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Reasons for Bankruptcy of Puning China Medical City

The company is unable to pay its due debts.

According to the announcement of Kangmei Pharmaceutical, Kangmei Traditional Chinese Medicine City (Puning) Co., Ltd., a wholly-owned subsidiary of the company, received the notice of Guangdong Jieyang Intermediate People's Court (2023) Guangdong 52 Baoshen No.5, and Shenzhen Zhongke Heng Industrial Co., Ltd. filed a bankruptcy liquidation application with the court on the grounds that Puning Traditional Chinese Medicine City could not pay off its due debts.