Why did Tongling Yuan Chao go bankrupt?

Unable to pay off due debts. Tongling Yuan Chao Precision Electronic Technology Co., Ltd. can't pay off due debts, and its assets are not enough to pay off all debts. The executive board of the court decided to transfer the relevant cases to bankruptcy proceedings. Bankruptcy refers to whether an enterprise can apply to the court for bankruptcy at the same time under the conditions that it cannot pay off its debts due, its assets are insufficient to pay off all its debts or it obviously lacks solvency.