Jiangsu Limin Paper Packaging Co., Ltd. Enters Court-Supervised Pre-Restructuring Process

Jiangsu Limin Paper Packaging Co., Ltd., once a leading force in East China’s paper packaging industry, has officially entered a pre-restructuring process following a court decision aimed at stabilizing operations and attracting strategic investors.

On February 10, 2026, the Zhenjiang Intermediate People's Court issued Decision No. (2026) Su 11 Po Shen 1, initiating pre-restructuring proceedings for the company and appointing Jiangsu Jiangcheng Law Firm as interim administrator.

From Industry Leader to Restructuring

Founded in 2009, Jiangsu Limin Paper Packaging completed shareholding reform in 2016 and was listed on the National Equities Exchange and Quotations (NEEQ) on March 29, 2017. That same year, the company reported revenue exceeding RMB 600 million.

At its peak, the company operated production bases across Zhenjiang, Nantong, Yangzhou, Yancheng and Suqian, supported by multiple modern paperboard production lines that established it as a major packaging supplier in East China.

In 2017, Limin expanded upstream with a large-scale investment in a 2-million-ton-per-year high-strength corrugated recycled packaging paper project located in the Lingang Industrial Park of Guanyun County, Lianyungang. The project, covering more than 1,000 mu with a total investment of approximately RMB 3 billion, was designed to integrate waste paper recycling, cogeneration, eco-friendly papermaking, cardboard production and packaging operations.

Operational Challenges

According to the company’s pre-restructuring investor recruitment announcement, a combination of macroeconomic slowdown, structural shifts in the paper market, rising raw material and production costs, and mounting debt pressures led to significant operational difficulties in recent years.

Rather than entering immediate bankruptcy liquidation, the company has opted for pre-restructuring — a market-oriented and legally supervised mechanism designed to streamline debt restructuring, reduce judicial costs, and preserve enterprise value. This approach aims to protect operational assets and maintain business continuity while seeking new capital support.

Investor Recruitment Underway

The interim administrator has opened a formal recruitment process for prospective investors. Interested parties are invited to contact the administrator and submit required application materials before 17:00 on March 31, 2026.