Zh Tong Finance APP news, *Special treat Chaohua (002288.SZ) released an announcement, the company received a notice from its largest shareholder Changzhou Henghui Enterprise Management Center (Limited Partnership) ("Changzhou Henghui") on June 28, 2024. The notice stated that the administrator of China National Chemical Corporation ("ChemChina Group") claimed that there was a high degree of affiliation and corporate personality confusion among 248 enterprises including Changzhou Henghui in ChemChina Group, and the cost of distinguishing the property of 248 enterprises was too high. The administrator applied to Beijing First Intermediate People's Court ("Beijing First Intermediate Court") for substantive merger and bankruptcy liquidation of ChemChina Group and other 248 enterprises on the grounds that independent bankruptcy liquidation would seriously damage the fair payment interests of all creditors.

As of the disclosure date of the announcement, there is still uncertainty about whether the substantive merger and bankruptcy liquidation application submitted by the administrator of ChemChina Group can be accepted by Beijing First Intermediate Court and whether the above 248 enterprises will enter the merger and bankruptcy liquidation process.