Why was Shunde Matsumoto Electrician auctioned?

Bankruptcy at the end of July 2023 17 According to the information published on the website of Foshan Shunde Matsumoto Electrician Industrial Co., Ltd., Matsumoto Electrician had many contract disputes and was listed as a untrustworthy company due to legal problems. The company had to auction the company by filing for bankruptcy on July 3, 2020 to pay off its debts, so Shunde Matsumoto Electric was auctioned as bankruptcy. Foshan Shunde Matsumoto Electrical Industry Co., Ltd. belongs to Guangdong Xiong Wei Group, with assets of over 300 million yuan, an industrial workshop of 40,000 square meters, more than 200 employees/kloc-0, and an annual output of 40 million sets of electrical accessories.