Zhoukou Intermediate People's Court and its delegation went deep into Lotus Health Visit

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2024-05-18

Source: Comprehensive Xiangcheng Court Report

In order to extend the bankruptcy trial function and further optimize the legal business environment, on the morning of May 17, Zhang Yun, president of the Third Civil Court of Zhoukou Intermediate People's Court, and his party conducted an in-depth investigation on Lotus Health. Zhu Xinzhang, Secretary of the Party Leadership Group and President of Xiangcheng Court, and Zhu Zhongwen, Deputy Secretary of the Party Leadership Group and Vice President, accompanied him. Yan Lifeng, deputy to the Provincial People's Congress, Qin Hongwei, member of Xiangcheng CPPCC, and Qi Haihua, reporter of Xiangcheng Financial Media Center, attended the meeting. Li Bin, vice chairman and CEO of Lotus Health, and Zheng Dezhou, chief quality officer, received Zhang Jun and his party.

Zhang Yun and his entourage first visited the lotus health enterprise exhibition hall, product production workshop and other places to learn more about the production and operation of the enterprise.

At the subsequent symposium, Zheng Dezhou reported on the process of Lianhua's healthy bankruptcy and reorganization, especially the remarkable results achieved in resolving the debt crisis, protecting the legitimate rights and interests of employees and creditors, and the outstanding results achieved since the reorganization.

Yan Lifeng, Qin Hongwei and Qi Haihua respectively evaluated the great changes after the healthy rebirth of Lotus, and put forward opinions and suggestions on the bankruptcy trial work of the court and the operation and management of the enterprise.

Li Bin expressed his gratitude to the two-level courts for their support and assistance, as well as the supervision of deputies to the National People's Congress, CPPCC members, and media reporters, and communicated with the participants. Li Bin said that as the first listed company in China's condiment industry, over the past 40 years, Lotus has not only had extremely brilliant moments, but also a difficult period of trouble, as well as a new chapter of Nirvana rebirth and resplendence. Since the successful reorganization in 2020, Lotus Health has become one of the few listed companies with the best business development among the listed companies that have completed bankruptcy and reorganization. It has achieved profitability for four consecutive years and maintained steady and rapid growth. It has been approved by the regulatory authorities and all sectors of society. Widely recognized, it is praised by the industry as the "Lotus Model" for the bankruptcy and reorganization of listed companies ". Especially in 2023, it ran out of the acceleration of business development.

Li Bin stressed that the completion of the restructuring of enterprises in difficulties is only a new beginning, and the key is to reshape the value after the restructuring and realize the sustainable development of enterprises. The reason why Lotus Health has become one of the best-developed listed companies after reorganization is that it adheres to solid foundation innovation, continues to practice its internal skills, and has adopted a series of new measures in corporate governance, credit restoration, strategic restructuring, and mechanism reform. The results of the reform and innovation continue to show, the company's bottom capabilities have been significantly enhanced, and the business development has taken on a new look, and has continued to reach a new level, entering the best period of development in more than 20 years.

Zhang Yun said that this visit and investigation not only deepened the court's understanding of bankruptcy and reorganization enterprises, but also provided a useful reference for the court to better play its bankruptcy trial function. The court will further strengthen communication with deputies to the National People's Congress, CPPCC members, and media reporters, earnestly listen to their opinions and suggestions, improve the bankruptcy trial working mechanism, increase support for bankruptcy and reorganization enterprises, and provide enterprises with better judicial services. At the same time, to encourage Lotus Health to increase scientific and technological innovation, improve product added value and market competitiveness, and enhance the vitality of enterprise development.

Zhu Xinzhang pointed out that the bankruptcy procedure is an important judicial procedure to help enterprises in distress get out of trouble and rebirth. Xiangcheng court will continue to do a good job in liaison with representatives and news media, handle opinions and suggestions with high quality and efficiency, make good use of judicial reorganization "toolbox", pay attention to the actual effect of enterprise reorganization, ensure the implementation of enterprise treatment, actively create a good legal business environment, and fully serve the high-quality economic development of Xiangcheng.

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