- November 19, Zotye Auto, whose market value used to reach 30bn RMB in 2017, filed bankruptcy, and its boss, Ying Jianren, cashed money long time ago and ran away.
- Grand Resources, a major subsidiary of China Grand Enterprises(CGE), went bankrupted on Nov, 19， which may lead to 1090mn RMB profit reduction to CGE’s 2020 PnL.
- On Nov 19, Zhejing Yuhui Solar Energy Source Co., Ltd, a subsidiary of ReneSola Ltd, filed bankruptcy.
- Brilliance Auto, used to hold 50% of BMW Brilliance and 51% of Renault Brilliance Jinbei, became impoverished on Nov 20. In mid 2020, Brilliance Auto had a debt of 132bn RMB, and its total assets was just 193bn RMB, which made its debt ratio to 69%
- According to ZeroHedge’s new article published on Nov 20, if new strain of the CCP virus becomes dominant, current vaccine could be completely useless.
- White House Director of Trade and Manufacturing Policy Peter Navarro joined “Mornings with Maria” on Nov 20 and stated that the “lockdown economy” is Democratic cruelty which does little good to both economy or pandemic control.
- Washington is poised to designate four more Chinese companies as backed by the Chinese military, sources said, curbing their access to US investors as the Trump administration seeks to cement its hawkish China legacy in its waning days.
【G Translator / Financial and Law】
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