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Is Guanghe Wood Industry Facing Bankruptcy and Restructuring?

Yes On September 18, 2023, the People's Court of wenshan city, Hebei Province ruled that 43 companies under the name of Hebei Hyatt Chemical Group (including Chengdu Guanghe Wood Industry) should be merged and reorganized. On the same day, Beijing Deheng (Shijiazhuang) Law Firm, the bankruptcy administrator appointed by the court, settled in Guanghe and took over the company.