Shandong Xiaolong Group declared bankruptcy on February 9, 2015, and the court has sealed it up. In February, the company’s employees asked for wages, the office space was contained, and the company entered a state of emergency. Prior to this, Nguyen Long had applied for bankruptcy on several occasions and the government did not permit it. Shandong Xiaolong Group's subsidiaries include Xiaolong Textile, Deruibao Tire, Xiaolong Real Estate, and small loan companies, with bank liabilities of more than 2 billion yuan. The bankruptcy of Xiaolong will once again refresh the total debt of Dongying Enterprise Bankrupt Corporation and become Dongying's largest bankruptcy ever. For Yuan Tingshu, it seems that it has been unlucky and every investment has been wrong. In 2003, Panlong Textile put into production, and at this time the domestic textile industry has begun to decline, the world's largest textile mill Weiqiao Textile has made a strategic shift. In 2009, the tire industry under the economic crisis suddenly became hot, and Yuan Tingshu also took the opportunity to enter the tire industry. However, after 2009, the tire industry entered the down cycle, and De Rui Bao’s losses have not been said for years. In 2013, Nguyen Long entered the real estate industry again. At this time, real estate is already invincible. The dragon's house cost price cannot be sold. Yuan Tingshu seems to want to invest in a project to make up for the mistakes of another project. A series of investment mistakes have caused Wu Long to stay in a loss and have been maintained by bank loans for many years. Not only is the strategic decision mistaken, Xiaolong's management is also lackluster. Many times on the Internet broke the news, De Rui Bao tires look good, poor quality, agents generally reflect the quality does not work, the most famous piece is De Rui Bao's all steel tires "on the high-speed just before the change, under the high-speed will have to change" . Because the quality of the product is poor due to poor management, and the product is unsatisfactory due to poor quality, Dreib has been in a state of high inventory, resulting in a very poor financial situation. It is of great significance that, among the list of global tires 75 that were released in 2014, Drebo was impressive. For the case of Xiaolong, Guangrao's segment in the world is also spread everywhere. The first is that Sui Long has "three-times inexhaustible money, and five lifetimes of unfinished business." It is also said that when reporting to the government, Yu Long only reported that "schedule pays on time to guarantee the return of bank interest." It is impossible to start development as early as possible. For the financial situation of Xiaolong, neither the bank nor the guarantor is not aware of it. But it is also under pressure to save the company and avoid cross infection. Allegedly, Xiao Long has long been unable to repay the loan, the interest is the bank's new principal, and the principal amount is the bank's coordination and lending. Even on the day of the bankruptcy of the company on February 9, the bank also issued a loan to pay for the employees. The survival of the fittest in the market economy means that for companies that do not have well-managed or poorly managed enterprises, they must be phased out, regardless of their size. The role of the government is only secondary and short-term. If the company has fundamental problems, no one can save it. 
Dongying Tire's largest bankrupt enterprise ever 
Yuan Tingshu