Chongqing Dashipingdong Auto Seating Co., Ltd. goes bankrupt and is undergoing liquidation.

The Fifth Intermediate People's Court of Chongqing Municipality issued an announcement accepting the bankruptcy liquidation application of Chongqing Dashi Pingdong Automotive Seating Co., Ltd. The company was established in 2020 with a registered capital of US$4.3 million, jointly owned by Shanghai Dongboping New Material Technology Development Co., Ltd. and Dashi Co., Ltd., each holding 50% of the shares. However, as of July 31, 2025, the company's total assets were approximately RMB 21.88 million, total liabilities reached RMB 35.54 million, the debt-to-asset ratio exceeded 162%, and net assets were negative RMB 13.66 million.