2024 January 11,People's Court of Yuhang District, Hangzhou, recently announced that Yi Si De Packaging Technology (Hangzhou) Co., Ltd. (hereafter referred to as "Yi Si De Company") was unable to repay its debts as they became due, and its assets were insufficient to cover all liabilities.
As a result, the court declared the company bankrupt.
According to public records, Yi Si De Company was established in September 2017. It had previously launched an innovative product called the "zippered box", which addressed several issues with traditional boxes, such as poor unboxing experience, non-environmentally friendly tape, and low opening efficiency.
The company collaborated with well-known brands like Starbucks (SBUX.US), Alibaba,Pandora,Xiaomi and many others
As of November 30, 2023, Yi Si De's total liabilities amounted to approximately 71.83 million yuan. After an investigation by the court, it was confirmed that the company's total debt far exceeded its total assets, leading to the court's decision to declare the company bankrupt.
Reference Source:
https://finance.sina.cn/tech/2024-01-11/detail-inaccqec6214705.d.html