A company under Youkeshu was declared bankrupt and liquidated!

Not only is Youkeshu itself embroiled in lawsuits, but its subsidiaries are also having a hard time.

Recently, Youkeshu released an announcement. The content shows that Shanghai Xiandai Shangyou Software Co., Ltd. (hereinafter referred to as "Shanghai Shangyou"), a wholly-owned subsidiary of Youkeshu, received a "Notice" of bankruptcy liquidation served by the court.

So what is going on?

It is understood that the "bankruptcy liquidation application" was filed by Zhu, an employee of Shanghai Shangyou. Prior to this, Zhu had a labor arbitration case with Shanghai Shangyou. At that time, the Shanghai Pudong New Area Labor and Personnel Dispute Arbitration Committee issued a "Conciliation Agreement" that required Shanghai Shangyou to pay Zhu 1.01507 million yuan.

However, Shanghai Shangyou did not have any executable property, so the Pudong New Area Court ruled to terminate the enforcement procedure.

However, Zhu believed that Shanghai Shangyou was still unable to repay its debts after the People's Court enforced its matured creditor's rights against it. Therefore, Zhu, as the applicant, requested the Pudong New Area Court to accept the bankruptcy liquidation application against Shanghai Shangyou.

As of the date of disclosure of this announcement, Shanghai Shangyou has not yet received the acceptance ruling of the Pudong New Area Court on the application for bankruptcy liquidation of Shanghai Shangyou. There is still significant uncertainty as to whether the bankruptcy liquidation application will be accepted by the court and whether Shanghai Shangyou will enter the bankruptcy liquidation procedure.

Once Shanghai Shangyou enters bankruptcy liquidation procedures, Youkeshu's current or post-period profits will inevitably be affected. However, since Youkeshu's current main business is cross-border e-commerce , which is different from Shanghai Shangyou's software development and production, it is not expected to have much impact on the company.

Before becoming a subsidiary, Youkeshu had always had a tough fate.

After the account was blocked, Youkeshu made rectifications through a series of measures such as reducing scale, reducing costs, and adjusting strategies, and its cross-border e-commerce business gradually stabilized. However, Youkeshu was still in a period of large performance losses at that time. In Youkeshu's first quarter report, we can see that the company's revenue was 120 million yuan, a decrease of 47.56% compared with the same period last year; and the profit attributable to shareholders of listed companies was also negative, at -21.1218 million yuan, a year-on-year increase of 21.77%.

Amid negative profits, an overdue loan in July made Youkeshu's situation even worse.

Youkeshu issued an announcement. As Youkeshu's M&A loan from Shanghai Pudong Development Bank was overdue (Tianze Information was the loan for the acquisition of Youkeshu), it received a second-instance judgment from the Jiangsu Provincial High People's Court: Youkeshu will bear the principal of the outstanding loan of 185 million yuan and the payment obligations such as interest, penalty interest, and compound interest.

Negative profits and debts exceeding 100 million are slowing down Youkeshu's progress.

There is a tree

Subsidiaries

Bankruptcy