Aoshengde announced the completion of the bankruptcy restructuring process, with the total long-term debt reduced by approximately $1.3 billion.

On December 19th local time, Axion Materials announced the completion of its Chapter 11 restructuring process, becoming a more financially stable company. The restructuring plan approved by the bankruptcy court in the Southern District of Texas on December 9th is now in effect. The company has achieved the goals set for this restructuring, reducing its long-term debt by approximately $1.3 billion, securing a $350 million asset-backed credit facility, enhancing liquidity with over $600 million in new capital from new shareholders, and significantly lowering debt costs.