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Early in the morning, Cao Yongjun once again stood at the factory gate of Nanjing Wuxian Power Technology Co., LTD. This time, he didn’t sigh but showed a long-lost smile. In the workshop, the original equipment was being debugged, and the familiar roar of the machines rang out again – “The factory has really come back to life!”
Just half a year ago, this place was still silent. The equipment was covered with dust, the workshop was deserted, and even the qualification for the recycling and reuse of used power lithium batteries, which was regarded as an “industry pass”, was nearly invalid with the shutdown of the enterprise.
01
Crisis: From “Industry Star” to “Production Line Shutdown”
Infinite Power Technology was once a star enterprise in the field of new energy recycling. In 2019, it settled in Lishui Economic Development Zone and holds the first qualification for the recycling and utilization of used power lithium batteries in Jiangsu Province. In 2022, its sales revenue reached 297 million yuan. The production line operates 24 hours a day and has established stable cooperation with leading enterprises such as CATL and BYD.
However, with the sharp fluctuations in the prices of the lithium battery industry chain, the raw material costs and product profits have been seriously inverted, and the capital chains of enterprises have broken. In June 2023, production lines were forced to shut down, workers left one after another, and even the scarce environmental impact assessment and pollutant discharge qualifications in the industry fell into a “slumber” along with the enterprises. “During that period, when passing by the factory area, I felt particularly bad.” ” Cao Yongjun recalled that he had been working in the workshop since the factory was established. “These devices were like our old buddies. We could only watch helplessly as they rusted.”
02
Turning Point: From “Dormant Assets” to “Restructuring and Attracting Investment”
The turning point emerged in early 2025. When Gao Chuanfa, a member of the Judicial Committee and the head of the Civil Division II of Lishui District People’s Court, visited enterprises, he keenly realized that “once the regular liquidation is carried out, the core qualifications of these enterprises will be cancelled along with the enterprise entities. The value of the equipment sold will be less than a fraction of the original price, and the rights and interests of the employees cannot be guaranteed either!” To preserve the core qualifications and industrial value of the enterprise, the court promptly initiated the pre-reorganization procedure, appointed two law firms as joint administrators, communicated with creditors in advance, shortened the procedure cycle, and made every effort to “buy time” for the enterprise.
In April 2025, the Lishui Court ruled for formal reorganization and innovatively proposed a “liquidation-style reorganization” plan: instead of conducting a one-size-fits-all asset sale, it first stripped the enterprise of its debt “burden”, while fully retaining intangible assets such as environmental impact assessment qualifications and pollutant discharge permits, as well as key equipment. Then, it publicly recruited new investors through online auctions.
03
New Machine: From “Silent Machine” to “Rumbling Machine”
As soon as the announcement was made, it quickly attracted the attention of many new energy enterprises. Ultimately, an investor who was optimistic about the battery recycling market successfully won the bid. Not only did they fully pay the reorganization funds, but they also promised to assume 100% of the employees’ debts, which reassured the departing employees. Not long ago, when the news that Lishui Court had approved the reorganization plan came, Cao Yongjun specially pulled his old colleagues to the factory area. The familiar roar of machines was already heard in the workshop. Workers on the scene were repairing old equipment and introducing new production lines. “Look, all the new equipment has been transported in. Our ‘old buddies’ are also repairing. This factory has finally come back to life!” Now, Cao Yongjun has accepted the re-appointment and returned to his position.
At present, the new investor is actively re-connecting with upstream and downstream enterprises, planning to rely on the industrial foundation of Lishui to form a “closed loop” of battery recycling, local battery production and vehicle manufacturing, and create a more complete new energy ecosystem network. According to Zhang Shoulun, the company’s director, it is expected that production will gradually resume within a week after the maintenance of the existing equipment is completed. By the end of this year, it is expected to achieve an output value of approximately 20 million yuan. With the release of production capacity and market expansion, the company’s annual output value is expected to exceed 500 million yuan in 2026.
From being rusty to rumbling machines, from the quagmire of debt to reorganization and regeneration, the resumption of work and production of Infinite Power Technology is not only a victory for the enterprise to save itself, but also a vivid practice of the deep integration of judicial services and industries in Lishui.
