How did Dongguan Xingfa Toy Factory Co., Ltd. close down?

Dongguan xingfa toy factory co., ltd. closed down because of the broken capital chain. According to relevant public information, on March 8, 2020, Dongguan Xingfa Toy Factory Co., Ltd. was short of funds due to the cancellation of orders by European and American customers, and the capital chain was broken due to the dunning of suppliers. Dongguan Xingfa Toy Factory Co., Ltd., with a registered capital of HK$ 654,380,400, is located in Zhenxing Industrial Zone in front of Dongcheng District, Dongguan. Its business scope includes the production and sale of plastic toys, sewing toys, vinyl toys, metal toys and rubber toys.