Why did Fujian Xianchuang go bankrupt?

Xianchuang Electronics Co., Ltd. and Xianchuang Communication Co., Ltd. are two high-tech enterprises specializing in R&D and production of mobile communication network coverage products in our city. The affiliated company Star Media is listed in Hong Kong. Later, due to poor management, the two companies were insolvent and in danger. Eventually lead to bankruptcy.

After accepting a case, the bankruptcy court shall supervise and guide the work of the administrator according to law. Managers are required to perform their duties conscientiously, do a good job in creditor's rights review and property investigation according to law, standardize the work system and strictly manage financial affairs.