Why did pilot Baitai shut it down?

Bankrupt. Established in 2003, Hangzhou Hangmin Baitai Jewelry Co., Ltd. is affiliated to Hangzhou Xiaoshan Hangmin Village Asset Management Center, located in Hangzhou, Zhejiang Province, and is an enterprise mainly engaged in nonferrous metal smelting and calendering processing industry. According to the company's data, in 20021year, the company's turnover was 500,000, and the funds could not support bankruptcy, so the company closed down and did not start business as of June 10, 2022.