heavily without adequate market research and risk assessment. These investments involve different fields and projects, but they are not effectively managed and supervised, resulting in inefficient use of funds and even losses.

Irregular internal management: there are loopholes or unreasonable places in the internal management system of enterprises, such as poor financial management, unreasonable resource allocation and opaque decision-making procedures. These problems will lead to the funds can not be effectively managed and used, or even abused or wasted.