Taiwan Huaying Company officially declared bankruptcy: display output once ranked among the top three in the world, and now has a debt of 9.5 billion yuan.

CTOnews.com August 31 news, Taiwan's Datong Group's Zhonghua Yingguan Company (Huaying) issued a notice on the 29th that Zhonghua Yingguan was declared bankrupt by the Taoyuan District Court, with a total debt of NT $41.8 billion 33.55 million 7,000 (about 9.5 billion yuan). The first creditors' meeting will be held on October 28 this year.

The full name of Zhonghua Picture Tube Co., Ltd., founded in May 1971, is the most important display manufacturer in the world and one of the "five panel tigers" on the island. It was an important manufacturer of key components picture tubes in Taiwan's early research and development of video products, and its display output was once the top three in the world, thus pushing Taiwan to the world stage of the "display kingdom." In 1997, Huaying introduced Japanese technology, which opened the prelude to the planarization of displays in Taiwan. Some media on the island even call it the "Whampoa military Academy of monitors."

Due to the slow pace of subsequent expansion, Zhonghua Picture can not catch up with Youda Optoelectronics, Chi Mei Electronics and other manufacturers, but also have to bear the depreciation losses of the CRT factory, resulting in long-term poor performance, repeated losses, and stock prices hovering at low levels for a long time.

Zhonghua Yingguan reported delisting and mass dismissal one after another in 2019, and was seized by the court in September of the same year, and finally filed for bankruptcy in accordance with the law.

CTOnews.com learned that according to the Datong Group announcement, Zhonghua Yingguan's assets were insufficient to cover its liabilities, and many creditors competed to apply to the court to enforce Huaying's land, buildings, equipment, and other assets. Zhonghua Yingguan was no longer able to continue its production and operation.