On November 4th, Gelonghui reported that Shanghai Sanmao Enterprise (600689.SH) announced that its subsidiary, Shanghai Yitiao Textile Co., Ltd. (referred to as "Yitiao Company"), entered the company through asset replacement in May 2002. Due to its long-term lack of production and operation activities, and being in a state of insolvency, the company convened the 11th board of directors' second extraordinary meeting for the year 2024 on November 4, 2024, and approved the "Proposal on the Company's Subsidiary Applying for Bankruptcy Liquidation," agreeing that Yitiao Company will apply for bankruptcy liquidation to the court.