On the evening of June 3rd, JSTE Electronics Technology (Dongguan) Co., Ltd. issued a self-liquidation announcement, declaring the commencement of liquidation and the cessation of all business operations with immediate effect. The company stated that due to the malicious unilateral termination of the contract by its main client, the overseas client JFT Corporation, it suffered a loss of more than 60 million yuan, resulting in serious operational difficulties. As a result, the company had no choice but to make the decision to liquidate.
The company has established a liquidation team, led by Liu Dewen, with members including Liu Dewen, Ge Yongbing, Zhao Shuang, Tang Shunliang, Ouyang Jiasheng, and Ma Shaojing. The reference date for the liquidation is June 3, 2024. The company will cease all operations on that day and begin the liquidation process. Creditors are required to declare their claims to the liquidation team within 45 days of the announcement, and any claims not declared within this period will be handled in accordance with the law.
The following is the original announcement:
According to its official website, JSTE Electronic Technology (Dongguan) Co., Ltd., located at 222 Changfu West Road, Qiufu Road, Dalang Town, Dongguan City (next to Zhuowei City), was formerly known as Jishifu Electronic Technology (Dongguan) Co., Ltd. Established in 2014, it is a Sino-Korean joint venture specializing in the research, production, and sale of e-cigarette products.
Its main brands are JUSTFOG and CIGARESSO, with products sold to over 50 countries and regions worldwide, with an annual output value exceeding 5 billion. JUSTFOG is a brand of oil-filled e-cigarettes, while CIGARESSO is a brand of HNB e-cigarettes. It has established a strategic partnership with China Tobacco Sichuan Industrial Co., Ltd.
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