Global top e-commerce faces reorganization uncertainty

Global Top E-Commerce (SZSE:002640) is facing uncertainty as a creditor's application for reorganization and pre-reorganization is still under review by the Taiyuan Intermediate People's Court. The application, filed on May 10, 2023, cites the company's inability to settle debts and potential for restructuring. While the court is yet to make a ruling, the Shenzhen Stock Exchange could impose a delisting risk alert if the application is accepted. If reorganization fails, the company could face bankruptcy and delisting. Global Top E-Commerce is cooperating with the court while cautioning investors about the risks.