Recently, the National Enterprise Bankruptcy and Reorganization Case Information Network disclosed the latest progress in the bankruptcy and liquidation case of Guangzhou Hanka Tire Trading Co., Ltd.
It is reported that the second creditors meeting in the case was held in writing on June 8, 2026. The meeting voted and approved the relevant proposals, and the bankruptcy property pre-distribution plan is being advanced in accordance with the law.
It was Wanli Tire Co., Ltd., a well-known state-owned tire company, that pushed this old tire trader into bankruptcy and liquidation.
This bankruptcy case that has attracted much attention in the industry began on February 5, 2026.
On that day, the Intermediate People’s Court of Guangzhou City, Guangdong Province ruled to accept the bankruptcy liquidation case of Guangzhou Hanka Tire Trading Co., Ltd. The applicant was Wanli Tire Co., Ltd., and the court designated Deloitte Corporate Consultants (Shenzhen) Co., Ltd. Guangzhou Branch as the administrator.
As early as the first credit verification results disclosed on April 23, 2026, Hanka Tire’s debt chassis has begun to take shape.
At that time, Wanli Tire, as the core creditor, declared total claims of 11.0042 million yuan (including principal of 6.7802 million yuan and interest, etc.).
After review and confirmation by the administrator, the final undisputed creditor’s amount was RMB 10.8738 million.
Both parties had no objection to this debt verification result, which confirmed Hanka Tire’s huge debt to Wanli Tire.
At the second creditors meeting held from then on June 8, a total of two creditors with voting rights attended, representing a total amount of ordinary claims of approximately 8.5175 million yuan.
The two bankruptcy proposals were finally approved by creditors, marking the case entering the substantive disposal stage.
Public information shows that Guangzhou Hanka Tire Trading Co., Ltd. was established in November 2008 with a registered capital of only 3 million yuan and its legal representative is Zhou Zhaojia.
However, its history can be traced back to the 1990s, and it is a member company of Guangzhou Hanka Group.
As a traditional tire trading company, Hanka Tire has had a glorious past.
The company’s business covers the retail trade of tires and auto parts, auto repair and beauty, etc. It has successively distributed many well-known brands such as Cooper Tire, Starfly Tire, Wanda Tire, and Bolu Chiron Tire.
Its sales network once spread all over Guangdong Province, occupying a position in the tire circulation market in South China and having a certain influence.
However, with the intensification of industry competition and channel changes, the capital chain of traditional tire traders is increasingly under pressure.
As a channel provider in the supply chain, Hanka Tire was eventually filed for bankruptcy liquidation due to a rupture in its capital chain and its inability to repay its core supplier Wanli Tire.
Currently, Hanka Company and its legal representative Zhou Zhaojia have been restricted from high consumption.
On March 13, the administrator officially issued a “Takeover Notice” to its executives, requiring cooperation in the investigation and handing over company information.
The end of Hanka Tire is a microcosm of the current reshuffle in the tire circulation field.
Against the background of increased concentration in the tire manufacturing sector and fierce competition in the industry, traditional tire trading companies with fragile capital chains and lack of core competitiveness are facing a severe test of survival, and survival of the fittest is accelerating.
Those companies that can adapt to market changes and have stable capital flows and core competitiveness will stand out in this reshuffle, while traditional traders like Hanka Tire are likely to be eliminated by the market if they cannot adjust their business strategies in a timely manner.
This has also sounded the alarm to the entire tire industry. Companies need to continue to innovate and improve their own capabilities to cope with increasingly fierce market competition.
