Reasons for the shutdown of Jiaxing Peng Yi Chemical Fiber Co., Ltd.

Jiaxing Peng Yi Chemical Fiber Co., Ltd. stopped production for the following reasons:

1, the market demand situation has changed, resulting in unsalable products and decreased output.

2. There is a serious shortage of liquidity, and enterprises can't operate normally, especially in the case of tight monetary policy in the country. Enterprises can't borrow money from banks, and there are no other financing channels, which leads to the failure of normal production, and even the best equipment will not help.

3. Without serious feasibility study, enterprise managers made mistakes in decision-making and blindly expanded reproduction or invested in new projects, which caused the heavy operating burden of enterprises and made the enterprises in poor operating conditions worse.