Has Weishan County Runfeng gone bankrupt?

Runfeng in Weishan County went bankrupt. According to the financial headlines, it was learned that Shandong Runfeng Group New Energy Technology Co., Ltd. (hereinafter referred to as "Runfeng") had an output value of more than 10 billion yuan, employed more than 1,000 people, and had more than 500 patents. Due to poor management, serious losses, and lack of capital, Pay debts and declare bankruptcy. However, in 2022, Weishan County established Weishan Lake Lithium Dynamic New Energy Company through the overall transfer of assets and cooperation with leading companies in the same industry, implanting new vitality into the bankrupt "body". The new company is about to be put into production and has established a strategic partnership with Dongfeng Motor Group Co., Ltd. to provide safe and efficient power lithium batteries for its electric motorcycles, electric cars, and mining power supplies. Shandong Runfeng Group was a private enterprise founded in 1983 with a registered capital of 50 million yuan. It is located on the bank of the beautiful Weishan Lake.